Best of

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.

NerdWallet
By
Last updated on January 28, 2021

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.

  • 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.
NerdWallet's mortgage content, including articles, reviews and recommendations, is produced by a team of writers and editors who specialize in home lending. Their work has appeared in The Associated Press, USA Today, The Washington Post, MarketWatch, Newsweek and many other national, regional and local publications. They have been cited in publications including The Wall Street Journal, and appeared on NerdWallet's "Smart Money" podcast as well as local TV and radio.

Best Virginia Mortgage Lenders

Have you or your spouse served in the military?

We’ve got more home loan options for you. Show me

Lender
NerdWallet Rating
Min. credit score
Min. down payment
Learn more
Guaranteed Rate

Guaranteed Rate: NMLS#2611

Learn more
at Guaranteed Rate
at Guaranteed Rate
Home loans overall
Best for online lenders

620

3%

New American Funding

New American Funding: NMLS#6606

Learn more
at New American Funding
at New American Funding
4.0
/5
Home loans overall
Best for lower credit

580

3%

Learn more
at New American Funding
at New American Funding
Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

Learn more
at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
4.0
/5
Home loans overall
Best for online lenders

620

1%

Learn more
at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
loanDepot

loanDepot: NMLS#174457

LEARN MORE
on NerdWallet
4.5
/5
Refinancing
Best for refinancing

620

5%

LEARN MORE
on NerdWallet
Navy Federal

Navy Federal: NMLS#399807

LEARN MORE
on NerdWallet
4.5
/5
Home loans overall
Best for first-time home buyers + face-to-face service

N/A

0%

LEARN MORE
on NerdWallet
SunTrust (Truist)

SunTrust (Truist): NMLS#2915

LEARN MORE
on NerdWallet
4.5
/5
Home loans overall
Best for first-time home buyers

620

3%

LEARN MORE
on NerdWallet
Bank of America

Bank of America: NMLS#399802

LEARN MORE
on NerdWallet
4.5
/5
Refinancing
Best for refinancing

620

N/A

LEARN MORE
on NerdWallet
BB&T (Truist)

BB&T (Truist): NMLS#399803

LEARN MORE
on NerdWallet
4.5
/5
Home loans overall
Best for face-to-face service

620

3%

LEARN MORE
on NerdWallet
Carrington

Carrington: NMLS#2600

LEARN MORE
on NerdWallet
3.5
/5
Home loans overall
Best for lower credit

620

5%

LEARN MORE
on NerdWallet
Guaranteed Rate
Learn more
at Guaranteed Rate
at Guaranteed Rate
Guaranteed Rate

Guaranteed Rate: NMLS#2611

5.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: borrowers seeking a broad menu of loans, including jumbo and interest-only options, renovation loans and government-backed mortgages, as well as home equity lines of credit.
Pros
  • Offers a one-day mortgage approval process.
  • Offers a generous selection of loans, including government-backed, interest-only, ITIN, jumbo and renovation loans.
  • Advertises a HELOC that can be funded in as few as five business days.
Cons
  • Origination fees are higher than average, according to the latest federal data.
  • HELOC has a relatively short draw period, which may not provide flexibility for someone who wants the option of accessing home equity over a longer period.
Read Full Review
New American Funding
Learn more
at New American Funding
at New American Funding
New American Funding

New American Funding: NMLS#6606

4.0
Home loans overall
NerdWallet rating
Min. credit score

580

Min. down payment

3%

Why We Like ItGood for: first-time home buyers, military members and self-employed or underrepresented borrowers.
Pros
  • Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
  • Its home equity line of credit can be used for an owner-occupied or second home.
  • Has a program to enable buyers to make cash offers.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Mortgage origination fees tend to be on the high end.
  • Personalized mortgage rates are not available on the website without providing contact information.
Rocket Mortgage, LLC
Learn more
at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

