10 Best Nonbank Mortgage Lenders of 2022

Why we like it

Pros

• Uses manual underwriting to evaluate creditworthiness, in some cases.

• Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

• Mortgage origination fees tend to be on the high end, according to the latest federal data.

Why we like it

Pros

• Offers reverse mortgages and interest-only loans for certain borrowers.

• Online capabilities include a full application, as well as loan process updates.

Cons

• Does not offer home improvement loans.

• Fully customized mortgage rates not available without providing contact information.

Why we like it

Pros

• Offers 24/7 customer service over the phone.

• Has online application and pre-qualification.

• Offers a free credit counseling service.

• Employs advisors from each branch of the armed forces.

Cons

• Doesn’t offer home equity loans or HELOCs.

• Veterans United has physical branch offices in only 17 states.

• Information on FHA, USDA and conventional loans is harder to find on its website.

Why we like it

Pros

• Offers a completely online application process.

• Posts current interest rates for purchase and refinancing.

• Provides customized rate quotes online.

Cons

• Available in just 14 states.

• Offers fewer loan types and products than other lenders.

Why we like it

Pros

• Offers a full range of online capabilities, including e-signatures and online loan process tracking.

• Displays custom rate quotes based on home value, down payment or equity, ZIP code and credit score range.

Cons

• Origination fees are on the higher end, according to the latest federal data.

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

Why we like it

Pros

• A mobile app supports the loan process.

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

• Offers jumbo loans up to $30 million.

Cons

• Doesn't lend in all states.

• Website doesn’t provide customized mortgage rates.

Why we like it

Pros

• An online process with human help as needed.

• Makes it easy to see customized mortgage rates.

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

• Appraisal guarantee promises the loan won’t change even if appraisal is lower than expected.

Cons

• Doesn't offer home equity loans or HELOCs.

• Doesn't do VA or USDA loans.

• Appraisal guarantee is limited to borrowers who use Better real estate agents.

Why we like it

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.

Why we like it

Pros

• Has a full suite of online capabilities, including application, document uploading and process updates.

• Site displays many combinations of loans and interest rates.

• Rates and fees are lower than most lenders, according to the latest data.

Cons

• Home equity loans and lines of credit, as well as purchase-renovation loans, aren't options.

• VA loans are currently unavailable.

Why we like it

Pros

• Offers multiple low-down-payment loan programs.

• May consider alternative credit data, such as bank statements and rent payments.

• You can view customized rates for purchasing a home and apply online.

Cons

• Doesn't offer home equity loans, HELOCs or renovation mortgages.

• Lender fees and mortgage rates are on the high side, according to the latest data.