Best Online Mortgage Lenders of August 2019

Pros

• The site caters to self-service users who want to apply for a home loan without talking to a human unless it’s absolutely necessary.
• With your authorization, accesses asset statements from 98% of U.S. financial institutions.
• Tells you the loan amount you’ll qualify for within minutes.
• Rocket Mortgage’s document and asset retrieval capabilities can save you a bunch of time and hassle.

Pros

• Claims a three-minute application process for initial preapproval.
• An online process with human help as needed.
• Loan officers aren't paid commissions, they are strictly available for "support, not sales."
• For higher-value homes, offers 10% down with no mortgage insurance on jumbo loans.
• Offers an "underwriter-reviewed" preapproval letter in as little as 24 hours.

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%.

Pros

• Wide variety of terms, including 10-, 15-, 20-, 25- and 30-year fixed-rate mortgages and ARMs with 3/1, 5/1, 7/1 and 10/1 terms.
• Offers Fannie Mae and Freddie Mac programs for low- to moderate-income home buyers.
• VA lending is one-third of J.G. Wentworth’s business. A number of loan officers and other employees are former service members.
• Focus on automation includes an entirely online loan application process, digital document uploads, loan tracking and signatures as well as pre-qualification letters by email.
• Licensed in all states except for Hawaii, Missouri, Montana, Nevada and New York.

Pros

• Complete and track your application online, and sign documents electronically.
• Free rate locks.
• No lender fee for VA borrowers.
• Mobile apps for iOS and Android.

Pros

• Provides an entirely digital mortgage application to make the process easier for borrowers.
• Considers nontraditional income, such as restricted stock units, and works with self-employed borrowers.
• Does not require private mortgage insurance for jumbo loans.

Pros

• Boasts of closing loans quickly.
• No upfront origination or broker fees.
• 24/7 access to your loan and its progress.
• Transparent platform that automates (and shortens) the refinance process.

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.

Pros

• Offers a complete online suite of mortgage application tools and loan tracking.
• Has plenty of loan options to choose from and competitive interest rates.
• Provides customer service in its physical locations, online, via chat and by phone.
• Has a Doctor Loan Program for medical professionals who have high earning potential but little cash for down payments.

Pros

• A robust suite of loan products.
• Licensed in all 50 states.
• Close in as little as 10 days using the Fairway app.

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.