8 Best Texas Mortgage Lenders in 2022
If you’re looking to buy or refinance a home in Texas in 2021, NerdWallet can help you choose from some of the best mortgage lenders in the state.
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.
Texas mortgage lenders vary by the types of home loans they offer, their credit score and other requirements for borrowers, and how they serve customers. Shopping around is important to find a lender that offers the services and products you need at the lowest rates. To help you find the best mortgage lender in Texas for your situation, NerdWallet has reviewed and picked some of the best lenders in a variety of categories.
- 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.
- 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.
Best Texas Mortgage Lenders in 2022
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Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | Learn more |
|---|---|---|---|---|
620 | 3% | Top 3 most visited 🏆 Learn more at Guaranteed Rate | ||
620 | 1% | Learn more at Rocket Mortgage, LLC | ||
 PrimeLending: NMLS#13649 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
 Alterra: NMLS#133739 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
 Carrington: NMLS#2600 LEARN MORE on NerdWallet | 620 | 5% | LEARN MORE on NerdWallet | |
 Wells Fargo: NMLS#399801 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
 Bank of America: NMLS#399802 LEARN MORE on NerdWallet | 660 | 5% | LEARN MORE on NerdWallet | |
 Chase: NMLS#399798 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet |
Guaranteed Rate: NMLS#2611
620
3%
- 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.
- 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.
Rocket Mortgage, LLC: NMLS#3030
620
1%
- 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.
- 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.
PrimeLending: NMLS#13649
620
3%
- Offers a broad selection of renovation loans to finance cosmetic upgrades or structural repairs.
- Issues loan approval letters within 24 hours to borrowers who qualify.
- Offers resources to connect eligible borrowers with closing cost and down payment assistance programs.
- No online mortgage rates — you have to contact the lender for information.
- Rates and fees are on the high side, according to the latest federal data.
- Doesn't offer home equity loans or lines of credit.
- Offers government loans, down payment assistance loans and ITIN loans, among other options.
- Has branch locations across the country for borrowers who prefer an in-person experience.
- Site has a live chat feature.
- Mortgage rates and origination fees are higher than the majority of lenders.
- Borrowers must contact the lender for specific information about their loan offerings and interest rates.
- Does not offer home equity products or adjustable-rate mortgages.
- 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.
- 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.
Wells Fargo: NMLS#399801
620
3%
- Sample rates clearly posted for various loan products.
- Offers a wide variety of loan types and products, including options for borrowers who work for themselves and those without Social Security numbers.
- Mortgage rates tend to be on the low side compared with other lenders, according to the latest federal data.
- Home loans business is broadly focused on bank customers.
- Doesn’t offer home improvement loans, or home equity loans or lines of credit.
- Scandals and government actions have damaged consumer trust in recent years.
Bank of America: NMLS#399802
660
5%
National
- 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.
- Doesn't offer renovation or construction-to-permanent mortgage loans.
- Must enroll in online banking to access Home Loan Navigator.
- Fined $12 million for reporting inaccurate mortgage applicant info to the federal government.
- Carries a wide variety of mortgage types and products, including mortgages with down payments as low as 3%.
- Offers low rates compared with other lenders, according to the latest federal data.
- Offers a customizable mortgage calculator for personalized rate and payment estimates.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
- Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.
- You have to speak with a home loan adviser to complete the application.
- Home equity lines of credit (HELOC) are currently unavailable.
Best Texas mortgage lenders by city
We dug even deeper to find great lenders in major Texas cities. See our picks for best mortgage lenders in your area.
More from NerdWallet
Last updated on January 6, 2022
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 Texas Mortgage Lenders in 2022
- Guaranteed Rate: Best for online experience
- Rocket Mortgage, LLC: Best for first-time home buyers and online experience
- PrimeLending: Best for first-time home buyers
- Alterra: Best for bad credit
- Carrington: Best for bad credit
- Wells Fargo: Best for face-to-face service
- Bank of America: Best for face-to-face service
- Chase: Best for refinancing
Frequently asked questions
- Which Texas mortgage lender is best?
The best lender depends on your needs. Lenders vary by their borrower qualification requirements as well as the types of home loans they offer. Some lenders offer face-to-face service while others provide a completely online application experience. To find the best Texas mortgage lender, look for companies that offer the type of loan and services you need, and compare their rates and fees.
- Is it better to get a mortgage from a bank or from a mortgage company?
One isn't necessarily better than another, so don't confine your search to one type of lender. Consider banks, credit unions and mortgage companies that offer the products and services you need, and then compare rates to find the best lender.
- How do I get down payment or closing cost assistance?
The Texas Department of Housing and Community Affairs, or TDHCA, offers programs that provide down payment and closing cost assistance. To qualify for one of these Texas home buyer programs, you'll need to work with a TDHCA-approved lender.
- Which lender offers the lowest home loan rates?
Mortgage rates fluctuate day by day, and vary by lender. Rates also vary according to other factors, including the size of your loan and down payment, credit score and debt-to-income ratio. Keep in mind that the rate you're offered may differ from the average rates a lender posts on its website.
