Pros

• Reported average time to close is 15 days faster than industry average.
• FHA and VA loans make up 40% of Rocket Mortgage’s total loan volume.
• Borrowers can apply via mobile app.

Cons

• Origination fees are on the higher end, according to the latest federal data.
• No construction or renovation loans.
• Physical branches are only available in Detroit, Cleveland, and Phoenix.

Pros

• Reported average time to close is 15 days faster than industry average.
• High volume of FHA and VA loans.
• Borrowers can apply via mobile app.

Cons

• Average origination fees are on the higher end, according to the latest federal data.
• Physical branches are only available in Detroit, Cleveland, and Phoenix.

Pros

• Offers up to $17,500 in down payment and closing cost assistance.
• Wide variety of mortgage types.
• Experienced with construction-to-permanent and renovation loans.

Cons

• Assistance programs limited to select cities and states.
• Online rate tool doesn’t customize by credit score.

Pros

• Max borrowing limit is higher than average.
• Minimum credit score requirement is lower than most competitors.
• Repayment period up to 30 years.
• Among the largest HELOC lenders by origination volume.

Cons

• Annual fee of $50.
• Borrowers in California, North Carolina and New York will pay an origination fee.

Pros

• Maximum borrowing limit is higher than industry standard.
• No closing costs or application fees.
• Repayment terms up to 30 years.

Cons

• Minimum loan amount is $35,000.

Pros

• Average jumbo origination fees are on the low side, according to the latest federal data.
• Jumbo loans made up almost 20% of purchase originations in 2023.
• Jumbo financing available for up to $5M.

Cons

• Getting customer service over the phone requires sharing personal data if you don't already have an account.
• In-person service is not available in every state.
• Online rate quotes are only available for loans up to $2.5M.

Pros

• Low average refinance rates and fees, according to the latest federal data.
• High market share of refinance loans.
• Offers discounts to Wells Fargo banking customers with substantial assets.

Cons

• Home loans business is broadly focused on existing bank customers.
• Scandals and government actions have damaged consumer trust in recent years.

Pros

• Best-scoring VA lender for interest rates and fees.
• Offers VA refinancing.
• Specializes in working with military borrowers.

Cons

• Does not offer VA renovation loans.

Pros

• Easy to personalize a quote and apply online.
• Can lock in a rate before you’re under contract, earlier than most lenders.
• Perks include a 1% interest rate buydown and “refinance later” cash bonus.

Cons

• Origination fees are on the higher end, according to the latest federal data.
• Online chat is available only in the logged-in experience.
• No renovation loans.

Pros

• Fully underwritten mortgage approval in as little as one day for qualified borrowers.
• Generous selection of loans, including government-backed, interest-only, jumbo and renovation.
• Advertises a HELOC that can be funded in as few as five business days.

Cons

• Origination fees are on the high side, according to the latest federal data.
• HELOC requires immediate, full withdrawal of funds.