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8 Best Washington Mortgage Lenders of 2021

NerdWallet picked some of the best Washington mortgage lenders across five different categories, including loans for first-time home buyers, borrowers with low credit and those looking to refinance.

NerdWallet
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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 Washington Mortgage Lenders

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Lender
NerdWallet Rating
Min. credit score
Min. down payment
Learn more
New American Funding

New American Funding: NMLS#6606

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at New American Funding
at New American Funding
Home loans overall
Best for low credit

580

3%

Learn more
at New American Funding
at New American Funding
Guaranteed Rate

Guaranteed Rate: NMLS#2611

5.0
/5
Home loans overall
Best for online lenders

620

3%

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
Veterans United

Veterans United: NMLS#1907

4.5
/5
VA loans
Best for military borrowers

620

0%

loanDepot

loanDepot: NMLS#174457

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on NerdWallet
4.5
/5
Refinancing
Best for refinancing

620

5%

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on NerdWallet
Citibank

Citibank: NMLS#412915

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on NerdWallet
4.0
/5
Home loans overall
Best for first-time home buyers

N/A

3%

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on NerdWallet
Flagstar

Flagstar: NMLS#417490

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on NerdWallet
5.0
/5
Refinancing
Best for government loans

620

3%

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on NerdWallet
Carrington

Carrington: NMLS#2600

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on NerdWallet
3.5
/5
Home loans overall
Best for low credit

620

5%

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on NerdWallet
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.
Read Full Review
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.
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.
Veterans United

Veterans United: NMLS#1907

Min. credit score

620

Min. down payment

0%

Why We Like ItGood for: veterans, active-duty service members and eligible reservists looking for VA loans.
Pros
  • Offers 24/7 customer service over the phone.
  • Offers a free credit counseling service.
  • Mortgage rates are on the low side, according to the latest federal data.
Cons
  • Parent company’s mortgage rates are on the higher side, according to the latest federal data.
  • Does not offer second mortgage options like home equity loans or HELOCs.
loanDepot
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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.
Citibank
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on NerdWallet
Citibank

Citibank: NMLS#412915

4.0
Home loans overall
NerdWallet rating
National / regional

National

Min. down payment

3%

Why We Like ItGood for: Rates-focused borrowers who are Citi customers, or home buyers seeking down payment assistance.
Pros
  • Average interest rates are among the lowest compared to other lenders’, according to the latest federal data.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
  • Borrowers with existing Citi accounts may receive discounts.
Cons
  • Customized mortgage rates are not available without contacting the lender.
  • HELOCs and home equity loans are not currently available.
  • No live chat feature on the lender’s site.
Flagstar
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on NerdWallet
Flagstar

Flagstar: NMLS#417490

5.0
Min. credit score

620

National / regional

National

Why We Like ItGood for: Borrowers who may benefit from Flagstar’s unique loan options, such as ITIN loans, loans for manufactured homes or physician loans.
Pros
  • Multiple loans for those who are renovating or building a home, including loans with interest-only payments during construction.
  • Offers home equity loans and lines of credit.
  • Offers down payment assistance and loans for underserved borrowers, including ITIN loans and loans with flexible qualifications in certain communities.
  • Interest rates are on the low side relative to other lenders, according to the latest federal data.
  • Borrowers can enter their information (including their desired loan amount, down payment and zip code) into the lender’s Mortgage Quote Comparison tool and receive a customized rate quote.
Cons
  • Home equity loans are not available in all locations served by Flagstar.
  • In 2022, the lender was fined for violating laws regarding properties in flood zones.
Carrington
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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: Best Seattle mortgage lenders

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 Washington Mortgage Lenders of 2021

  • New American Funding: Best for low credit
  • Guaranteed Rate: Best for online lenders
  • Rocket Mortgage, LLC: Best for online lenders
  • Veterans United: Best for military borrowers
  • loanDepot: Best for refinancing
  • Citibank: Best for first-time home buyers
  • Flagstar: Best for government loans
  • Carrington: Best for low credit
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