4.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

1%

Why We Like ItGood for: FHA borrowers and others short on down payment cash, as well as home buyers who value convenience over low fees.
Pros
  • Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.
  • Offers the option to work with loan officers by phone if desired.
  • Largest FHA lender in the nation.
Cons
  • Getting a customized interest rate requires a credit check, which can affect your credit score.
  • Origination fees are on the high side compared with other lenders, according to the latest federal data.
  • Doesn't offer home equity lines of credit.
loanDepot
LEARN MORE
on NerdWallet
loanDepot

loanDepot: NMLS#174457

4.5
Min. credit score

620

National / regional

National

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.
Cons
  • 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
LEARN MORE
on NerdWallet
Navy Federal

Navy Federal: NMLS#399807

4.5
Home loans overall
NerdWallet rating
National / regional

National

Min. down payment

0%

Why We Like ItGood for: Military borrowers who’ve exhausted their VA loan benefits and qualified government employees who want to compare mortgage options without down payments.
Pros
  • Offers unique loan options aimed at military borrowers, such as a proprietary loan called Military Choice that works as an alternative to VA loans.
  • 24/7 customer service supports borrowers stationed overseas.
  • Offers home equity loans and lines of credit.
Cons
  • Borrowers must join the credit union before applying for a mortgage.
  • The lender does not offer renovation or construction loans.
  • When we tried their customer service line, we sometimes waited longer than 10 minutes before being connected with a representative who could answer our questions.
SunTrust (Truist)
LEARN MORE
on NerdWallet
SunTrust (Truist)

SunTrust (Truist): NMLS#2915

4.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

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.
Cons
  • Customized rates aren't available online without starting an application.
  • Branches are limited mostly to the Southeast.
Bank of America
LEARN MORE
on NerdWallet
Bank of America

Bank of America: NMLS#399802

4.5
Min. credit score

620

National / regional

National

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.
Cons
  • Doesn't offer renovation loans that roll costs into a mortgage.
BB&T (Truist)
LEARN MORE
on NerdWallet
BB&T (Truist)

BB&T (Truist): NMLS#399803

4.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

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.
Cons
  • Branches limited to mostly the Southeast region.
  • Custom rates are only available if you speak with a representative.
Navy Federal
LEARN MORE
on NerdWallet
Navy Federal

Navy Federal: NMLS#399807

4.5
Home loans overall
NerdWallet rating
National / regional

National

Min. down payment

0%

Why We Like ItGood for: Military borrowers who’ve exhausted their VA loan benefits and qualified government employees who want to compare mortgage options without down payments.
Pros
  • Offers unique loan options aimed at military borrowers, such as a proprietary loan called Military Choice that works as an alternative to VA loans.
  • 24/7 customer service supports borrowers stationed overseas.
  • Offers home equity loans and lines of credit.
Cons
  • Borrowers must join the credit union before applying for a mortgage.
  • The lender does not offer renovation or construction loans.
  • When we tried their customer service line, we sometimes waited longer than 10 minutes before being connected with a representative who could answer our questions.
Carrington
LEARN MORE
on NerdWallet
Carrington

Carrington: NMLS#2600

3.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

5%

Why We Like ItGood for: credit-challenged borrowers interested in government loan products or borrowers with nontraditional credit histories.
Pros
  • Offers multiple low-down-payment loans.
  • Accepts history of bankruptcy, foreclosure and late payments with flexible loan program.
  • Considers borrowers with low credit scores and high debt-to-income ratios.
Cons
  • Fined $5.25 million for misleading customers about pandemic-era payment relief.
  • Doesn't offer home equity lines of credit.
  • Lender fees are on the high side, according to the latest federal data.

More from NerdWallet
Calculate your Virginia mortgage payment
Compare Virginia mortgage rates
How much home can you afford?

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.

To recap our selections...

NerdWallet's Best Virginia Mortgage Lenders of 2021

  • Guaranteed 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
NerdWallet Pixel