For home buyers with strong credit, solid income and at least a 3% down payment, a conventional mortgage may be the perfect fit. But which lender should you choose?
NerdWallet has picked some of the best conventional mortgage lenders in a variety of categories so you can quickly decide which one is right for you.
» MORE: Conventional mortgage FAQs
Best conventional mortgage lenders for first-time home buyers
These lenders offer conventional loans with low down payments and flexible credit requirements.
- The largest FHA lender in the nation.
- Has a full complement of mortgage products for buying and refinancing.
- Offers a technology-friendly loan process with access to mortgage advisors.
- Quicken Loans review
- Offers a full line of purchase mortgages, including FHA and VA loans.
- Has low-down payment-options that don’t require private mortgage insurance.
- Available in all 50 states.
- CitiMortgage review
Best conventional mortgage lenders for a refinance
You’ll have multiple options for refinancing into a conventional loan with these lenders.
- Offers refinance mortgages with no origination fees or broker commissions.
- Minimum 620 credit score qualification.
- Automated suggestion engine will determine if there are steps you can take to lower your rate.
- Lenda review
- Offers customers a variety of refinance options.
- Provides fixed, adjustable, jumbo, FHA, VA and Home Affordable Refinance Program loans.
- You can apply online, in a branch or by phone.
- Chase Mortgage review
Best online conventional mortgage lenders
Enjoy a fast, convenient and fully automated mortgage process with these lenders.
- The biggest online mortgage lender in the U.S.
- Fully automated process that imports employment and income data, credit scores, property information and more.
- Provides a loan decision in minutes.
- Rocket Mortgage review
- Has hundreds of high marks and positive reviews on sites such as the Better Business Bureau and Yelp.
- Boasts a more than 95% customer satisfaction rate.
- Provides a completely digital mortgage platform for both refinance and purchase customers.
- Guaranteed Rate review
Best conventional mortgage lenders for borrowers with weak credit
These lenders specialize in loans for those with low credit scores or nontraditional credit histories.
- Uses manual underwriting to evaluate borrowers, which allows more flexibility to approve loans.
- Offers a broad range of loans, including FHA, fixed-rate and adjustable-rate mortgages; minimum score 580.
- Offers multiple down payment assistance and grant programs.
- New American Funding review
- Specializes in loans to borrowers with lower credit scores; minimum score 550 in some cases.
- Offers down payment assistance programs through housing authorities in some states.
- Requires online education course for borrowers.
- Carrington Mortgage review
Best conventional mortgage lenders for face-to-face service
Want a human to answer questions and provide updates? Try these lenders.
- One of the largest banks in the world with thousands of branches across the U.S.
- Offers a range of products, including fixed, adjustable, jumbo, FHA and VA loans.
- Create an account to upload documents, download loan disclosures, e-sign and more.
- Bank of America review
- Offers full line of purchase mortgages, including FHA and VA loans.
- Has low-down-payment options that don’t require private mortgage insurance.
- Has nearly 700 branches across all 50 states.
- CitiMortgage review
Best conventional mortgage lenders: summary
- Quicken Loans: First-time home buyers
- CitiMortgage: First-time home buyers
- Lenda: Refinancing
- Chase: Refinancing
- Rocket Mortgage: Online experience
- Guaranteed Rate: Online experience
- New American Funding: Lower credit score
- Carrington Mortgage: Lower credit score
- Bank of America: Face-to-face service
- CitiMortgage: Face-to-face service
Conventional mortgage FAQs
» MORE: Get your credit score for free
» MORE: FHA vs. conventional home loans
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.
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