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. 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.
» MORE: Save faster and confidently for a down payment
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.
Best overall mortgage lenders for first-time home buyers
at Quicken Loans
620
3%
Ideal for first-time homebuyers with questions. Navigating the homebuying process can be a lot easier using Quicken's online application technology. And mortgage advisors are available with a tap.
at Chase
620
3%
Ideal for first-time home buyers, especially those who want to talk to a loan officer face-to-face or over the phone. Chase has branch locations in 22 states.
at New American
620
3%
Offers a number of low down payment options for qualifying borrowers. Ideal for first-time buyers whose credit history doesn't fit into the traditional mold, and who need to have their credit evaluated using nontraditional criteria.
at Vylla
620
3%
Ideal for first-time buyers with lower credit scores. About 95% of the mortgages Vylla makes are FHA, VA or USDA, which each have a low down payment offering. Vylla focuses on helping borrowers with lower credit scores and down payments qualify for a mortgage.
at NerdWallet
National
3%
Ideal for borrowers looking for personal support. CitiMortgage can connect first-time home buyers with government bond and mortgage credit certificate (MCC) programs.
at Bank of America
620
3%
Bank of America provides its own 3% down payment mortgage for first-time home buyers with no mandatory mortgage insurance. It’s a good choice for borrowers who prefer working with a traditional lender.
at Navy Federal
National
0%
Ideal for servicemembers, veterans, DoD civilians and military family members. Navy Federal Credit Union offers several low down payment loans and will consider alternative credit scoring to help first-time home buyers obtain a mortgage.
at SunTrust
620
3%
Ideal for first-time home buyers who need any of a wide range of loan products, including low-down payment FHA, VA and USDA mortgages.
at Flagstar
620
3%
Ideal for first-timers looking for some personal assistance. Flagstar embraces FHA loans, which can help first-time homebuyers with low down payments and relaxed lending standards.
at NerdWallet
Regional
10%
Ideal for first-time buyers, especially those considering a jumbo mortgage. SoFi considers factors beyond FICO sctores to determine an applicant’s overall financial health, such as career prospects, cash flow (income) and history of responsible bill payments.
Best mortgage lenders for first-time home buyers: summary
- Best overall for first-time home buyers: Quicken Loans
- Best for face-to-face service: Chase
- Best for low credit score: New American Funding
- 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
- Best for no credit history: SoFi Mortgage
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 | |
 | 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 | Multiple down payment assistance and grant programs | 620 (conventional) / 580 (VA/FHA) | |
 | Low credit score as first-time homebuyer | Low credit score minimums; down payment assistance programs | 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 | |
 | No credit history as first-time homebuyer | Flexible underwriting model; no lender-imposed fees | N/A |
* 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.
