Best of
Best Seattle Mortgage Lenders of 2019
NerdWalletJuly 2, 2019
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Looking for a Seattle mortgage lender? We researched Seattle's best mortgage companies so you can compare loan options, mortgage rates and more.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for first-time home buyers, veterans and those who may have credit challenges to overcome.
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.
at Quicken Loans
at Quicken Loans
Min. Credit Score
620
Min. Down Payment
3%
Ideal choice for convenience and quick-response customer service. Quicken Loans provides just about all the services your neighborhood lender does — with online convenience.
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%.
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.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers with a relatively high credit score who may need down payment assistance or help from a state housing agency.
Pros
- Works with loan programs offered by state and local housing agencies.
- Specializes in mortgages for first-time home buyers.
- Almost half of its loans are low-down-payment government mortgages.
- Considers alternative credit, such as history of payments on rent and utilities.
Cons
- With a concentration of offices in the West and South, Guild has little presence in the Northeast and Midwest.
- Jumbo borrowers may find that banks are more competitive when it comes to large loan amounts.
Min. Credit Score
620
Min. Down Payment
3%
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.
- 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.
National / Regional
National
Min. Down Payment
3%
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.
at Chase
at Chase
Min. Credit Score
620
Min. Down Payment
3%
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.
at loanDepot
at loanDepot
Min. Credit Score
620
Min. Down Payment
3.5%
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.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for those who appreciate the full-service experience of a leading regional bank. Flagstar offers a full menu of fixed and adjustable home loans and mortgage refinancing, as well as jumbo loans and home equity financing.
Pros
- Embraces FHA-backed home loans.
- Offers three construction loans.
- 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.
National / Regional
National
Min. Down Payment
0%
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.
- 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.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers looking for help with closing costs: PrimeLending's proprietary program, NeighborhoodEdge, helps qualified low- to moderate-income borrowers with up to $2,000 in closing cost credits (certain restrictions are based on income and location).
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.
Summary of Best Seattle Mortgage Lenders of 2019
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
 Caliber | first-time home buyers | 620 | 3% | Read review |
Quicken Loans at Quicken Loans | quick-response customer service | 620 | 3% | at Quicken Loans |
 Guild Mortgage | down payment assistance | 620 | 3% | Read review |
 Bank of America | jumbo loans | 620 | 3% | Read review |
 Fairway | mobile app experience | N/A | 3% | Read review |
Chase at Chase | conventional loans | 620 | 3% | at Chase |
loanDepot at loanDepot | strong customer service | 620 | 3.5% | at loanDepot |
 Flagstar | renovation and construction loans | 620 | 3% | Read review |
 Navy Federal | military members and their families | N/A | 0% | Read review |
 PrimeLending | borrowers with past credit issues | 620 | 3% | Read review |
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Caliber | first-time home buyers | 620 | 3% | Read review |
Quicken Loans at Quicken Loans | quick-response customer service | 620 | 3% | at Quicken Loans |
Guild Mortgage | down payment assistance | 620 | 3% | Read review |
Bank of America | jumbo loans | 620 | 3% | Read review |
Fairway | mobile app experience | N/A | 3% | Read review |
Chase at Chase | conventional loans | 620 | 3% | at Chase |
loanDepot at loanDepot | strong customer service | 620 | 3.5% | at loanDepot |
Flagstar | renovation and construction loans | 620 | 3% | Read review |
Navy Federal | military members and their families | N/A | 0% | Read review |
PrimeLending | borrowers with past credit issues | 620 | 3% | Read review |
» MORE: See more Washington mortgage lenders
Local mortgage lenders in Seattle
While these lenders have not been reviewed by NerdWallet, they do a lot of lending in Seattle and are popular with the city’s mortgage shoppers. Check them out if you want to include a local company or two on your list.
Homestreet Bank
- Participates in down payment assistance programs.
- Offers special loans for medical professionals and borrowers with unique income streams.
- Provides mortgage lending customer service only Monday through Friday.
- Has over a dozen home loan centers in and around Seattle.
Boeing Employees Credit Union (BECU)
- Offers membership to anyone who lives or works in Washington state.
- Does not charge origination fees on conventional mortgage loans.
- Works with third-party companies to provide rebates on real estate agent commissions.
- Over a dozen branch locations in and around Seattle.
Evergreen HOME LOANS
- An independent mortgage company headquartered in Bellevue, Washington
- Has a program that reimburses the down payment amount if the property is sold at loss in the future.
- Offers a guarantee that pays a seller $2,500 if a borrower makes an offer and the loan then falls through.
- Has only one branch location in Seattle.
First Tech Federal Credit Union
- Primarily serves high-tech or telecom company employees and their families.
- Doesn’t offer FHA, VA or USDA loans.
- Offers a specialized 5/5 adjustable-rate mortgage.
- Has only one branch location in Seattle.
More from NerdWallet
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 Seattle Mortgage Lenders of 2019
- Caliber: Best for first-time home buyers
- Quicken Loans: Best for quick-response customer service
- Guild Mortgage: Best for down payment assistance
- Bank of America: Best for jumbo loans
- Fairway: Best for mobile app experience
- Chase: Best for conventional loans
- loanDepot: Best for strong customer service
- Flagstar: Best for renovation and construction loans
- Navy Federal: Best for military members and their families
- PrimeLending: Best for borrowers with past credit issues
