Best of

9 Best Nevada Mortgage Lenders of 2020

NerdWalletJanuary 2, 2020

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not 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.

If you live in Nevada, two things are likely: You love living there — and you know how to pronounce the state’s name. If you’re looking to buy a home, refinance your mortgage or tap your home’s equity, you’ll want a lender that is knowledgeable about the state and can suit your needs.

Lenders may strive to be all-things-to-all-borrowers, but they typically have specialties. We’ve boiled down the best Nevada mortgage lenders in five in-demand categories for Silver State residents.

Summary of Best Nevada Mortgage Lenders of 2020

LenderNerdWallet Rating Minimum Credit Score Minimum Down PaymentLearn More

Guild Mortgage: NMLS#3274

Best for first-time home buyers + lower credit scores

620

3%

Read review

New American Funding: NMLS#6606

at New American

Best for first-time home buyers

700

3%

at New American

Bank of America: NMLS#399802

Best for home equity borrowers

620

3%

Read review

US Bank: NMLS#402761

Best for home equity borrowers

N/A

N/A

Read review

Vylla: NMLS#2600

Best for borrowers with lower credit scores

620

3%

Read review

Rocket Mortgage: NMLS#3030

at Rocket Mortgage

Best for online experience

620

3%

at Rocket Mortgage

Guaranteed Rate: NMLS#2611

Best for online experience

620

3%

Read review

loanDepot: NMLS#174457

at LoanDepot

Best for refinancing

620

3.5%

at LoanDepot

Flagstar: NMLS#417490

Best for refinancing

620

3%

Read review

Our picks for

first-time home buyers

Guild Mortgage: NMLS#3274

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers with a relatively high credit score who may need down payment assistance or help from a state housing agency.

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
Logo

at New American

New American Funding: NMLS#6606

Logo

Min. Credit Score

700

Min. Down Payment

3%

National / Regional

National

at New American


Why we like it

Ideal for borrowers who need to be evaluated on the basis of nontraditional credit. New American Funding offers FHA and VA loans, works with down payment assistance programs, and helps borrowers whose credit histories don't fit the mold of traditional banking.

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.

Bank of America: NMLS#399802

Logo

Min. Credit Score

620

National / Regional

National


Why we like it

Ideal for borrowers who like options. Bank of America offers multiple refinance loans, including FHA, VA and cash-out.

Pros

  • Offers refinance mortgages with fixed and adjustable rates.

  • Allows borrowers to apply entirely online.

  • May give existing customers a discount on mortgage lender origination fees.

Cons

  • Does not offer renovation loans.

Read Full Review

US Bank: NMLS#402761

Logo

National / Regional

National

Max LTV

80%


Why we like it

Ideal for borrowers who want low fees. No closing costs and annual fee is waived for HELOC borrowers with an eligible checking account

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: NMLS#2600

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for first-time home buyers or credit-challenged borrowers who may have trouble qualifying for a mortgage.

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

Guild Mortgage: NMLS#3274

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers with a relatively high credit score who may need down payment assistance or help from a state housing agency.

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.

Logo

at Rocket Mortgage

Rocket Mortgage: NMLS#3030

Logo

Min. Credit Score

620

Min. Down Payment

3%

at Rocket Mortgage


Why we like it

Ideal for anyone who appreciates smartphone app service, support and time savings. Rocket Mortgage offers a fully digital home loan experience with a large variety of mortgage products.

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

Guaranteed Rate: NMLS#2611

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers who are looking to apply for a mortgage and manage the process through online tools, whether buying or refinancing. Guaranteed Rate offers FHA, VA and USDA loans for borrowers who meet robust guidelines.

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.

Logo

at LoanDepot

loanDepot: NMLS#174457

Logo

Min. Credit Score

620

National / Regional

National

at LoanDepot


Why we like it

Ideal for anyone who wants online convenience with face-to-face options. Loan Depot has affiliated locations nationwide and is well-rated for low customer complaint volume.

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

Flagstar: NMLS#417490

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for borrowers who want a wide range of choices — not only among mortgage products, but also in the channel they prefer, whether a branch, online or on the phone.

Pros

  • Offers a wide range of loan types and products, including FHA, VA and USDA.

  • Has a full suite of online conveniences.

  • Does well with rate transparency, and monthly payment estimates add mortgage insurance, when applicable.

Cons

  • Doesn’t offer renovation loans at this time.

  • Home equity lending is geographically limited.

Read Full Review

Last updated on January 2, 2020

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 2020