2020's Mortgage
Lender Winners

Whether you're a first-time home buyer or an owner looking to refinance, 2020's best mortgage lenders – some of which are our partners – can help you make the right money move.
Best-Of Awards > Mortgages

Best Mortgage Lender for Refinancing (tie)

Min. Credit Score

620

Min. down payment

3%

Pros

  • Offers a one-day mortgage that lets eligible borrowers apply, lock in a rate and get a loan commitment within 24 hours.
  • Average interest rates are on the low end compared to other lenders, according to the latest federal data.
  • Offers a HELOC that can be used for a primary, second or investment home.

Cons

  • Doesn't offer harder-to-find loans, such as construction loans, renovation loans, or USDA mortgages.
  • Finding descriptions of all of the loan offerings on the website requires some digging, and the lender does not have a mobile app.
  • Average lender fees are on the high end compared with other lenders, according to the latest federal data.
Read full review
Min. Credit Score

620

Min. down payment

3%

Pros

  • Offers a one-day mortgage that lets eligible borrowers apply, lock in a rate and get a loan commitment within 24 hours.
  • Average interest rates are on the low end compared to other lenders, according to the latest federal data.
  • Offers a HELOC that can be used for a primary, second or investment home.

Cons

  • Doesn't offer harder-to-find loans, such as construction loans, renovation loans, or USDA mortgages.
  • Finding descriptions of all of the loan offerings on the website requires some digging, and the lender does not have a mobile app.
  • Average lender fees are on the high end compared with other lenders, according to the latest federal data.
Read full review

Why this LENDER made the list

Better.com offers customized rates for all loan products and a fully digital refinance process, all without charging origination fees.

Read our methodology

Best Mortgage Lender for Refinancing (tie)

Min. Credit Score

620

Min. down payment

3%

Pros

  • Rates and fees have been lower than most lenders, according to the latest federal data.

Cons

  • It’s unclear if the lender is currently processing new loans.
Read full review
Min. Credit Score

620

Min. down payment

3%

Pros

  • Rates and fees have been lower than most lenders, according to the latest federal data.

Cons

  • It’s unclear if the lender is currently processing new loans.
Read full review

Why this LENDER made the list

LenderFi’s website makes it easy to see customized rates and apply for multiple refinance loan products, and it charges low origination fees.

Read our methodology

Best Mortgage Lender for Online Loans (tie)

NBKC

at NBKC

Min. Credit Score

620

Min. down payment

3%

Pros

  • Offers government-backed loans and some harder-to-find products, such as construction loans and specialty mortgages for pilots.
  • Offers low rates and fees compared with other lenders, according to the latest federal data.
  • Displays customized rates, with fee estimates, without requiring contact information.

Cons

  • HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.
Read full review
Min. Credit Score

620

Min. down payment

3%

Pros

  • Offers government-backed loans and some harder-to-find products, such as construction loans and specialty mortgages for pilots.
  • Offers low rates and fees compared with other lenders, according to the latest federal data.
  • Displays customized rates, with fee estimates, without requiring contact information.

Cons

  • HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.
Read full review

Why this LENDER made the list

NBKC Bank combines online preapproval with access to real loan officers, provides customized rate quotes instantly on its website and charges low fees.

Read our methodology

Best Mortgage Lender for Online Loans (tie)

Min. Credit Score

660

Min. down payment

5%

National / regional

National

Pros

  • Offers down payment and closing cost assistance programs.
  • May give existing customers a discount on mortgage lender origination fees and HELOC interest rates.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Doesn't offer renovation or construction-to-permanent mortgage loans.
  • Must enroll in online banking to access Home Loan Navigator.
  • Fined $12 million for reporting inaccurate mortgage applicant info to the federal government.
Read full review
Min. Credit Score

660

Min. down payment

5%

National / regional

National

Pros

  • Offers down payment and closing cost assistance programs.
  • May give existing customers a discount on mortgage lender origination fees and HELOC interest rates.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Doesn't offer renovation or construction-to-permanent mortgage loans.
  • Must enroll in online banking to access Home Loan Navigator.
  • Fined $12 million for reporting inaccurate mortgage applicant info to the federal government.
Read full review

Why this LENDER made the list

Bank of America offers robust digital tools, online preapproval, customized rate quotes and personal assistance via online appointment scheduling.

Read our methodology

Best Mortgage Lender for Jumbo Loans (tie)

Min. Credit Score

620

Min. down payment

3%

Pros

  • Offers several low-down-payment loan options, including FHA, VA, USDA and the PNC Community Loan.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
  • Mortgage rates are lower than the industry average, according to the latest federal data.
  • Jumbo loans available with 5% down payment.

Cons

  • Doesn't offer renovation mortgages or home equity loans.
  • In-person service is not available in every state.
  • You’ll have to create an account or supply personal data to get answers by phone.
Read full review
Min. Credit Score

620

Min. down payment

3%

Pros

  • Offers several low-down-payment loan options, including FHA, VA, USDA and the PNC Community Loan.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
  • Mortgage rates are lower than the industry average, according to the latest federal data.
  • Jumbo loans available with 5% down payment.

