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12 Best Conventional Mortgage Lenders of 2026

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Last updated October 20, 2026
For home buyers with strong credit, solid income and at least a 3% down payment, a conventional mortgage may be the perfect fit. Check out NerdWallet’s highest-rated conventional mortgage lenders.
 

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What is a conventional mortgage?

A conventional loan is a type of mortgage that isn’t backed by a government agency, such as the FHA or VA. Most conventional loans must meet loan limits and other requirements set by Fannie Mae, Freddie Mac and the Federal Housing Finance Agency (FHFA). Conventional loans that exceed the conforming loan limits are referred to as jumbo loans.
You'll typically need a credit score of at least 620 to qualify for one, and they can require a down payment as low as 3%. Because nearly every mortgage lender offers conventional loans, they tend to have a lot of flexibility in terms and rates. To get the best conventional mortgage rates, aim to have a credit score of at least 780 and a debt-to-income ratio below 36%.
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Best for Mid-Atlantic borrowers

Andrews Federal Credit Union

NMLS#410421

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on Andrews Federal Credit Union

The Nerdy headline

Andrews Federal Credit Union is on the smaller side, but offers big value through low rates and good customer support. Its online rate quote tool is exceptionally informative. Renovation loans aren’t available.

What we like
  • Offers free, one-time “float down” if mortgage rates drop while your loan is in progress.
  • Online rate tool is exceptionally user-friendly and detailed.
What we don't like
  • No renovation loans.
  • U.S. branches limited to Maryland, Virginia, Washington, D.C. and New Jersey.
Read our full review of Andrews Federal Credit Union

Best for home buying assistance

PNC Bank

NMLS#446303

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on PNC Bank

The Nerdy headline

PNC Bank offers a wide selection of loans and refinance options, with a streamlined digital experience and comprehensive rates tool.

What we like
  • Solid variety of mortgage types, both standard and harder-to-find.
  • Online rate quotes are informative and easy to customize.
  • Offers down payment grants and no-PMI loans for low-income borrowers.
What we don't like
  • Mobile app has limited mortgage features.
  • In-person service not available in all states.
  • Construction loans are only available in AL, AZ, CA, CO, FL, GA, NJ, NM, NC, OH, PA, SC, TN, TX, VA and WA.
Read our full review of PNC Bank

Best for existing Flagstar customers

Flagstar

NMLS#417490

NerdWallet rating

5.0

Home loans overall
Min. credit score

600

Min. down payment

3%

GET MY RATE

Our take on Flagstar

The Nerdy headline

Flagstar Bank stands out for having a wide variety of home loan options, including harder-to-find products. But take note that Flagstar has reduced its mortgage business as part of corporate restructuring. Executives have indicated that the lender will rebuild its home lending operations by focusing on the needs of banking clients.

What we like
  • Offers down payment assistance programs to borrowers in qualifying areas.
  • Reported average time to close is 25 days, faster than the national average.
  • Conventional loan terms extend to 40 years, which is unusually flexible.
What we don't like
  • You can't apply for preapproval or prequalification online.
  • Customer service options are limited.
Read our full review of Flagstar

Best for military borrowers

Navy Federal

NMLS#399807

NerdWallet rating

5.0

Home loans overall
Min. credit score

N/A

Min. down payment

5%

GET MY RATE

Our take on Navy Federal

The Nerdy headline

Navy Federal is known for VA lending, but its flexible VA-like loan options truly stand out. You'll need a military connection to join the credit union.

What we like
  • Offers unique no-down-payment and no-mortgage-insurance loan options for military and civilian members.
  • 24/7 customer service supports borrowers stationed overseas.
  • Has both home equity loans and lines of credit.
What we don't like
  • Borrowers must join the credit union before applying for a mortgage, and all borrowers on the loan must be members for the loan to close.
  • Does not offer FHA, renovation or construction loans.
Read our full review of Navy Federal

Best for North Carolina borrowers

State Employees' Credit Union

NMLS#430055

NerdWallet rating

5.0

Home loans overall
Min. credit score

N/A

Min. down payment

0%

GET MY RATE

Our take on State Employees' Credit Union

The Nerdy headline

State Employees’ Credit Union in North Carolina is worth checking out for those in the Southeast who meet its narrow membership criteria — especially first-time home buyers eligible for generous grants and specialty loans. But it doesn’t offer government-backed mortgages.

