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10 Best San Antonio Mortgage Lenders of 2020

NerdWalletJanuary 2, 2020

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

Whether buying a home inside or outside of Loop 410, you want a mortgage lender that performs like the Spurs — gets the job done well with a minimum of fuss.

NerdWallet researched mortgage companies in San Antonio and identified some of the best in important categories. Our national and regional picks are a good place to start as you shop for a mortgage.

These national companies do a lot of business in San Antonio and are among NerdWallet’s top-rated mortgage lenders.

Summary of Best San Antonio Mortgage Lenders of 2020

LenderNerdWallet Rating National / RegionalMinimum Down PaymentLearn More

Navy Federal: NMLS#399807

Best for veterans

National

0%

Read review

USAA: NMLS#8722

Best for veterans

N/A

3%

Read review

Caliber: NMLS#15622

Best for FHA loans

National

3%

Read review

loanDepot: NMLS#174457

at loanDepot

Best for FHA loans

National

3.5%

at loanDepot

Rocket Mortgage: NMLS#3030

at Rocket Mortgage

Best for online convenience

National

3%

at Rocket Mortgage

Fairway Independent Mortgage: NMLS#2289

at Fairway

Best for online convenience

National

3%

at Fairway

PrimeLending: NMLS#13649

Best for first-time home buyers

National

3%

Read review

Flagstar: NMLS#417490

Best for first-time home buyers

National

3%

Read review

Chase: NMLS#399798

Best for conventional & jumbo loans

National

3%

Read review

Bank of America: NMLS#399802

Best for conventional & jumbo loans

National

3%

Read review

Navy Federal: NMLS#399807

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National / Regional

National

Min. Down Payment

0%


Why we like it

Ideal for military members and their families. Navy Federal Credit Union offers a wide range of mortgage products, an online application and considers alternative credit data for certain loan types.

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.

  • Online application for preapproval with quick decision.

Cons

  • Website does not provide customized mortgage rates based on credit score or other factors before you apply.

Read Full Review

USAA: NMLS#8722

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for military members and their relatives who are interested in a VA loan.

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

Caliber: NMLS#15622

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for: first-time home buyers, veterans and those who may have credit challenges to overcome.

Pros

  • Offers extensive educational resources for military borrowers.

  • Provides digital tools for a streamlined application process.

  • Participates in some state down payment assistance and first-time homebuyer programs.

Cons

  • No mortgage rates displayed online.

  • Doesn't offer home equity loans or lines of credit.

Read Full Review
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at loanDepot

loanDepot: NMLS#174457

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Min. Credit Score

620

Min. Down Payment

3.5%

at loanDepot


Why we like it

Ideal for borrowers looking to get a mortgage with help from a loan officer. Digital back-office operations are said to add efficiency to the loan process.

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
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at Rocket Mortgage

Rocket Mortgage: NMLS#3030

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Min. Credit Score

620

Min. Down Payment

3%

at Rocket Mortgage


Why we like it

Ideal for anyone who appreciates smartphone app service, support and time savings. Rocket Mortgage offers a fully digital home loan experience with a large variety of mortgage products.

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
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at Fairway

Fairway Independent Mortgage: NMLS#2289

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Min. Credit Score

620

Min. Down Payment

3%

at Fairway


Why we like it

Ideal for borrowers who want lots of options and a quick turn time. Fairway Independent Mortgage offers a full selection of home loans along with a comprehensive mobile app for a fast and easy application process.

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

PrimeLending: NMLS#13649

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for: borrowers looking for closing cost assistance, as well as those seeking to renovate or to build a new home.

Pros

  • Full online application includes document uploads and automated loan updates.

  • Offers a "float-down" interest rate lock.

  • Offers a proprietary closing-cost assistance program.

Cons

  • No online mortgage rates — you have to contact the lender for info.

  • Doesn't offer home equity products.

Read Full Review

Flagstar: NMLS#417490

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for borrowers who want a wide range of choices — not only among mortgage products, but also in the channel they prefer, whether a branch, online or on the phone.

Pros

  • Offers a wide range of loan types and products, including FHA, VA and USDA.

  • Has a full suite of online conveniences.

  • Does well with rate transparency, and monthly payment estimates add mortgage insurance, when applicable.

Cons

  • Doesn’t offer renovation loans at this time.

  • Home equity lending is geographically limited.

Read Full Review

Chase: NMLS#399798

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for first-time home buyers who want to talk to a loan officer in person or on the phone, and for homeowners who want to refinance their mortgages in 60 days or less. Chase offers a full line of mortgage products and account management tools.

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

Bank of America: NMLS#399802

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers who prefer a traditional bank. Bank of America offers a wide array of mortgages and online account management tools. It also has first-time home buyer loans with low down payments and no mandatory mortgage insurance.

Pros

  • Allows borrowers to apply entirely online.

  • Offers down payment and closing cost assistance programs.

  • May give existing customers a discount on mortgage lender origination fees.

Cons

  • Does not offer renovation loans.

Read Full Review

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.

  • 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.

  • 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.

  • 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.

  • 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.

More from NerdWallet

Last updated on January 2, 2020

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 2020