Best of

Best Seattle 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.

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%

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
Quicken Loans

at Quicken Loans

at Quicken Loans

Min. Credit Score

620

Min. Down Payment

3%

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.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

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-amount loans.
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
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
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
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
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
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

  • 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

Summary of Best Seattle Mortgage Lenders of 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Caliber

Caliber

first-time home buyers

620

3%

Read review
Quicken Loans

Quicken Loans

at Quicken Loans

quick-response customer service

620

3%

at Quicken Loans

Guild Mortgage

Guild Mortgage

down payment assistance

620

3%

Read review
Bank of America

Bank of America

jumbo loans

620

3%

Read review
Fairway

Fairway

mobile app experience

N/A

3%

Read review
Chase

Chase

at Chase

conventional loans

620

3%

at Chase

loanDepot

loanDepot

at loanDepot

strong customer service

620

3.5%

at loanDepot

Flagstar

Flagstar

renovation and construction loans

620

3%

Read review
Navy Federal

Navy Federal

military members and their families

N/A

0%

Read review
PrimeLending

PrimeLending

borrowers with past credit issues

620

3%

Read review
LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Caliber

Caliber

first-time home buyers

620

3%

Read review
Quicken Loans

Quicken Loans

at Quicken Loans

quick-response customer service

620

3%

at Quicken Loans

Guild Mortgage

Guild Mortgage

down payment assistance

620

3%

Read review
Bank of America

Bank of America

jumbo loans

620

3%

Read review
Fairway

Fairway

mobile app experience

N/A

3%

Read review
Chase

Chase

at Chase

conventional loans

620

3%

at Chase

loanDepot

loanDepot

at loanDepot

strong customer service

620

3.5%

at loanDepot

Flagstar

Flagstar

renovation and construction loans

620

3%

Read review
Navy Federal

Navy Federal

military members and their families

N/A

0%

Read review
PrimeLending

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