Best of

Best San Antonio Mortgage Lenders of 2019

NerdWalletJuly 2, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

NerdWallet scanned San Antonio mortgage lenders to recommend some of the best in important categories.

National / Regional

National

Min. Down Payment

0%

Pros

  • Wide range of affordable mortgage products designed for military members.
  • Willing to look at nontraditional credit data, such as rent payments, as part of its credit evaluation for certain products.
  • Lower minimum loan amounts than many other lenders.
  • Online application for preapproval with quick decision.
  • $1,000 mortgage rate match program.
  • Operates nationwide.

Cons

  • Charges application and underwriting fees.
  • Origination charge on a typical conventional loan is 1% of the loan amount.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • VA loans are the bulk of USAA’s business, so it knows the ins and outs of eligibility.
  • Lots of experience assisting first-time home buyers.
  • Offers online pre-qualification.

Cons

  • Doesn’t offer FHA or USDA loans.
  • Alternative credit is not considered.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Participates in some down payment assistance programs.
  • Offers educational resources for military borrowers.
  • Provides digital tools for a streamlined application process.

Cons

  • No mortgage rates displayed online.
  • Must work with a loan officer for pre-qualification and preapproval.
Read full review
loanDepot

at loanDepot

at loanDepot

Min. Credit Score

620

Min. Down Payment

3.5%

Pros

  • Offers digital income, asset and employment verification.
  • Has over 150 affiliated loan stores nationwide for customers who prefer face-to-face service.
  • One of the nation’s most active lenders of FHA and VA loans.

Cons

  • Published mortgage rates include up to three points of prepaid interest and fees.
  • Does not offer home equity loans or lines of credit.
Read full review
Rocket Mortgage

at Rocket Mortgage

at Rocket Mortgage

Min. Credit Score

620

Min. Down Payment

3%

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.

Cons

  • Doesn't offer home equity loans or HELOCs.
  • If you’re a “look me in the eye” type of customer, you’re out of luck.
  • Doesn’t consider alternative credit data. It just looks at credit scores and debt-to-income ratios, the way most mortgage lenders always have.
Read full review
National / Regional

National

Min. Down Payment

3%

Pros

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

Cons

  • Limited branch locations.
  • Mortgage rates not posted on website.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Low rate of consumer complaints filed with the Consumer Financial Protection Bureau.
  • Request a pre-qualification through PrimeLending’s secure system from a phone, tablet or computer.
  • Niche mortgage products include energy-efficient mortgages, FHA 203(k) renovation and remodeling loans, manufactured home mortgages and home construction loans.
  • Free “float down” interest rate option lets borrowers choose the lower rate if interest rates fall, even with a rate lock.
  • NeighborhoodEdge closing cost assistance program for low- to moderate-income borrowers allows qualified borrowers $2,000 in closing cost credits (restrictions on income and location).
  • “Alternative doc” program lets borrowers qualify for mortgage based on bank statements rather than tax returns.

Cons

  • No live chat online.
  • No online mortgage rate quotes.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Embraces FHA-backed home loans.
  • Offers three construction loan offerings.
  • A professional loan package is tailored for the needs of doctors, lawyers, architects and certified public accountants.
  • Flagstar reps are familiar with low-down-payment state bond programs for first-time home buyers and income-limited households, as well as the areas that qualify for USDA loans.
  • Offers home equity loans and home equity lines of credit.

Cons

  • Charges an average $1,000 origination fee.
Read full review
Chase

at Chase

at Chase

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Allows electronic submission and tracking of documents.
  • Existing Chase customers can get discounts.
  • Offers a wide selection of purchase and refinance mortgages.

Cons

  • Charges rate lock, origination and underwriting fees.
  • You have to speak with a mortgage banker to get complete info on products and requirements.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

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.

Cons

  • Charges an application fee of $1,170, on average.
  • Has a high volume of consumer complaints, even for a big national bank.
Read full review

Summary of Best San Antonio Mortgage Lenders of 2019

LenderBest ForNational/RegionalMinimum Down PaymentLearn More
Navy Federal

Navy Federal

veterans

National

0%

Read review
USAA

USAA

veterans

N/A

3%

Read review
Caliber

Caliber

FHA loans

National

3%

Read review
loanDepot

loanDepot

at loanDepot

FHA loans

National

3.5%

at loanDepot

Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online convenience

National

3%

at Rocket Mortgage

Fairway

Fairway

online convenience

National

3%

Read review
PrimeLending

PrimeLending

first-time home buyers

National

3%

Read review
Flagstar

Flagstar

first-time home buyers

National

3%

Read review
Chase

Chase

at Chase

conventional & jumbo loans

National

3%

at Chase

Bank of America

Bank of America

conventional & jumbo loans

National

3%

Read review
LenderBest ForNational/RegionalMinimum Down PaymentLearn More
Navy Federal

Navy Federal

veterans

National

0%

Read review
USAA

USAA

veterans

N/A

3%

Read review
Caliber

Caliber

FHA loans

National

3%

Read review
loanDepot

loanDepot

at loanDepot

FHA loans

National

3.5%

at loanDepot

Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online convenience

National

3%

at Rocket Mortgage

Fairway

Fairway

online convenience

National

3%

Read review
PrimeLending

PrimeLending

first-time home buyers

National

3%

Read review
Flagstar

Flagstar

first-time home buyers

National

3%

Read review
Chase

Chase

at Chase

conventional & jumbo loans

National

3%

at Chase

Bank of America

Bank of America

conventional & jumbo loans

National

3%

Read review

» MORE: See the best Texas mortgage lenders

Local and regional mortgage lenders in San Antonio

The following mortgage companies are among the top lenders by loan volume in San Antonio, so they’re worth checking out if you’re looking for more options. NerdWallet has not reviewed these lenders.

AMCAP Mortgage

  • Offers options for low-down-payment borrowers.
  • One of the highest-volume FHA lenders in the area.
  • Offers combined purchase and renovation home loans.
  • Offers online pre-qualification.

Cornerstone Home Lending

  • More than half of its lending volume is in FHA and VA loans.
  • Has a full menu of conventional loan options, too, including jumbo loans.
  • Offers online pre-qualification.

Legacy Mutual Mortgage

  • Good for borrowers who want a homegrown lender based in San Antonio.
  • Offers a full menu of conventional and government-backed loans.
  • Makes Spanish-language versions of forms available online for borrowers to reference.
  • Has an online application process.

Security Service Federal Credit Union

  • Offers home equity loans and lines of credit.
  • Offers lot, land and construction loans.
  • Allows certain borrowers to save up to $5,000 on select closing costs for conventional loans.

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Last updated on July 2, 2019

Methodology

NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best San Antonio Mortgage Lenders of 2019