9 Best Nevada Mortgage Lenders of 2020

Why we like it

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.

Why we like it

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.

Why we like it

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.

Why we like it

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.

Why we like it

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.

Why we like it

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.

Why we like it

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.

Why we like it

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.

Why we like it

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.

Why we like it

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.