For first-time home buyers, finding the right mortgage is crucial. It can also be a big challenge.
You want to work with a lender who can give you the best rate, the right term and the lowest closing costs as quickly and efficiently as possible. You may also want a lender who participates in first-time home buyer assistance programs. Finding that lender — the one who will help you close your loan as quickly and efficiently as possible so you can move into your new home — is essential.
NerdWallet has picked some of the best mortgage lenders for first-time home buyers in a variety of categories so you can quickly decide which one is right for you.
NerdWallet’s best lenders for first-time home buyers
at Quicken Loans
620
3%
Ideal choice for convenience and quick-response customer service. Quicken Loans provides just about all the services your neighborhood lender does — with online convenience.
at SoFi
Regional
10%
Ideal for young professionals and self-employed borrowers looking for a lender that considers non-traditional income.
at Chase
620
3%
Ideal for first-time home buyers who want to talk to a loan officer in person or on the phone, and for homeowners who want to refinance their mortgages in 60 days or less. Chase offers a full line of mortgage products and account management tools.
at Vylla
620
3%
Ideal for first-time home buyers or credit-challenged borrowers who may have trouble qualifying for a mortgage.
at New American
620
3%
Ideal for borrowers who need to be evaluated on the basis of nontraditional credit. New American Funding offers FHA and VA loans, works with down payment assistance programs, and seeks borrowers whose credit histories don't fit the mold of traditional banking.
at NerdWallet
National
3%
Ideal for first-time home buyers or those with weaker credit. Citibank Mortgage, a large-scale lender with a full menu of home loan products, offers low down payment options and considers alternative credit data.
at Bank of America
620
3%
Ideal for borrowers who prefer a traditional bank. Bank of America offers a wide array of mortgages and online account management tools. It also has first-time home buyer loans with low down payments and no mandatory mortgage insurance.
at Navy Federal
National
0%
Ideal for military members and their families. Navy Federal Credit Union offers a wide range of mortgage products and low minimum loan amounts, and considers alternative credit data.
620
3%
Ideal for first-time home buyers, including those with little money saved for a down payment. SunTrust's online portal offers information and tools in English and in Spanish.
at Flagstar
620
3%
Ideal for those who appreciate the full-service experience of a leading regional bank. Flagstar offers a full menu of fixed and adjustable home loans and mortgage refinancing, as well as jumbo loans and home equity financing.
Best mortgage lenders for first-time home buyers: summary
- Best overall for first-time home buyers: Quicken Loans
- Best for low credit score: New American Funding
- Best for low down payment for jumbo loan: SoFi Mortgage
- Best for face-to-face service: Chase
- Best for low credit score: Vylla
- Best overall for first-time home buyers: CitiMortgage
- Best for face-to-face service: Bank of America
- Best for no credit history: Navy Federal
- Best for low down payments: SunTrust Mortgage
- Best for low down payments: Flagstar
More from NerdWallet
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Best mortgage lenders for first-time home buyers: review
Lender | Best for | Highlights | Minimum credit score* | Learn more |
|---|---|---|---|---|
 | Overall for first-time homebuyers | Low down payments; top FHA lender | 620 | |
 | Low credit score as first-time homebuyer | Multiple down payment assistance and grant programs | 620 (conventional) / 580 (VA/FHA) | |
 | Low-down-payment jumbo loans | Flexible underwriting model; no lender-imposed fees | N/A | |
 | Face-to-face service for first-time homebuyers | Apply to refinance online, in a branch or by phone | 620 or 580 for FHA | |
 | Low credit score as first-time homebuyer | Considers alternative credit data for some loans | 550, with 500 in some cases | |
 | Overall for first-time homebuyers | Low down payments; many loan types | Varies by loan type | |
 | Face-to-face service for first-time homebuyers | Many ways to apply, with specialists to assist in process | 620 or 600 for FHA | |
 | No credit history as first-time homebuyer | Flexible underwriting model, for armed forces or DoD | No minimum | |
 | Low down payments for first-time homebuyers | Low down payment programs; efficient website | 620 | |
 | Low down payments for first-time homebuyers | Matching to programs for first-time homebuyers and income-limited households | 620 |
* Minimum credit score on top loans; other loan types or factors may selectively influence minimum credit score standards
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.
