Best Mortgage Lender for Jumbo Loans
How we picked the lenders to evaluate:
NerdWallet reviewed the majority of the largest U.S. mortgage lenders by annual loan volume (lenders had to have at least a 1% market share). We focused on lenders that offered the following loans: purchase, refinance, jumbo, FHA, VA and/or HELOCs. In addition, we reviewed online lenders and emerging and notable players. We also considered lenders with significant online search volume and those that specialize in serving various audiences across the country. Some of these are companies that NerdWallet partners with, some are not.
How we chose the winner:
We started by pooling all of our reviewed lenders that offer jumbo mortgages. The winner(s) must offer at least four of the following online capabilities: full online application, document upload, loan-process tracking, e-signature and a mobile-responsive website and/or an app with mortgage functionality. The winner(s) also must specialize in jumbo lending, have down payment minimums below 20%, charge low origination fees, offer jumbo loans for various property types, offer cash, bank statement, high-income and/or asset financing, and have a max loan amount that is over $3 million.
How we verified our data:
NerdWallet solicits information from reviewed lenders on a recurring basis throughout the year. All lender-provided information is verified through lender websites and interviews. We also utilized 2018 HMDA data for origination fee and share-of-product data.