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6 Best Mortgage Lenders with No Origination Fee of 2020

Hal M. Bundrick, CFPJanuary 2, 2020

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

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.

Summary of Best Mortgage Lenders with No Origination Fee of 2020

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Better.com

Better.com

NerdWallet rating 

at Better.com

online experience

620

3%

at Better.com

Reali Loans

Reali Loans

NerdWallet rating 

at Reali Loans

online experience

620

5%

at Reali Loans

Network Capital

Network Capital

NerdWallet rating 

at Network Capital

purchase loans

620

3%

at Network Capital

Amerisave

Amerisave

NerdWallet rating 

at AmeriSave

purchase loans

600

3%

at AmeriSave

NASB

NASB

NerdWallet rating 

at NASB

VA loans

620

3%

at NASB

PrimeLending

PrimeLending

NerdWallet rating 
Read review

VA loans

620

3%

Read review
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at Better.com

Better.com: NMLS#330511

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

Logo

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 AmeriSave

Amerisave: NMLS#1168

3.5

NerdWallet rating 
Logo

Min. Credit Score

600

Min. Down Payment

3%

at AmeriSave

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.

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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
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Read review

PrimeLending: NMLS#13649

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Min. Credit Score

620

Min. Down Payment

3%

Read review

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.

Read Full Review

More from NerdWallet

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 Mortgage Lenders with No Origination Fee of 2020

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