What we like
  • Offers a zero-down mortgage without private mortgage insurance.
  • Participates in multiple first-time buyer assistance programs.
  • Low average mortgage rates and fees, according to the latest federal data.
What we don't like
  • Credit union membership eligibility is limited.
  • Loans only available in five states.
  • Doesn’t offer government-backed mortgages.
Read our full review of State Employees' Credit Union

Best for digital application experience

First Federal Bank

NMLS#408902

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on First Federal Bank

The Nerdy headline

First Federal Bank stands out for its competitive APRs and its emphasis on government loans. Most likely to appeal to borrowers shopping for low rates and fees.

What we like
  • Strong experience in FHA and VA lending.
  • APRs tend to be competitive, according to the latest federal data.
  • Minimum credit score requirement of 580 for some loans, which is lower than some competitors.
What we don't like
  • Home equity lending is not a priority.
  • Customizable rates are not available online without providing contact information.
Read our full review of First Federal Bank

Best for overall mortgage experience

Truist

NMLS#399803

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on Truist

The Nerdy headline

If you want a wide range of loan options from a traditional bank, Truist is worth a look. Its streamlined application process and access to human support can make borrowing easier.

What we like
  • Offers a wide range of mortgage options focused on affordability.
  • Convenient online application.
  • Generous grants for qualifying home buyers in select locations.
What we don't like
  • Getting custom rates and applying for mortgage preapproval both require human contact.
  • Customer care leans heavily on phone and in-person service.
  • HELOCs are not available in most states, though home loans are available everywhere in the U.S. except Alaska, Arizona and Hawaii.
Read our full review of Truist

Best for competitive APRs

Alliant

NMLS#197185

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on Alliant

The Nerdy headline

Alliant Credit Union allows you to see a wide range of customized mortgage rates without sharing your contact information, and offers competitive loan products for first-time home buyers.

What we like
  • Offers a competitive combination of low rates and fees.
  • Mortgage borrowers do not need to become members of the credit union until reaching the closing process.
  • Sample rates are displayed upfront, and it's easy to get detailed, personalized rates without providing any personally identifying information.
What we don't like
  • No mobile app available.
  • Doesn't offer energy-efficient mortgage refinances.
Read our full review of Alliant

Best for fast closing time

Chase

NMLS#399798

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on Chase

The Nerdy headline

Chase mortgage has an above-average reputation for consumer satisfaction, and offers a number of programs that can make home buying more affordable and accessible.

What we like
  • Offers a wide range of loan types, including options with low down payment requirements.
  • Home buyer grants up to $5,000 may apply for qualified borrowers.
  • Receives above-average ratings for customer satisfaction, according to J.D. Power and Zillow.
What we don't like
  • Borrowers must create an account or speak with a home loan expert before completing an online application.
  • Parts of the prequal and preapproval process cannot be done solely online.
Read our full review of Chase

Best for home buying assistance

FourLeaf Federal Credit Union

NMLS#449104

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on FourLeaf Federal Credit Union

The Nerdy headline

FourLeaf Credit Union, formerly known as Bethpage, is easy to join: Just deposit $5 in a savings account. Its online rates tool lets you estimate monthly payments, but customization is limited.

What we like
  • Nice selection of specialty mortgages.
  • Well rated mobile app.
What we don't like
  • No renovation or construction loans.
  • Online rate quote is light on detail and doesn’t let you customize.
Read our full review of FourLeaf Federal Credit Union

Best for existing Wells Fargo customers

Wells Fargo

NMLS#399801

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on Wells Fargo

The Nerdy headline

Wells Fargo has significantly shrunk its mortgage business in recent years, but still offers a range of government-backed and speciality loans, as well as assistance for first-time home buyers.

What we like
  • Borrowers can see customized mortgage rate estimates online.
  • Offers relatively low interest rates and fees, according to the latest federal data.
  • Discounts may be available for existing Wells Fargo customers.
What we don't like
  • Does not offer home equity loans or HELOCs.
  • Borrowers need at least $250,000 in assets with the bank to qualify for a rate discount.
  • Prospective borrowers may be put off by the lender’s past legal issues.
Read our full review of Wells Fargo

Best for competitive APRs

Regions Bank

NMLS#174490

NerdWallet rating

5.0

Home loans overall
Min. credit score

620

Min. down payment

3%

GET MY RATE

Our take on Regions Bank

The Nerdy headline

Regions provides all of the standard types of mortgages. This includes conventional and jumbo loans, as well as government-backed FHA, USDA and VA loans. It also offers home equity products and multiple specialty loans, such as low- and no-down-payment options and professional loans.

