10 Best North Carolina Mortgage Lenders of 2019

Why we like it

Ideal choice for convenience and quick-response customer service. Quicken Loans provides just about all the services your neighborhood lender does — with online convenience.

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 more than 60% of working Americans.

• Offers custom fixed-rate loan terms that are between eight and 30 years.

• Provides FHA-backed loans, USDA loans as well as products offered by Freddie Mac and Fannie Mae that require down payments as low as 3%.

Cons

• Doesn't offer home equity loans or HELOCs.

• If you’re a “look me in the eye” type of customer, you’re out of luck.

• Doesn’t consider alternative credit data. It just looks at credit scores and debt-to-income ratios, the way most mortgage lenders always have.

Why we like it

Ideal for borrowers looking to get a mortgage with help from a loan officer. Digital back-office operations are said to add efficiency to the loan process.

Pros

• Offers digital income, asset and employment verification.

• Has over 150 affiliated loan stores nationwide for customers who prefer face-to-face service.

• One of the nation’s most active lenders of FHA and VA loans.

Cons

• Published mortgage rates include up to three points of prepaid interest and fees.

• Does not offer home equity loans or lines of credit.

Why we like it

Ideal for veterans and active-duty service members. Veterans United is the nation's largest VA home purchase lender but also offers an excellent selection of other government and conventional loans.

Pros

• Also offers FHA, USDA and conventional loans.

• Offers 24/7 customer service.

• You can complete a loan application and pre-qualify online.

• Registers a low volume of complaints filed with the Consumer Financial Protection Bureau.

• Offers free credit score education and assistance.

• Provides a client advocate team staffed by former senior enlisted leaders from each branch of the armed forces.

Cons

• Doesn’t offer home equity loans or HELOCs.

• Loans are available in all 50 states, but Veterans United has offices in only about half.

Why we like it

Ideal for military members and their families. Navy Federal Credit Union offers a wide range of mortgage products, an online application and considers alternative credit data for certain loan types.

Pros

• Wide range of affordable mortgage products designed for military members.

• Willing to look at nontraditional credit data, such as rent payments, as part of its credit evaluation for certain products.

• Online application for preapproval with quick decision.

Cons

• Website does not provide customized mortgage rates based on credit score or other factors before you apply.

Why we like it

Ideal for borrowers in the Southeast who want face-to-face service at one of more than 2,000 financial centers.

Pros

• Considers alternative credit history on certain loans.

• Offers construction loans to build a home or make significant renovations to an existing home.

• Flexible borrowing and payment options for home equity loans and lines of credit.

• Full suite of online capabilities.

Cons

• Available mostly in the Southeast; not available nationwide.

• Creating an account is mandatory if you want to apply online.

Why we like it

Ideal for borrowers with low to moderate incomes or limited down payments. PNC offers a low-down-payment loan with no mortgage insurance.

Pros

• Considers nontraditional credit history like rent payments.

• Online tools help you estimate mortgage payments and track application progress.

• Several affordable loan options including FHA, VA, USDA and the PNC Community Loan.

Cons

• It's not possible to complete the entire mortgage process online.

• Offers mortgage loans nationwide, but has branches in only about two dozen states.

Why we like it

Ideal for borrowers who need to be evaluated on the basis of nontraditional credit. New American Funding offers FHA and VA loans, works with down payment assistance programs, and helps borrowers whose credit histories don't fit the mold of traditional banking.

Pros

• Uses manual underwriting to evaluate creditworthiness.

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

• Home equity lending sets it apart from most non-bank lenders.

Cons

• Services not available in all 50 states.

Why we like it

Ideal for first-time home buyers or credit-challenged borrowers who may have trouble qualifying for a mortgage.

Pros

• Low minimum credit score.

• Online application, loan tracking and document upload.

• Free rate locks.

Cons

• No online preapproval.

• No presence in Massachusetts or North Dakota.

Why we like it

Ideal for borrowers who are looking to apply for a mortgage and manage the process through online tools, whether buying or refinancing. Guaranteed Rate offers FHA, VA and USDA loans for borrowers who are well-qualified.

Pros

• Works with most borrowers as long as they have good credit scores and incomes.

• Provides a user-friendly digital platform that’s thorough in covering all types of borrowing scenarios.

• Has a 95% customer satisfaction rate, according to company data.

Cons

• Charges some fees, such as a $1,290 lender fee that includes a $150 application fee.

• Offers many products, which might confuse or overwhelm borrowers.

• Several click-throughs required for personalized rates.

Why we like it

Ideal for borrowers who prefer a traditional bank. Bank of America offers a wide array of mortgages and online account management tools. It also has first-time home buyer loans with low down payments and no mandatory mortgage insurance.

Pros

• Allows borrowers to apply entirely online.

• Offers down payment and closing cost assistance programs.

• Accepts alternative credit data for some loan types.

• May give existing customers a discount on mortgage lender origination fees.

Cons

• Charges an application fee of $1,170, on average.

• Has a high volume of consumer complaints, even for a big national bank.