Best of

Best TDHCA 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.

The Texas Department of Housing and Community Affairs, or TDHCA, can help first-time buyers purchase a home. See NerdWallet's picks for participating lenders.

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

  • 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

  • Offers an ITIN qualification path for undocumented immigrant borrowers.
  • Has a digital application process.
  • Offers several mortgage options for low- to moderate-income borrowers.
  • Has a full Spanish-language version of its website and bilingual loan officers.
  • Borrowers can qualify with income from self-employment and other nontraditional sources.

Cons

  • No mortgage rates published online.
  • Doesn't lend in all states.
  • No home equity loans or lines of credit.
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

  • 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

550

Min. Down Payment

3%

Pros

  • A wide variety of loan types.
  • Low credit score requirements for government-backed loans.
  • A wealth of educational material on its website.
  • Licensed in all 50 states.

Cons

  • Mortgage application can't be tracked online.
  • Charges origination fees on some loans.
  • Limited branch locations.
Read full review

Summary of Best TDHCA Mortgage Lenders of 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
loanDepot

loanDepot

at loanDepot

customer service

620

3.5%

at loanDepot

PrimeLending

PrimeLending

customer service

620

3%

Read review
Alterra

Alterra

online experience

620

3%

Read review
Fairway

Fairway

online experience

N/A

3%

Read review
Guild Mortgage

Guild Mortgage

government loans

620

3%

Read review
HomeBridge

HomeBridge

government loans

550

3%

Read review
LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
loanDepot

loanDepot

at loanDepot

customer service

620

3.5%

at loanDepot

PrimeLending

PrimeLending

customer service

620

3%

Read review
Alterra

Alterra

online experience

620

3%

Read review
Fairway

Fairway

online experience

N/A

3%

Read review
Guild Mortgage

Guild Mortgage

government loans

620

3%

Read review
HomeBridge

HomeBridge

government loans

550

3%

Read review

More TDHCA participating mortgage lenders

The following are some of the highest-volume lenders that participate in TDHCA first-time home buyer programs. They have not been reviewed by NerdWallet.

Supreme Lending

  • Website has calculators, answers to FAQs and a mortgage glossary.
  • Offers FHA, VA and USDA loans.
  • National lender headquartered in Texas.

Cornerstone Home Lending

  • More than 25 locations in Texas.
  • Prequalification can be started online.
  • Website includes calculators, FAQs and a mortgage glossary.

AmCap Home Loans

  • Offers FHA, VA and USDA mortgages as well as conventional loans.
  • Lends in over 30 states and headquartered in Texas.
  • Reduced interest rate for disabled veterans under the Texas VLB mortgage program.

Gateway Mortgage Group

  • Outlines the steps to buying a home and offers a homebuying guide.
  • Offers FHA, VA and USDA loans as well as conventional mortgages for first-time home buyers.
  • Website has several loan calculators.

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 TDHCA Mortgage Lenders of 2019