What we like
  • Offers a wide variety of purchase and refinance loan options, including USDA, construction and physician loans.
  • Features low- to zero-down home loan options, as well as programs to help borrowers with limited credit histories.
  • Provides multiple customer support options, including a dedicated mortgage payment assistance team.
What we don't like
  • Doesn’t publish sample rates online.
  • Operates in only 15 states.
  • Reported closing time is longer compared to other lenders surveyed (40 days on average).
Read our full review of Regions Bank

How we chose the best conventional loan lenders

Our team of mortgage experts follows an objective, consumer-first methodology to assess conventional purchase and refinance loan lenders and pick the best.

40+

Lenders reviewed

We review 40 lenders, including major banks, credit unions, and online lenders operating across multiple states.

11

Categories assessed

Each lender is evaluated across four weighted categories covering rates and fees, types of home loans offered, rate transparency and customer experience.

11,000+11k+

Data points analyzed

Our team tracks and reassesses hundreds of data points annually for reviewed lenders, ensuring up-to-date, accurate comparisons.

Star rating categories

We evaluate the following categories and carefully weigh how each factor impacts your experience.
We review more than 40 lenders and score them using a weighted system that prioritizes affordability and a smooth borrowing experience. Lenders earn higher scores for offering lower borrowing costs, making loans widely available, clearly displaying rate information and supporting borrowers from application through closing.
We use a mix of lender-provided information, publicly available data and our own research and analysis to evaluate each lender. Recent regulatory actions may affect a lender’s score.
Read more about how NerdWallet rates mortgage lenders here.
For inclusion in this roundup, lenders must offer conventional purchase and refinance loans and achieve a high NerdWallet rating for home loans overall.

Mortgage calculator

Estimate your monthly payment

Mortgage inputs
Home price
Down payment
Interest rate
Loan term

Monthly payment: $2,023

Total cost of loan: $728,142

Payoff date: —

Total interest

$408,142

Loan amount

$320,000

Total cost breakdownTotal cost $728,142. Total interest: $408,142. Loan amount: $320,000.
Get my rate

No impact to your credit score

Estimates include principal and interest only and exclude property taxes, homeowners insurance and HOA fees.

A guide to the best conventional mortgage lenders, from the Nerds who chose them

Here’s what makes the best conventional mortgage lenders on this month's list stand out.

Andrews FCU: “Get super-detailed rate and payment info before you apply”

Prepare to be wowed by Andrews FCU’s online rate estimator — you can see monthly payments, loan options and APRs based on your unique situation, all without handing over an email address. Plus, the APRs are lower than average. We were also pleased to see homebuyer grants and assistance programs, as well as a comprehensive mortgage mobile app. The fine print: You need to be a member of Andrews FCU to take advantage of their mortgage product, so it only makes sense if you already bank there, or plan to.

PNC: "If you like getting lost in the details, you’ll like the rates comparison tool"

If you enjoy getting lost in the details, you’ll like PNC’s free rate comparison tool, which lets you see potential monthly costs based on your location and credit score for a range of loan types. While exploring PNC's offerings, we were pleased to find lower-than-average APRs and specialized grants for low-income borrowers. The catch: PNC’s mobile app doesn’t support a full application process (something tech-savvy borrowers may not appreciate).

Flagstar: “Has a groovy 600 minimum credit score for conventional loans”

Flagstar’s 600 minimum credit score for conventional loans is lower than most lenders we review (many put 620 as the minimum). The gift program for first-time home buyers impressed our team, as well as the lower-than-average APRs and speedy 25-day average time to close. If you want face-to-face service, though, you’ll need to live in one of the nine states where Flagstar has physical branches.
While Navy Federal is known for its VA loans (it’s our 2026 award winner for this loan type) the lender also packs a punch when it comes to conventional mortgages. APRs are lower than average and it scores higher than average for loan variety. Plus, its online application process is fully self-service. The saxophones get louder when we see the 5% minimum down payment, though — most lenders have a minimum of 3%.

NC SECU: "Eligible Southeast borrowers get local service with lower-than-average APRs"

Calling all eligible Southeast residents looking for a bargain, NC SECU’s APRs are very competitive. Plus, you can get less common loan types, such as manufactured home loans and vacation home loans. We were also impressed with the selection of first-time home buyer programs for public-sector workers. And if you prefer to do your admin online, NC SECU has you covered — you can complete an application online or via the mobile app. One snag: The 40-day average time to close is a little slow compared to other lenders we reviewed.

