13 Best Lenders for Low- and No-Down-Payment Mortgages in 2025

Rocket Mortgage is the Goliath of home loans in the U.S. It's the largest mortgage lender by volume, and keeps expanding its reach. Fortunately for borrowers, Rocket is a gentle giant, offering affordable borrowing options including a 1% down payment loan.

NBKC stands out for its attractive interest rates and fees, and is primarily an online lender — though its app does not have mortgage features and chat support is not geared toward mortgage borrowers.

Rate boasts a streamlined application process, with full underwriting in as little as one business day — though for all its online conveniences, you'll still work with a human.

First Federal Bank is a big FHA lender by loan volume. It stands out for low average FHA rates and its emphasis on government loans.

Veterans United is the largest VA loan originator in the country by far, according to the latest federal data.

In addition to conventional and government-backed loans, Northpointe Bank’s mortgage portfolio includes rarer offerings like doctor loans, condo loans, investment property loans and loans for borrowers with credit challenges. However, average origination fees tend to be comparatively high.

PNC Bank has solid options for budgets large and small. Though average interest rates are on the high side, its wide selection of loans (even for lower credit scores) could be a good pick for first-time home buyers seeking a streamlined digital experience.

Flagstar Bank stands out for having a wide variety of home loan options, including harder-to-find products. But take note that Flagstar has reduced its mortgage business as part of corporate restructuring. Executives have indicated that the lender will rebuild its home lending operations by focusing on the needs of banking clients.

Pennymac, known for government loans, has some of the lowest average mortgage rates we’ve seen, though fees run a little high, and HELOCs and renovation loans aren’t available. Best for VA or FHA borrowers looking for low rates and an efficient digital experience.

Network Capital stands out for its focus on refinancing, especially cash-out transactions — only 6% of Network Capital customers got a purchase mortgage last year. Most likely to appeal to borrowers looking to refinance their home loan.

U.S. Bank offers a broad selection of mortgages, including some niche options. Rates and fees are middle of the road, per federal data. The bank offers helpful tech for rate shopping and live chat, though its online application could be smoother.

SoFi offers perks for existing customers, including a discount on closing costs and accessible customer support. The site primarily highlights conventional home loan offerings, so borrowers looking for other loan types may need to reach out directly for more details.

Wells Fargo has significantly shrunk its mortgage business in the past two years, dropping from the third largest mortgage originator in 2023 to the twelfth largest in 2024. It was still the fourth largest jumbo loan originator in the country last year.