9 Best Virginia Mortgage Lenders of 2021
Looking for a mortgage lender in Virginia? We've researched the state's top lenders, selecting the best in five different categories.
Last updated on January 28, 2021
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Buying a home in Virginia, or refinancing your current mortgage, means shopping for the best mortgage lender you can find. And that can depend on your situation. Some lenders cater to first-time home buyers; others are focused on helping borrowers with bad credit.
NerdWallet has considered leading lenders in Virginia and sorted some of the best we've found according to individual loan needs.
Why trust NerdWallet
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Why trust NerdWallet
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
9 Best Virginia Mortgage Lenders of 2021
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Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | Learn more |
|---|---|---|---|---|
620 | 3% | Learn more at Rate | ||
580 | N/A | Learn more at New American Funding | ||
620 | 1% | Learn more at Rocket Mortgage, LLC | ||
 loanDepot: NMLS#174457 Compare More Lenders on NerdWallet | 520 | 5% | Compare More Lenders on NerdWallet | |
 Navy Federal: NMLS#399807 Compare More Lenders on NerdWallet | N/A | 0% | Compare More Lenders on NerdWallet | |
 SunTrust (Truist): NMLS#2915 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
 Bank of America: NMLS#399802 Compare More Lenders on NerdWallet | 620 | N/A | Compare More Lenders on NerdWallet | |
 BB&T (Truist): NMLS#399803 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
 Carrington: NMLS#2600 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet |
Rate: Best for online lenders
- Why we like itRate boasts a streamlined application process, with full underwriting in as little as one business day, though average fees are higher than many competitors’.Pros
- Fully underwritten mortgage approval in as little as one day for qualified borrowers.
- Generous selection of loans, including government-backed, interest-only, jumbo and renovation.
- Advertises a HELOC that can be funded in as few as five business days.
ConsRead full review- Origination fees are on the high side, according to the latest federal data.
- HELOC requires immediate, full withdrawal of funds.
New American Funding: Best for lower credit
Min. credit score
580
Min. down payment
N/A
Learn more
on New American Funding's website
- Why we like itNew American Funding offers a large menu of loan products, as well as programs like first-time home buyer assistance, but personalized mortgage rates aren't available on its website.Pros
- Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
- Its home equity line of credit can be used for a primary residence or second home.
ConsRead full review- Average origination fees are on the high side, according to the latest federal data.
- Personalized mortgage rates are not available on the website without providing contact information.
Rocket Mortgage, LLC: Best for online lenders
Min. credit score
620
Min. down payment
1%
Learn more
on Rocket Mortgage, LLC's website
- Why we like itRocket Mortgage is the largest mortgage lender by volume, standing out for its range of affordable borrowing options, down payment assistance and closing cost credits.Pros
- Reported average time to close is 15 days faster than industry average.
- FHA and VA loans make up 40% of Rocket Mortgage’s total loan volume.
- Borrowers can apply via mobile app.
ConsRead full review- Origination fees are on the higher end, according to the latest federal data.
- No construction or renovation loans.
- Physical branches are only available in Detroit, Cleveland, and Phoenix.
loanDepot: Best for refinancing
Min. credit score
520
National / regional
National
Compare More Lenders
on NerdWallet
- Why we like itGood for: borrowers who want an easy online application and a variety of loan types to explore.Pros
- Has branches across the country for customers who prefer face-to-face service.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
- Mortgage interest rates tend to be on the lower end, according to the latest federal data.
ConsRead full review- Mortgage rates aren't available online; you'll need to contact a loan officer.
- Doesn't offer home equity loans or lines of credit.
Navy Federal: Best for first-time home buyers
Min. down payment
0%
National / regional
National
Compare More Lenders
on NerdWallet
- Why we like itNavy Federal is known for VA lending, but it's the flexible VA-like loan options that truly stand out. While you don't have to be a current or former servicemember to take advantage of them, you will need a military connection to join the credit union.Pros
- Offers unique no-down-payment and no mortgage insurance loan options for military and civilian borrowers.
- 24/7 customer service supports borrowers stationed overseas.
- Has both home equity loans and lines of credit.
ConsRead full review- Borrowers must join the credit union before applying for a mortgage.
- Does not offer FHA, renovation or construction loans.
- We sometimes waited longer than 10 minutes before connecting with a customer service representative.
SunTrust (Truist): Best for first-time home buyers
Min. credit score
620
Min. down payment
3%
Compare More Lenders
on NerdWallet
- Why we like itGood for: first-time home buyers, doctors and other borrowers interested in low-down-payment mortgage options.Pros
- Offers a wide variety of loan options, including special programs for doctors.
- Offers a complete suite of online mortgage application tools and loan tracking.
- Sample rates and fees are easy to find on the website.
ConsRead full review- Customized rates aren't available online without starting an application.
- Branches are limited mostly to the Southeast.
Bank of America: Best for refinancing
Min. credit score
620
National / regional
National
Compare More Lenders
on NerdWallet
- Why we like itGood for: first-time home buyers looking for low- or no-down-payment options and homeowners interested in a home equity line of credit.Pros
- Offers down payment and closing cost assistance programs.
- May give existing customers a discount on mortgage lender origination fees and HELOC interest rates.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
ConsRead full review- Doesn't offer renovation loans that roll costs into a mortgage.
BB&T (Truist): Best for face-to-face service
Min. credit score
620
Min. down payment
3%
Compare More Lenders
on NerdWallet
- Why we like itGood for: borrowers in the Southeast who want the option of face-to-face service. BB&T is now part of Truist Financial Corp., which offers a full menu of home loans.Pros
- Offers a variety of home loans, including construction-to-permanent loans, physicians loans and jumbo loans.
- Has a robust online mortgage application.
ConsRead full review- Branches limited to mostly the Southeast region.
- Custom rates are only available if you speak with a representative.
Navy Federal: Best for face-to-face service
Min. down payment
0%
National / regional
National
Compare More Lenders
on NerdWallet
- Why we like itNavy Federal is known for VA lending, but it's the flexible VA-like loan options that truly stand out. While you don't have to be a current or former servicemember to take advantage of them, you will need a military connection to join the credit union.Pros
- Offers unique no-down-payment and no mortgage insurance loan options for military and civilian borrowers.
- 24/7 customer service supports borrowers stationed overseas.
- Has both home equity loans and lines of credit.
ConsRead full review- Borrowers must join the credit union before applying for a mortgage.
- Does not offer FHA, renovation or construction loans.
- We sometimes waited longer than 10 minutes before connecting with a customer service representative.
Carrington: Best for lower credit
Min. credit score
620
Min. down payment
3%
Compare More Lenders
on NerdWallet
- Why we like itCarrington Mortgage offers loans for people who might have trouble qualifying for a mortgage elsewhere, like self-employed borrowers or those with heavy debt. However, its interest rates are on the high side.Pros
- Considers borrowers with bad credit, foreclosure or bankruptcy.
- Accepts self-employed borrowers.
- Mortgage origination fees are on the low side, according to the latest federal data.
ConsRead full review- Interest rates are on the high side, according to the latest federal data.
- Doesn’t post interest rates online.
- No online chat for customer service.
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.
NerdWallet's Best Virginia Mortgage Lenders of 2021
- Rate: Best for online lenders
- New American Funding: Best for lower credit
- Rocket Mortgage, LLC: Best for online lenders
- loanDepot: Best for refinancing
- Navy Federal: Best for first-time home buyers + face-to-face service
- SunTrust (Truist): Best for first-time home buyers
- Bank of America: Best for refinancing
- BB&T (Truist): Best for face-to-face service
- Carrington: Best for lower credit
