BEST OF
10 Best Washington Mortgage Lenders of 2021
NerdWallet picked some of the best Washington mortgage lenders across five different categories, including loans for first-time home buyers, borrowers with low credit and those looking to refinance.
If you’re looking for the best mortgage lenders in Washington, we’ve done the research. NerdWallet compared the state’s leading lenders, then identified the best ones for a variety of specific loan needs.
Whether you’re shopping for a condo in Seattle, a classic ranch in Spokane or a cash-out refinance in Yakima, these lenders are a solid place to start shopping.
If you’re looking for the best mortgage lenders in Washington, we’ve done the research. NerdWallet compared the state’s leading lenders, then identified the best ones for a variety of specific loan needs.
Whether you’re shopping for a condo in Seattle, a classic ranch in Spokane or a cash-out refinance in Yakima, these lenders are a solid place to start shopping.
Summary of Best Washington Mortgage Lenders of 2021
| Lender | NerdWallet Rating | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Best for first-time home buyers | 620 | 3% | at Quicken Loans | |
Best for first-time home buyers | N/A | 3% | Read review | |
Best for online lenders | 620 | 3% | at Rocket Mortgage by Quicken Loans | |
Best for online lenders | 620 | 3% | at Guaranteed Rate | |
Best for military borrowers | 650 | 0% | at Veterans United | |
Best for government loans | 620 | 3% | Read review | |
Best for refinancing | 620 | 5% | at loanDepot | |
Best for refinancing | 620 | 5% | at Reali Loans | |
Best for low credit | 620 | 3% | at New American Funding | |
Best for low credit | 620 | 3% | Read review |
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 many working Americans.
- Offers custom fixed-rate loan terms that are between eight and 30 years.
- Provides a wide variety of loan types, including renovation loans and all government-backed mortgage products.
Cons
- Quicken Loans doesn't offer home equity loans or HELOCs.
- Quicken's lender fees can be stout and they don't offset those fees with particularly low mortgage rates.
National / Regional
National
Min. Down Payment
3%
Pros
- Offers a wide variety of loan options, including low-down-payment mortgages and jumbo mortgages.
- Provides customizable mortgage rates on its website.
- Offers low rates and fees compared with other lenders.
Cons
- Charges a mortgage application fee.
- Requires help from a mortgage loan officer to complete the loan application online.
at Rocket Mortgage by Quicken Loans
at Rocket Mortgage by Quicken Loans
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.
- Estimates the loan amount you’ll qualify for within minutes.
- Offers document and asset retrieval capabilities.
Cons
- If you’re a “look me in the eye” type of customer, you’re out of luck.
- Getting a customized interest rate requires a credit check, which can lower your credit score by a few points.
at Guaranteed Rate
at Guaranteed Rate
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers the ability to securely upload and digitally sign loan documents.
- Displays detailed sample rates for many of its loan products.
Cons
- Doesn't offer home equity loans or lines of credit.
at Veterans United
at Veterans United
Min. Credit Score
650
Min. Down Payment
0%
Pros
- Offers 24/7 customer service over the phone.
- Has online application and pre-qualification.
- Offers a free credit counseling service.
- Employs advisors from each branch of the armed forces.
Cons
- Doesn’t offer home equity loans or HELOCs.
- Veterans United has physical branch offices in only 18 states.
- Information on FHA, USDA and conventional loans is harder to find on their website.
- Charges higher rates and fees than some other lenders.
Min. Credit Score
620
Min. Down Payment
3%
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
- Home equity lending is geographically limited.
at loanDepot
at loanDepot
Min. Credit Score
620
National / Regional
National
Pros
- Offers digital income, asset and employment verification.
- Offers multiple renovation loan options.
- Has over 200 affiliated loan stores nationwide for customers who prefer face-to-face service.
Cons
- Mortgage rates aren't available online; you'll need to contact a loan officer.
- Does not offer home equity loans or lines of credit.
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at Reali Loans
at Reali Loans
Min. Credit Score
620
National / Regional
Regional
Pros
- Offers a completely online application process.
- Provides customized rate quotes online.
Cons
- No FHA, VA or USDA refinance products.
- Available only in a dozen states.
at New American Funding
at New American Funding
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Uses manual underwriting to evaluate creditworthiness.
- Offers full online mortgage application, rate quotes, document upload and loan tracking.
Cons
- Mortgage rates offered to borrowers are higher than the government-reported median of all lenders.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers multiple low-down-payment loan programs.
- May consider alternative credit data, like bank statements and rent payments.
Cons
- To get sample rates, you'll have to speak with a loan officer.
- Doesn't offer home equity loans or HELOC.
Last updated on January 28, 2021
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
To recap our selections...
NerdWallet's Best Washington Mortgage Lenders of 2021
- Quicken Loans: Best for first-time home buyers
- Citibank: Best for first-time home buyers
- Rocket Mortgage by Quicken Loans: Best for online lenders
- Guaranteed Rate: Best for online lenders
- Veterans United: Best for military borrowers
- Flagstar: Best for government loans
- loanDepot: Best for refinancing
- Reali Loans: Best for refinancing
- New American Funding: Best for low credit
- Carrington: Best for low credit
