6 Best Mortgage Lenders with No Origination Fee of 2019

Why we like it

Ideal for tech-savvy borrowers who prefer an online experience. Better.com provides an easy-to-navigate digital application process and charges no origination fee.

Pros

• Claims a three-minute application process for initial preapproval.

• An online process with human help as needed.

• Loan officers aren't paid commissions, they are strictly available for "support, not sales."

• For higher-value homes, offers 10% down with no mortgage insurance on jumbo loans.

• Offers an "underwriter-reviewed" preapproval letter in as little as 24 hours.

Cons

• Doesn't offer home equity loans or HELOCs.

• Doesn't do VA or USDA loans.

• Not available in all 50 states.

Why we like it

Ideal for tech-savvy home buyers and refinancers in its multi-state lending territory. Reali Loans has an automated lending platform that offers round-the-clock access to application and loan-management tools.

Pros

• Boasts of closing loans quickly.

• No upfront origination or broker fees.

• 24/7 access to your loan and its progress.

• Transparent platform that automates (and shortens) the refinance process.

Cons

• Currently operates in a limited number of states.

• Doesn’t offer USDA government loans.

Why we like it

Ideal for cost-conscious borrowers looking for a lender with no origination fees and online convenience with mortgage banker assistance.

Pros

• Charges no lender fees.

• A good selection of loan products, including all government-backed mortgages.

• Offers jumbo loans up to $3 million.

Cons

• Offers no home equity products.

• Doesn't lend in all states.

Why we like it

Ideal for borrowers looking for a large selection of mortgages, including government loans — and the flexibility of a loan closing in your home.

Pros

• Does not charge origination fees or application fees.

• Loan closings can be held in your home or at a local office of your choice.

• Offers rewards of $250-$4,500 on home purchases or sales completed through a network of affiliated real estate agents.

Cons

• Fees shown with mortgage rates on the home page are above the national average.

• Doesn’t offer home equity loans or HELOCs.

Why we like it

Ideal for active military members and veterans as well as for borrowers with less-than-perfect credit or nontraditional income sources.

Pros

• Devotes much of its business to serving military families with VA loans.

• Considers nontraditional income sources.

• IRA nonrecourse loans for buying investment property.

Cons

• No online loan process updates or tracking.

Why we like it

Ideal for borrowers with past credit issues and those looking for down payment and closing cost assistance programs.

Pros

• Low rate of consumer complaints filed with the Consumer Financial Protection Bureau.

• Offers a "float-down" interest rate lock.

• Offers a proprietary closing-cost assistance program.

Cons

• No online mortgage rates.

• Charges an origination fee.

• Doesn't offer home equity products.