BEST OF
11 Best Online Mortgage Lenders of April 2021
Online mortgage lenders offer convenience, automation and digital tools. Browse our picks for the best online lenders.
Online mortgage and refinance companies offer convenience and automation. They can even save you money. And if you want to see a friendly face before you close a deal, online lenders can often provide that, too.
To help you choose an online mortgage lender, NerdWallet has picked some of the best in a variety of categories to help you get the home loan with the best mortgage rate, term and fees.
Online mortgage and refinance companies offer convenience and automation. They can even save you money. And if you want to see a friendly face before you close a deal, online lenders can often provide that, too.
To help you choose an online mortgage lender, NerdWallet has picked some of the best in a variety of categories to help you get the home loan with the best mortgage rate, term and fees.
Summary of Best Online Mortgage Lenders of April 2021
Lender | NerdWallet Rating | Minimum Credit Score | National / Regional | Learn More |
---|---|---|---|---|
Best for refinancing | 620 | National | at Better | |
Best for mobile experience | 620 | National | at Rocket Mortgage by Quicken Loans | |
Best for online lending overall | 620 | National | at Guaranteed Rate | |
Best for veterans | 660 | National | at NBKC | |
Best for customer service | 620 | National | at Quicken Loans | |
Best for conventional loans | 620 | National | at Ally Bank | |
Best for government loans | 640 | National | at Fairway Independent Mortgage | |
Best for refinance | 620 | Regional | at Reali Loans | |
Best for government loans | 620 | National | Read review | |
Best for assistance programs | 620 | National | Read review | |
Best for online lending overall | 620 | National | Read review |
at Better
Better: NMLS#330511

Min. Credit Score
National / Regional
at Better
at Rocket Mortgage by Quicken Loans
Rocket Mortgage by Quicken Loans: NMLS#3030
Min. Credit Score
Min. Down Payment
at Rocket Mortgage by Quicken Loans
at Guaranteed Rate
Guaranteed Rate: NMLS#2611

Min. Credit Score
National / Regional
at Guaranteed Rate
at NBKC
NBKC: NMLS#409631
Min. Credit Score
Min. Down Payment
at NBKC
at Quicken Loans
Quicken Loans: NMLS#3030
Min. Credit Score
Min. Down Payment
at Quicken Loans
at Ally Bank
Ally Bank: NMLS#181005

Min. Credit Score
Min. Down Payment
at Ally Bank
at Fairway Independent Mortgage
Fairway Independent Mortgage: NMLS#2289

Min. Credit Score
Min. Down Payment
at Fairway Independent Mortgage
at Reali Loans
Reali Loans: NMLS#991397
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Min. Credit Score
National / Regional
at Reali Loans
SunTrust (Truist): NMLS#2915

Min. Credit Score
Min. Down Payment
Bank of America: NMLS#399802

Min. Credit Score
Min. Down Payment
Wells Fargo: NMLS#399801

Min. Credit Score
Min. Down Payment
What is an online mortgage?
"Online mortgage" refers to a mortgage from a lender with no physical presence. That definition has broadened, as even banks with brick-and-mortar branches all across the country offer robust online capabilities.
When NerdWallet gathers the top online mortgage lenders, we look for lenders that let borrowers apply, upload necessary documents and track the entire loan process via an app or a mobile-friendly website. But you'll find plenty of lenders that offer even more online conveniences, like online preapproval, custom rate quotes or the ability to live chat with an actual person.
How does an online mortgage work?
The process varies depending on the lender. But in general, an online mortgage lender should allow you to accomplish key tasks like getting rate quotes, filling out an application and uploading documents from your computer or mobile device. In some cases, you may not even need to dig up all of the documents yourself.
Many lenders can access necessary information from government agencies, financial institutions and employers (with your permission, of course), and take days off the closing process. And with e-closings, you can even close the loan remotely in a little as 15 minutes.
More from NerdWallet:
Last updated on April 13, 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 Online Mortgage Lenders of April 2021
- Better: Best for refinancing
- Rocket Mortgage by Quicken Loans: Best for mobile experience
- Guaranteed Rate: Best for online lending overall
- NBKC: Best for veterans
- Quicken Loans: Best for customer service
- Ally Bank: Best for conventional loans
- Fairway Independent Mortgage: Best for government loans
- Reali Loans: Best for refinance
- SunTrust (Truist): Best for government loans
- Bank of America: Best for assistance programs
- Wells Fargo: Best for online lending overall
Frequently asked questions
Are you a first-time buyer, a veteran or have a low credit score? If you're trying to figure out the best online mortgage lender for you, look for a lender that suits your situation and offers the type of mortgage you need. And even if you're just looking for online convenience, location matters. Some top online mortgage lenders aren't available to borrowers in every state.
Offerings vary by lender, but with a bit of searching, you can find an online mortgage lender for virtually any type of home loan. Understanding your situation — first-time buyer, veteran, bad credit — is key to narrowing your search for a lender to fit your needs.
When you're evaluating online lenders, consider your goals. In addition to being sure that they offer the kind of mortgage you need, think about what's important to you outside the application and approval process — after all, this could be a long-term relationship. Check out customer service options and even test-drive the lender’s platform by getting preapproved.
It's possible to get an online mortgage with a low or "bad" credit score, but you'll want to look at lenders’ minimum credit scores before submitting an application.