Best of

9 Best Nevada Mortgage Lenders of 2020

NerdWalletJanuary 2, 2020

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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

Our picks for

first-time home buyers

Guild Mortgage: NMLS#3274

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for: first-time home buyers and others who may need the flexibility of a low-down-payment loan program.

Pros

  • Offers multiple online conveniences, including a full mortgage application, e-signatures and digital loan process tracking.

  • Offers a wide variety of loan products, including home improvement and manufactured home loans.

Cons

  • Does not offer home equity loan products.

  • Average interest rates and fees are higher than other lenders.

Read Full Review
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at New American

New American Funding: NMLS#6606

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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

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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

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National / Regional

National

Max LTV

80%


Why we like it

Good for: borrowers looking for low closing cost options. The 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.

Cons

  • No personalized mortgage rates available online.

  • Published mortgage rates assume an above-average credit score.

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

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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

Good for: first-time home buyers and others who may need the flexibility of a low-down-payment loan program.

Pros

  • Offers multiple online conveniences, including a full mortgage application, e-signatures and digital loan process tracking.

  • Offers a wide variety of loan products, including home improvement and manufactured home loans.

Cons

  • Does not offer home equity loan products.

  • Average interest rates and fees are higher than other lenders.

Read Full Review

Our picks for

online experience

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

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at Rocket Mortgage

Rocket Mortgage by Quicken Loans: NMLS#3030

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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

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for borrowers seeking conventional or government-backed loans, and a totally online experience.

Pros

  • Offers the ability to securely upload and digitally sign loan documents.

  • Displays detailed sample rates for many of its loan products.

Cons

  • Doesn't offer home equity loans or lines of credit.

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.

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at LoanDepot

loanDepot: NMLS#174457

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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 digital income, asset and employment verification.

  • Offers multiple renovation loan options.

  • Has over 200 affiliated loan stores nationwide for customers who prefer face-to-face service.

Cons

  • Mortgage rates aren't available online; you'll need to contact a loan officer.

  • Does not offer home equity loans or lines of credit.

Read Full Review

Flagstar: NMLS#417490

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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 star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. 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