12 Best Online Mortgage Lenders of June 2023
Online mortgage lenders offer convenience, automation and digital tools. Browse our picks for the best online lenders.
Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.
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 |
|---|---|---|---|---|
 Guaranteed Rate: NMLS#2611 Top 3 most visited on NerdWallet 🏆 Learn moreat Guaranteed Rateat Guaranteed Rate | 5.0 /5 | 620 | 3% | Top 3 most visited on NerdWallet 🏆 Learn moreat Guaranteed Rateat Guaranteed Rate |
5.0 /5 | 620 | 3% | ||
5.0 /5 | 620 | 3% | ||
5.0 /5 | 620 | 3% | ||
4.5 /5 | 580 | 5% | Learn moreat New American Funding at New American Funding |
- Displays detailed sample rates for many of its loan products.
- Offers a wide variety of loans, including jumbo and interest-only products.
- Offers low rates compared with other lenders, according to the latest federal data.
- Doesn't offer home equity loans.
- Offers government-backed loans and some harder-to-find products, such as construction loans and specialty mortgages for pilots.
- Offers low rates and fees compared with other lenders, according to the latest federal data.
- Displays customized rates, with fee estimates, without requiring contact information.
- HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.
- Offers a wide variety of loan products, including government-backed and refinance options, as well as home equity loans.
- Displays custom rate quotes based on home value, down payment or equity, ZIP code and credit score range.
- “Lock & Shop” lets you secure a rate for up to 60 days, even if you don’t have a purchase contract yet.
- Origination fees are on the higher end, according to the latest federal data.
- Doesn't offer home equity lines of credit or renovation loans.
- Posts current mortgage rates on its website.
- Offers several affordable loan options, including FHA, VA, USDA and the PNC Community Loan.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
- Doesn't offer renovation mortgages.
- In-person service is not available in every state.
- Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
- Its home equity line of credit can be used for an owner-occupied or second home.
- Offers a program to enable buyers to make cash offers.
- Mortgage origination fees tend to be on the high end, according to the latest federal data.
- Excels in online convenience, with document upload, loan tracking and e-signatures.
- Offers good rate transparency; rate shoppers can see customized interest rates.
- Limited variety of loan products: FHA, VA and USDA loans are unavailable.
- Doesn't offer home equity loans and lines of credit.
- Offers a program allowing qualifying buyers to make cash offers.
- Makes it easy to see customized mortgage rates.
- Average interest rates are on the low end compared to other lenders, according to the latest federal data.
- Doesn’t offer USDA loans.
- VA loans are not available in every state.
- Doesn't offer home equity loans.
- Offers multiple low-down-payment loan programs.
- May consider alternative credit data, such as bank statements.
- You can view customized rates for purchasing a home and apply online.
- Doesn't offer home equity lines of credit.
- Lender fees are on the high side, according to the latest federal data.
- Offers a wide range of loan types and products, including FHA, VA and USDA.
- Borrowers can apply and track loan status online.
- Offers customized online rate quotes with monthly payment estimates, including mortgage insurance, when applicable.
- Home equity loans are geographically limited.
- Origination fees are on the high side compared with other lenders, according to the latest federal data.
- Low- or no-down-payment options with no mortgage insurance.
- Offers a home equity line of credit, or HELOC.
- Mortgages are available for non-warrantable condominiums.
- Doesn't offer government-backed mortgages, like FHA or VA loans.
- Mortgage origination fees are on the high side, according to the latest federal data.
- Offers a variety of purchase and refinance loans, including jumbo mortgages.
- Has a preferred real estate agent program that can save a borrower money on closing costs.
- Offers some flexibility on guidelines for loan qualification.
- Does not offer VA or USDA loans.
- Products available only to California residents.
San Diego County Credit Union: NMLS#580585
5%
Regional
- Offers purchase, refinance and jumbo mortgages, plus loans for second homes and home equity products.
- Provides customized rate and fee quotes without requiring contact information.
- No FHA, VA or USDA mortgages.
- Loans are available only in California.
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 June 1, 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.
NerdWallet's Best Online Mortgage Lenders of June 2023
- Guaranteed Rate: Best for variety of loan types
- NBKC: Best for overall mortgage experience
- Pennymac: Best for FHA loans
- PNC: Best for traditional lending experience
- New American Funding: Best for FHA loans
- Ally Bank: Best for low interest rates
- Better: Best for refinancing
- Carrington: Best for borrowers with weaker credit
- Flagstar: Best for variety of loan types
- Alliant: Best for low down payment options
- Golden 1 Credit Union: Best for California residents
- San Diego County Credit Union: Best for credit union lending
Frequently asked questions
- How do I find online mortgage lenders?
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.
- What types of online mortgages can I get?
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.
- How do I choose an online lender?
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.
- Can I get an online mortgage loan with bad credit?
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.
