Best of
Best Mortgage Lenders with No Origination Fee of 2019
Hal M. Bundrick, CFPJuly 8, 2019
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.
at Better.com
4.5
NerdWallet ratingat Better.com
Min. Credit Score
620
Min. Down Payment
3%
Ideal for tech-savvy borrowers that prefer an online experience. Better.com provides a seamless and easy-to-navigate application process. And best yet: Better.com 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.
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at Reali Loans
at Reali Loans
Min. Credit Score
620
Min. Down Payment
5%
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.
at Network Capital
3.5
NerdWallet ratingat Network Capital
Min. Credit Score
620
Min. Down Payment
3%
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.
at AmeriSave
3.5
NerdWallet ratingat AmeriSave
Min. Credit Score
600
Min. Down Payment
3%
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.
Min. Credit Score
620
Min. Down Payment
3%
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.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers looking for help with closing costs: PrimeLending's proprietary program, NeighborhoodEdge, helps qualified low- to moderate-income borrowers with up to $2,000 in closing cost credits (certain restrictions are based on income and location).
Pros
- Low rate of consumer complaints filed with the Consumer Financial Protection Bureau.
- Request a pre-qualification through PrimeLending’s secure system from a phone, tablet or computer.
- Niche mortgage products include energy-efficient mortgages, FHA 203(k) renovation and remodeling loans, manufactured home mortgages and home construction loans.
- Free “float down” interest rate option lets borrowers choose the lower rate if interest rates fall, even with a rate lock.
- NeighborhoodEdge closing cost assistance program for low- to moderate-income borrowers allows qualified borrowers $2,000 in closing cost credits (restrictions on income and location).
- “Alternative doc” program lets borrowers qualify for mortgage based on bank statements rather than tax returns.
Cons
- No live chat online.
- No online mortgage rate quotes.
Summary of Best Mortgage Lenders with No Origination Fee of 2019
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Better.com NerdWallet rating at Better.com | online experience | 620 | 3% | at Better.com |
Reali Loans at Reali Loans | online experience | 620 | 5% | at Reali Loans |
Network Capital NerdWallet rating at Network Capital | purchase loans | 620 | 3% | at Network Capital |
Amerisave NerdWallet rating at AmeriSave | purchase loans | 600 | 3% | at AmeriSave |
 NASB | VA loans | 620 | 3% | Read review |
 PrimeLending | VA loans | 620 | 3% | Read review |
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Better.com NerdWallet rating at Better.com | online experience | 620 | 3% | at Better.com |
Reali Loans at Reali Loans | online experience | 620 | 5% | at Reali Loans |
Network Capital NerdWallet rating at Network Capital | purchase loans | 620 | 3% | at Network Capital |
Amerisave NerdWallet rating at AmeriSave | purchase loans | 600 | 3% | at AmeriSave |
NASB | VA loans | 620 | 3% | Read review |
PrimeLending | VA loans | 620 | 3% | Read review |
Last updated on July 8, 2019
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 2019
- : Best for online experience
- : Best for online experience
- : Best for purchase loans
- : Best for purchase loans
- NASB: Best for VA loans
- PrimeLending: Best for VA loans
