12 Best Online Mortgage Lenders of June 2022
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 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.
Best Online Mortgage Lenders
Lender | NerdWallet Rating | Min. credit score | Min. down payment | Learn More |
---|---|---|---|---|
![]() Ally Bank: NMLS#181005 Learn more at Ally Bank | Best for first-time home buyers | 620 | 3% | Learn more at Ally Bank |
![]() NASB: NMLS#400039 Learn more at NASB | Best for VA loans | 640 | 0% | Learn more at NASB |
![]() Reali Loans: NMLS#991397 Learn more at Reali Loans | Best for digital convenience | 620 | 5% | Learn more at Reali Loans |
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 first-time home buyers | 620 | 3% | Learn more at Pennymac |
![]() Better: NMLS#330511 Learn more at Better | Best for refinancing | 620 | N/A | Learn more at Better |
![]() Carrington: NMLS#2600 | Best for FHA loans | 620 | 3% | Read review |
![]() Wells Fargo: NMLS#399801 | Best for digital convenience | 620 | 3% | Read review |
![]() Flagstar: NMLS#417490 | Best for refinancing | 620 | 3% | Read review |
![]() Golden 1 Credit Union: NMLS#669333 | Best for digital convenience | 620 | 3% | Read review |
![]() LenderFI: NMLS#133056 | Best for refinancing | 620 | 3% | Read review |
![]() San Diego County Credit Union: NMLS#580585 | Best for digital convenience | N/A | 5% | Read review |

at Ally Bank
Ally Bank: NMLS#181005

Min. credit score
620Min. down payment
3%at Ally Bank
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at Reali Loans
Reali Loans: NMLS#991397
.png)
Min. credit score
620Min. down payment
5%at Reali Loans
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
Carrington: NMLS#2600

Min. credit score
620Min. down payment
3%Wells Fargo: NMLS#399801

Min. credit score
620Min. down payment
3%Flagstar: NMLS#417490

Min. credit score
620Min. down payment
3%Golden 1 Credit Union: NMLS#669333

Min. credit score
620Min. down payment
3%LenderFI: NMLS#133056

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

Min. down payment
5%National / regional
RegionalWhat is an online mortgage lender?
An online mortgage lender is a bank, credit union or other lender that provides digital conveniences, allowing borrowers to check rates and apply online. Some online lenders do business strictly online while others also have brick-and-mortar branches.
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 March 14, 2022
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 nearly 60 mortgage lenders, including the majority of the largest U.S. mortgage lenders by annual loan volume (lenders had to have 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 2020 HMDA data for origination volume, origination fee, rate spread and share-of-product data.
To recap our selections...
NerdWallet's Best Online Mortgage Lenders of June 2022
- Ally Bank: Best for first-time home buyers
- NASB: Best for VA loans
- Reali Loans: Best for digital convenience
- New American Funding: Best for FHA loans
- Pennymac: Best for first-time home buyers
- Better: Best for refinancing
- Carrington: Best for FHA loans
- Wells Fargo: Best for digital convenience
- Flagstar: Best for refinancing
- Golden 1 Credit Union: Best for digital convenience
- LenderFI: Best for refinancing
- San Diego County Credit Union: Best for digital convenience
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.