12 Best Online Mortgage Lenders of February 2023
Online mortgage lenders offer convenience, automation and digital tools. Browse our picks for the best online lenders.
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Online mortgage and refinance companies offer convenience and automation. They might 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.
Online mortgage and refinance companies offer convenience and automation. They might 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.
Best Online Mortgage Lenders
Lender | NerdWallet rating | Min. credit score | Min. down payment | Learn more |
---|---|---|---|---|
NBKC: NMLS#409631 Learn more at NBKC | Best for overall mortgage experience | 620 | 3% | Learn more at NBKC |
![]() New American Funding: NMLS#6606 Learn more at New American Funding | Best for FHA loans | 620 | 3% | Learn more at New American Funding |
![]() Pennymac: NMLS#35953 Learn more at Pennymac | Best for FHA loans | 620 | 3% | Learn more at Pennymac |
![]() Better: NMLS#330511 Learn more at Better | Best for refinancing | 620 | N/A | Learn more at Better |
![]() PNC: NMLS#446303 Learn more at PNC | Best for traditional lending experience | 620 | 3% | Learn more at PNC |
![]() Guaranteed Rate: NMLS#2611 Learn more at Guaranteed Rate | Best for variety of loan types | 620 | 3% | Learn more at Guaranteed Rate |
![]() Ally Bank: NMLS#181005 | Best for low interest rates | 620 | 3% | Read review |
![]() Carrington: NMLS#2600 | Best for borrowers with weaker credit | 620 | 5% | Read review |
![]() Golden 1 Credit Union: NMLS#669333 | Best for California residents | 620 | 3% | Read review |
![]() San Diego County Credit Union: NMLS#580585 | Best for credit union lending | N/A | 5% | Read review |
![]() Alliant: NMLS#197185 | Best for low down payment options | N/A | 3% | Read review |
![]() Flagstar: NMLS#417490 | Best for variety of loan types | 620 | 3% | Read review |

at New American Funding
New American Funding: NMLS#6606

Min. credit score
620Min. down payment
3%at New American Funding

at Pennymac
Pennymac: NMLS#35953

Min. credit score
620Min. down payment
3%at Pennymac

at Better
Better: NMLS#330511

Min. credit score
620National / regional
Nationalat Better

at Guaranteed Rate
Guaranteed Rate: NMLS#2611

Min. credit score
620Min. down payment
3%at Guaranteed Rate
Ally Bank: NMLS#181005

Min. credit score
620Min. down payment
3%Carrington: NMLS#2600

Min. credit score
620Min. down payment
5%Golden 1 Credit Union: NMLS#669333

Min. credit score
620Min. down payment
3%San Diego County Credit Union: NMLS#580585

Min. down payment
5%National / regional
RegionalAlliant: NMLS#197185

National / regional
NationalMin. down payment
3%Flagstar: NMLS#417490

Min. credit score
620Min. down payment
3%What is an online mortgage lender?
An online mortgage lender is a bank, credit union or other lender that provides digital convenience, for example, the ability to apply for a mortgage or track your application online. Most lenders offer some degree of online capability, but the best online lenders go a step further.
Online lenders also make it easy for borrowers to get preapproved for a mortgage online through a mobile-friendly website or app. Some online lenders do business strictly online while others also have brick-and-mortar branches.
Can an online mortgage lender get me a better rate?
Comparing mortgage rates from multiple lenders is the best way to secure the lowest rate, but not all mortgage lenders post rates online. Some require potential borrowers to complete a contact form or make a phone call for sample rates. The best online mortgage lenders on this page allow borrowers to see sample rates online, as well as customize rates by location and credit score. Learn how to get the best mortgage rate.
How does an online mortgage lender work?
Generally, an online mortgage lender should allow you to get rate quotes, fill out an application and upload 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, 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 January 3, 2023
Methodology
The star ratings on this page reflect each lender's overall star ratings. Read more about how we determine those ratings.
The lenders on this page are chosen using this methodology:
NerdWallet reviewed more than 50 mortgage lenders, including the majority of the largest U.S. mortgage lenders by annual loan volume (measured among lenders with at least a 1% market share), lenders with significant online search volume and those that specialize in serving various audiences across the country.
For inclusion in this roundup, lenders must have an app or mobile-friendly website which allow customers to apply for mortgage preapproval, upload documents, electronically sign documents and track loan progress. Lenders must also post rates online that are easily accessible and can be personalized by location and credit score. Displayed rates must have at least two assumptions, such as down payment amount, discount points, closing costs or other details, clearly spelled out.
NerdWallet solicits information from reviewed lenders on a recurring basis throughout the year. All lender-provided information is verified through lender websites and interviews. We also utilized 2021 Home Mortgage Disclosure Act data for origination volume, origination fee, rate spread and share-of-product data.
To recap our selections...
NerdWallet's Best Online Mortgage Lenders of February 2023
- NBKC: Best for overall mortgage experience
- New American Funding: Best for FHA loans
- Pennymac: Best for FHA loans
- Better: Best for refinancing
- PNC: Best for traditional lending experience
- Guaranteed Rate: Best for variety of loan types
- Ally Bank: Best for low interest rates
- Carrington: Best for borrowers with weaker credit
- Golden 1 Credit Union: Best for California residents
- San Diego County Credit Union: Best for credit union lending
- Alliant: Best for low down payment options
- Flagstar: Best for variety of loan types
Frequently asked questions
Most lenders have some online capabilities. Look for a lender that offers the type of mortgage and the services you need and does business in your area. 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, including those geared to first-time home buyers, veterans and borrowers with low credit scores.
Compare rates and fees among lenders that offer the type of mortgage you want. Check out customer service options to make sure they meet your needs, and apply for preapproval with at least three lenders. Choose the lender that offers the best rate at the lowest cost.
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.