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6 Best Mortgage Lenders with No Origination Fee of 2020

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It’s hard to find a lender that doesn’t charge an origination fee. But NerdWallet has done the research and found highly-rated loan providers without lender fees.

It’s a real challenge to find a lender that doesn’t charge an origination fee. And when it comes to the closing costs you’ll face when signing the paperwork for your loan, the mortgage origination fee can be a significant number. It’s often 1% of your total loan amount — or more.

NerdWallet constantly surveys mortgage providers about their origination fee and any other lender charges that will be included in your overall closing costs.

Here are our choices for highly-rated lenders in different borrower categories that don’t levy a loan origination fee.

NerdWallet tip: Even for lenders that have no origination fee loans, it may not be automatically offered — you may have to ask for loan terms that exclude an origination fee.

Summary of Best Mortgage Lenders with No Origination Fee of 2020

LenderNerdWallet Rating Minimum Credit Score Minimum Down PaymentLearn More

Better.com: NMLS#330511

at Better.com

Best for online experience

620

3%

at Better.com

Reali Loans: NMLS#991397

at Reali Loans

Best for online experience

620

5%

at Reali Loans

Network Capital: NMLS#11712

at Network Capital

Best for purchase loans

620

3%

at Network Capital

Fast Forward Home Loans: NMLS#224149

at Fast Forward Home Loans

Best for purchase loans

620

3%

at Fast Forward Home Loans

NASB: NMLS#400039

at NASB

Best for VA loans

620

3%

at NASB

PrimeLending: NMLS#13649

Best for VA loans

620

3%

Read review
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at Better.com

Better.com: NMLS#330511

Great for digital convenience

Logo

Min. Credit Score

620

Min. Down Payment

3%

at Better.com


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.

Read Full Review
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at Reali Loans

Reali Loans: NMLS#991397

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Min. Credit Score

620

Min. Down Payment

5%

at Reali Loans


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.

Read Full Review
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at Network Capital

Network Capital: NMLS#11712

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Min. Credit Score

620

Min. Down Payment

3%

at Network Capital


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.

Read Full Review
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at Fast Forward Home Loans

Fast Forward Home Loans: NMLS#224149

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Min. Credit Score

620

Min. Down Payment

3%

at Fast Forward Home Loans


Why we like it

Ideal for veterans, doctors and self-employed borrowers, Fast Forward Home Loans offers online conveniences and no fees.

Pros

  • Charges no origination fees.

  • Borrowers work with a dedicated loan officer until underwriting.

  • Offers digital conveniences including an online application and regular updates on the loan process.

Cons

  • Must contact a loan officer for a rate quote.

  • Not available in all 50 states.

  • Doesn't offer home equity loans or HELOCs.

Read Full Review
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at NASB

NASB: NMLS#400039

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Min. Credit Score

620

Min. Down Payment

3%

at NASB


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.

Read Full Review

PrimeLending: NMLS#13649

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for: borrowers looking for closing cost assistance, as well as those seeking to renovate or to build a new home.

Pros

  • Full online application includes document uploads and automated loan updates.

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

  • Offers a proprietary closing-cost assistance program.

Cons

  • No online mortgage rates — you have to contact the lender for info.

  • Doesn't offer home equity products.

Read Full Review

Last updated on June 26, 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 Mortgage Lenders with No Origination Fee of 2020