BEST OF
10 Best North Carolina Mortgage Lenders of 2021
If you're shopping for a mortgage in North Carolina, NerdWallet has done the research. Here are the best mortgage lenders for a variety of needs, including first-time home buyers.
As a North Carolinian, you probably have firm ideas about which barbecue style is best. But when you shop for a mortgage, the options may leave you stumped.
Will this be your first home? Do you want to talk face to face with a mortgage lender? Do you have imperfect credit? Are you trying to refinance, or get a VA loan? NerdWallet is here to help you find the best mortgage lender in North Carolina for your needs.
As a North Carolinian, you probably have firm ideas about which barbecue style is best. But when you shop for a mortgage, the options may leave you stumped.
Will this be your first home? Do you want to talk face to face with a mortgage lender? Do you have imperfect credit? Are you trying to refinance, or get a VA loan? NerdWallet is here to help you find the best mortgage lender in North Carolina for your needs.
Summary of Best North Carolina Mortgage Lenders of 2021
| Lender | NerdWallet Rating | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Best for first-time home buyers | 620 | 3% | at Quicken Loans | |
Best for weaker credit | 620 | 3% | at New American Funding | |
Best for refinancing | 620 | 3% | at Guaranteed Rate | |
Best for first-time home buyers | 620 | 5% | at loanDepot | |
Best for veterans | 650 | 0% | at Veterans United | |
Best for veterans | N/A | 0% | Read review | |
Best for face-to-face service | 620 | 3% | Read review | |
Best for face-to-face service | 620 | 3% | Read review | |
Best for weaker credit | 620 | 3% | Read review | |
Best for refinancing | 620 | 3% | Read review |
at Quicken Loans
at Quicken Loans
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Quicken Loans couples a fully online application with available mortgage advisors for those who want a human touch.
- Instantly verifies employment and income for many working Americans.
- Offers custom fixed-rate loan terms that are between eight and 30 years.
- Provides a wide variety of loan types, including renovation loans and all government-backed mortgage products.
Cons
- Quicken Loans doesn't offer home equity loans or HELOCs.
- Quicken's lender fees can be stout and they don't offset those fees with particularly low mortgage rates.
at New American Funding
at New American Funding
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Uses manual underwriting to evaluate creditworthiness.
- Offers full online mortgage application, rate quotes, document upload and loan tracking.
Cons
- Mortgage rates offered to borrowers are higher than the government-reported median of all lenders.
at Guaranteed Rate
at Guaranteed Rate
Min. Credit Score
620
National / Regional
National
Pros
- Offers the ability to securely upload and digitally sign loan documents.
- Displays detailed sample rates for many of its refinance loan products.
Cons
- May charge an application fee.
at loanDepot
at loanDepot
Min. Credit Score
620
Min. Down Payment
5%
Pros
- Offers digital income, asset and employment verification.
- Offers multiple renovation loan options.
- Has over 200 affiliated loan stores nationwide for customers who prefer face-to-face service.
Cons
- Mortgage rates aren't available online; you'll need to contact a loan officer.
- Does not offer home equity loans or lines of credit.
at Veterans United
at Veterans United
Min. Credit Score
650
Min. Down Payment
0%
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 18 states.
- Information on FHA, USDA and conventional loans is harder to find on their website.
- Charges higher rates and fees than some other lenders.
National / Regional
National
Min. Down Payment
0%
Pros
- Offers a wide range of affordable mortgage products designed for military members.
- Has an online application for preapproval.
- Offers low rates compared with most lenders.
Cons
- Website does not provide customized mortgage rates based on credit score or other factors before you apply.
- Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers a variety of low-down-payment mortgages as well as construction mortgages.
- Website lets users estimate rates online by loan and property type, amount and location.
- Has an online mortgage application.
Cons
- Branches limited to mostly the Southeast region.
- Does not offer FHA loans.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Posts current mortgage rates on its website.
- Has an online application for mortgage preapproval and a digital tool to track application progress.
- Offers several affordable loan options including FHA, VA, USDA and the PNC Community Loan.
Cons
- Can't complete a full mortgage application online.
- Doesn't offer renovation mortgages.
- In-person service is not available in every state.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers multiple low-down-payment loan programs.
- May consider alternative credit data, like bank statements and rent payments.
Cons
- To get sample rates, you'll have to speak with a loan officer.
- Doesn't offer home equity loans or HELOC.
Min. Credit Score
620
National / Regional
National
Pros
- Offers refinance mortgages with fixed and adjustable rates.
- Allows borrowers to apply entirely online.
- May give existing customers a discount on mortgage lender origination fees.
Cons
- Does not offer renovation loans.
Last updated on January 21, 2021
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
To recap our selections...
NerdWallet's Best North Carolina Mortgage Lenders of 2021
- Quicken Loans: Best for first-time home buyers
- New American Funding: Best for weaker credit
- Guaranteed Rate: Best for refinancing
- loanDepot: Best for first-time home buyers
- Veterans United: Best for veterans
- Navy Federal: Best for veterans
- BB&T (Truist): Best for face-to-face service
- PNC: Best for face-to-face service
- Carrington: Best for weaker credit
- Bank of America: Best for refinancing
