Best of

Best Nevada Mortgage Lenders of 2019

NerdWalletJuly 2, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

If you're looking to buy a home, refinance a mortgage or tap your home’s equity, get a lender that’s knowledgeable about Nevada and can suit your needs. We’ve boiled down the best Nevada mortgage lenders in five key categories.

Our picks for

first-time home buyers

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Works with loan programs offered by state and local housing agencies.
  • Specializes in mortgages for first-time home buyers.
  • Almost half of its loans are low-down-payment government mortgages.
  • Considers alternative credit, such as history of payments on rent and utilities.

Cons

  • With a concentration of offices in the West and South, Guild has little presence in the Northeast and Midwest.
  • Jumbo borrowers may find that banks are more competitive when it comes to large loan amounts.
Read full review
New American Funding

at New American

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Uses manual underwriting to evaluate creditworthiness.
  • Offers full online mortgage application, rate quotes, document upload and loan tracking.
  • Home equity lending sets it apart from most non-bank lenders.

Cons

  • Services not available in all 50 states.
Read full review

Our picks for

home equity borrowers

Nevada home values have nearly doubled in recent years. These lenders can help you access your home’s newfound equity.

Min. Credit Score

620

National / Regional

National

Pros

  • Offers refinance mortgages with fixed and adjustable rates.
  • Apply for a refinance loan online, in-person or over the phone.
  • Customized refinance rates available without providing personal info.
  • Fee discounts for Preferred Rewards customers.

Cons

  • Online complaints indicate inconsistent communication.
  • Time to process and close a refinance may be slower than other lenders.
Read full review
US Bank

At U.S. Bank

National / Regional

National

Max LTV

90%

Pros

  • Equity borrowing available from $15,000 to $750,000 (up to $1 million for properties in California), depending on credit history, property's equity and monthly debts.
  • With a variable-rate HELOC up to three fixed-rate options can be locked.
  • Originates loans in all 50 states with loan officers physically present in 28 states.
  • Mortgage options include a "piggyback" or 80/10/10 loan.
  • Alternative credit sources can be used In some cases.
  • No closing costs with a cash-out refinance.

Cons

  • Limited opportunities for face-to-face banking with offices in only 28 of 50 states.
  • Average score in J.D. Power 2017 consumer satisfaction survey (US Bank has 3 stars out of 5).
  • Online capabilities are currently limited.
Read full review

Our pick for

borrowers with lower credit scores

These Nevada lenders are willing to work with borrowers who may have had a financial setback or two.

Vylla

at Vylla

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Low minimum credit score.
  • Online application, loan tracking and document upload.
  • Free rate locks.

Cons

  • No online preapproval.
  • No presence in Massachusetts or North Dakota.
Read full review

Our pick for

lower credit scores

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Works with loan programs offered by state and local housing agencies.
  • Specializes in mortgages for first-time home buyers.
  • Almost half of its loans are low-down-payment government mortgages.
  • Considers alternative credit, such as history of payments on rent and utilities.

Cons

  • With a concentration of offices in the West and South, Guild has little presence in the Northeast and Midwest.
  • Jumbo borrowers may find that banks are more competitive when it comes to large loan amounts.
Read full review

Our picks for

online experience

These lenders focus on online capabilities, allowing you to apply anytime and anywhere.

Rocket Mortgage

at Rocket Mortgage

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • The site caters to self-service users who want to apply for a home loan without talking to a human unless it’s absolutely necessary.
  • With your authorization, accesses asset statements from 98% of U.S. financial institutions.
  • Tells you the loan amount you’ll qualify for within minutes.
  • Rocket Mortgage’s document and asset retrieval capabilities can save you a bunch of time and hassle.

Cons

  • Doesn't offer home equity loans or HELOCs.
  • If you’re a “look me in the eye” type of customer, you’re out of luck.
  • Doesn’t consider alternative credit data. It just looks at credit scores and debt-to-income ratios, the way most mortgage lenders always have.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Works with most borrowers as long as they have good credit scores and incomes.
  • Provides a user-friendly digital platform that’s thorough in covering all types of borrowing scenarios.
  • Has a 95% customer satisfaction rate, according to company data.

Cons

  • Charges some fees, such as a $1,290 lender fee which includes a $150 application fee.
  • Offers many products, which might confuse or overwhelm borrowers.
  • Several click-throughs required for personalized rates.
Read full review

Our picks for

refinancing

If you still have some room to improve your mortgage interest rate or want new loan terms, these lenders are among the best for Nevadans.

loanDepot

at LoanDepot

Min. Credit Score

620

National / Regional

National

Pros

  • Offers conventional and government-backed refinance mortgages.
  • Offers a “lifetime guarantee” on future refinances: no lender fees and reimbursal of appraisal cost.
  • Advertises a "no steering" policy for refinance loans.

Cons

  • Must provide personal information to get a customized refinance rate quote.
  • Has fewer high-tech refinance tools than other lenders, such as no mobile app.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Embraces FHA-backed home loans.
  • Offers several types of construction and renovation mortgages.
  • A professional loan package is tailored for the needs of doctors, lawyers, nurse practitioners, airline pilots and certified public accountants.
  • Flagstar reps are familiar with low-down-payment state bond programs for first-time home buyers and income-limited households, as well as the areas that qualify for USDA loans.
  • Offers home equity loans and home equity lines of credit.

Cons

  • Charges an average $1,295 in underwriting and processing fees.
Read full review

Summary of Best Nevada Mortgage Lenders of 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Guild Mortgage

Guild Mortgage

first-time home buyers + lower credit scores

620

3%

Read review
New American Funding

New American Funding

at New American

first-time home buyers

620

3%

at New American

Bank of America

Bank of America

home equity borrowers

620

3%

Read review
US Bank

US Bank

At U.S. Bank

home equity borrowers

N/A

N/A

At U.S. Bank

Vylla

Vylla

at Vylla

borrowers with lower credit scores

620

3%

at Vylla

Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

620

3%

at Rocket Mortgage

Guaranteed Rate

Guaranteed Rate

online experience

620

3%

Read review
loanDepot

loanDepot

at LoanDepot

refinancing

620

3.5%

at LoanDepot

Flagstar

Flagstar

refinancing

620

3%

Read review
LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Guild Mortgage

Guild Mortgage

first-time home buyers + lower credit scores

620

3%

Read review
New American Funding

New American Funding

at New American

first-time home buyers

620

3%

at New American

Bank of America

Bank of America

home equity borrowers

620

3%

Read review
US Bank

US Bank

At U.S. Bank

home equity borrowers

N/A

N/A

At U.S. Bank

Vylla

Vylla

at Vylla

borrowers with lower credit scores

620

3%

at Vylla

Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

620

3%

at Rocket Mortgage

Guaranteed Rate

Guaranteed Rate

online experience

620

3%

Read review
loanDepot

loanDepot

at LoanDepot

refinancing

620

3.5%

at LoanDepot

Flagstar

Flagstar

refinancing

620

3%

Read review

Last updated on July 2, 2019

Methodology

NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best Nevada Mortgage Lenders of 2019