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We spent over 400 hours reviewing the top mortgage lenders before selecting the best for our readers. We’ve picked at least two lenders in several "best of" categories to help you find a lender that meets your needs.
If you’re like most home buyers, a down payment is the biggest obstacle between you and homeownership. Finding a lender with zero or low down payment loans could be the difference between buying a home now or having to wait months or years to become a homeowner.
There are a lot of ways to get a mortgage with a low or zero down payment, and there are obvious advantages to putting less money down. But there are disadvantages, too, and it’s important to understand your options before you buy a home.
NerdWallet’s best lenders for zero and low downpayment loans
Ideal for prospective first-time buyers aiming for app-level convenience. With Rocket Mortgage, you'll find out in minutes what your loan terms will be — and be able to adjust the fees and corresponding interest rate.
Ideal for low down borrowers who appreciate face-to-face service. With community-based loan officers in so many parts of the country, Flagstar reps are familiar with low-down-payment state bond programs for first-time home buyers and income-limited households.
Ideal for servicemembers, veterans, DoD civilians and military family members who want options. Navy Federal Credit Union offers not one but three different $0 down payment mortgage options for military and related personnel.
Best zero or low down payment mortgage lenders: Summary
- Best for online experience: Rocket Mortgage
- Best for online experience: Sofi
- Best overall for zero and low down payment home buyers: Quicken Loans
- Best for low credit score or nontraditional credit history: Carrington Mortgage
- Best overall for zero and low down payment home buyers: Flagstar Mortgage
- Best for traditional bank: Bank of America
- Best for traditional bank: PNC Mortgage
- Best for first-time home buyers: SunTrust Mortgage
- Best for first-time home buyers: CitiMortgage
- Best for low credit score or nontraditional credit history: Navy Federal
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