First Federal: "Boasts a comprehensive mortgage mobile app and online application process"

We were impressed by First Federal’s comprehensive mortgage mobile app and fully online application process… and the lower-than-average APRs don’t hurt. Looking for less common loans for unique employment and property types? First Federal may just have it. You’ll find USDA, second-home, construction and bank-statement loans offered. The down payment assistance program, however, is only available in Florida.

Truist: "Our 2026 best mortgage lender award winner"

Truist is our 2026 award winner for Best Mortgage Lender — not only does it offer the classics (conventional, jumbo, FHA, VA and home equity products), but it also dishes up rarer varieties like construction-to-permanent and manufactured home loans. We were doubly impressed by the lower-than-average APRs, down payment assistance programs and sample online rates that let you see what you're getting into before you apply. Our one gripe: tech-savvy users may wish for mortgage features on the mobile app and more ways to get in touch — the only way to reach Truist is via phone or in person.

Alliant: "The super-competitive APRs are hard to miss"

If you’re the planner in the friend group, you’ll appreciate Alliant’s detailed rate and payment calculator, which can help you compare your options more accurately. What caught my eye most, though, were Alliant’s super-competitive APRs, speedy closing times and access to a first-time homebuyer program with 0% down and no PMI. Heads up: mobile app users may be left empty-handed — I couldn’t confirm that mortgage features are available.

Chase: "We were swept off our feet by their speedy time to close"

We were swept off our feet by Chase’s speedy 21-day average time to close — roughly half the reported average. Plus, we found Chase offers products to a wider-than-average range of financial situations, has lower-than-average APRs and offers a closing-cost grant for qualifying first-time home buyers. As far as the “womp-womps” go, you won’t find home equity loans on offer here, and prequal and preapproval aren’t available online.

FourLeaf: "Fully online application process impressed our Nerdy team"

Like us, tech-savvy borrowers will appreciate FourLeaf’s fully online application process that takes you from prequal to document uploads (but don’t expect the same options on the mobile app). FourLeaf stood out from the pack for a combination of lower-than-average APRs and a relatively fast average time to close. Plus, it participates in assistance programs for first-time home buyers. On the flip side, detail-oriented borrowers may find the online rate comparison tool lacking — the sample rates are helpful, but you can’t customize them based on your location or credit score, which makes it just a little harder to comparison-shop.

Wells Fargo: "What we like to call an all-rounder"

Wells Fargo is what we like to call an all-rounder — it keeps your budget top of mind (with lower-than-average APRs, down payment assistance and first-time buyer programs), opens the door to a range of financial situations by offering niche products like ITIN loans and mortgages for new construction, and maintains a decent level of transparency (its nifty online rates tool lets you preview monthly payments before you apply). But even the all-rounders have their flaws: Wells Fargo has a slightly lethargic 38-day average time to close. And while the mobile app and website support some application steps, the application isn’t fully online from start to finish.

Regions Bank: "Knocks it out of the park with super-competitive APRs"

Regions Bank knocks it out of the park with super-competitive APRs, and scores an extra home run on accessibility, offering loans to a wider-than-average range of financial profiles. If you want a fast, fully digital experience, though, you may need to look elsewhere because you can’t apply for a mortgage online or via the mobile app, and the average time to close is a plodding 40 days.

Qualifying for a conventional mortgage

Qualifying for a conventional loan is generally harder than qualifying for FHA loans and other government home loans. In addition to a solid income and money for a down payment, you'll likely need a strong credit history.
» MORE: Learn more about different types of mortgage loans
More from NerdWallet

Frequently asked questions

  • How much down payment is needed for a conventional mortgage?

    Some lenders offer conventional mortgages with a down payment of as little as 3%. You’ll typically need to put down at least 20% to avoid private mortgage insurance, however.

  • What credit score is required for a conventional mortgage?

    The credit score needed to buy a house with a conventional loan varies by lender, but 620 is typically the minimum. You’ll need a score of around 740 to get the best rates. For lenders that offer flexibility for lower scores, check out our list of best home loans for bad credit.

  • What's the difference between conventional and FHA mortgages?

    Unlike conventional mortgages, FHA loans are guaranteed by the Federal Housing Administration. FHA mortgages have more relaxed income and credit score requirements than conventional mortgages, but they require at least a 3.5% down payment and mandatory mortgage insurance that can last for the life of the loan. Compare FHA vs. conventional home loans to see which one fits your needs.

  • What should I look for in a conventional mortgage lender?

    The best conventional mortgage lenders offer the right combination of competitive rates, attractive loan terms and low closing costs. Finding a lender that excels at customer service and your preferred style of communication is also essential.