Cons

  • Doesn't offer renovation mortgages or home equity loans.
  • In-person service is not available in every state.
  • You’ll have to create an account or supply personal data to get answers by phone.
Read full review

Why this LENDER made the list

PNC offers jumbo financing for a variety of property types, engages in asset-based financing for qualified borrowers and charges low origination fees.

Read our methodology

Best Mortgage Lender for Jumbo Loans (tie)

National / regional

National

Min. down payment

3%

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.
Read full review
National / regional

National

Min. down payment

3%

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.
Read full review

Why this LENDER made the list

Citibank originates a high volume of jumbo loans, allows down payments under 20%, has strong online capabilities and charges low origination fees.

Read our methodology

Best Mortgage Lender for VA Loans (tie)

Veterans United

at Veterans United

Min. Credit Score

620

Min. down payment

0%

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.
Read full review
Min. Credit Score

620

Min. down payment

0%

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.
Read full review

Why this LENDER made the list

Veterans United truly focuses on veterans: VA loans make up nearly 100% of its mortgage business. It also offers a digital application process and low fees.

Read our methodology

Best Mortgage Lender for VA Loans (tie)

National / regional

National

Min. down payment

0%

Pros

  • Offers unique loan options aimed at military borrowers, such as a proprietary loan called Military Choice that works as an alternative to VA loans.
  • 24/7 customer service supports borrowers stationed overseas.
  • Offers home equity loans and lines of credit.

Cons

  • Borrowers must join the credit union before applying for a mortgage.
  • The lender does not offer renovation or construction loans.
  • When we tried their customer service line, we sometimes waited longer than 10 minutes before being connected with a representative who could answer our questions.
Read full review
National / regional

National

Min. down payment

0%

Pros

  • Offers unique loan options aimed at military borrowers, such as a proprietary loan called Military Choice that works as an alternative to VA loans.
  • 24/7 customer service supports borrowers stationed overseas.
  • Offers home equity loans and lines of credit.

Cons

  • Borrowers must join the credit union before applying for a mortgage.
  • The lender does not offer renovation or construction loans.
  • When we tried their customer service line, we sometimes waited longer than 10 minutes before being connected with a representative who could answer our questions.
Read full review

Why this LENDER made the list

Navy Federal Credit Union originates a high volume of VA loans and offers a variety of loan options and services tailored to veterans.

Read our methodology

Best Mortgage Lender for Home Equity Lines of Credit

National / regional

National

Min. down payment

3%

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.
Read full review
National / regional

National

Min. down payment

3%

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.
Read full review

Why this LENDER made the list

Citibank provides a diverse set of home equity products, offers discounts to existing customers and charges low origination fees.

Read our methodology

Best Mortgage Lender for FHA Loans

Fairway Independent Mortgage

at Fairway Independent Mortgage

Min. Credit Score

620

Min. down payment

3%

Pros

  • Offers a robust suite of loan products, including ITIN loans for borrowers without Social Security numbers, renovation loans, government-backed mortgages and loans for self-employed borrowers.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Mortgage rates for different types of loans aren't posted online.
  • Origination fees and mortgage rates are on the high side compared with other lenders, according to the latest federal data.
Read full review
Min. Credit Score

620

Min. down payment

3%

Pros

  • Offers a robust suite of loan products, including ITIN loans for borrowers without Social Security numbers, renovation loans, government-backed mortgages and loans for self-employed borrowers.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Mortgage rates for different types of loans aren't posted online.
  • Origination fees and mortgage rates are on the high side compared with other lenders, according to the latest federal data.
Read full review

Why this LENDER made the list

Fairway originates a high volume of FHA loans, has strong online capabilities and flexible credit requirements, and its fees are often lower than the competition's.

Read our methodology

Best Mortgage Lender for First-Time Home Buyers (tie)

Min. Credit Score

660

Min. down payment

5%

National / regional

National

Pros

  • Offers down payment and closing cost assistance programs.
  • May give existing customers a discount on mortgage lender origination fees and HELOC interest rates.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Doesn't offer renovation or construction-to-permanent mortgage loans.
  • Must enroll in online banking to access Home Loan Navigator.
  • Fined $12 million for reporting inaccurate mortgage applicant info to the federal government.
Read full review
Min. Credit Score

660

Min. down payment

5%

National / regional

National

Pros

  • Offers down payment and closing cost assistance programs.
  • May give existing customers a discount on mortgage lender origination fees and HELOC interest rates.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Doesn't offer renovation or construction-to-permanent mortgage loans.
  • Must enroll in online banking to access Home Loan Navigator.
  • Fined $12 million for reporting inaccurate mortgage applicant info to the federal government.
Read full review

Why this LENDER made the list

Bank of America combines the low fees and online convenience first-time home buyers want with the loan programs and assistance options they often need.

Read our methodology

Best Mortgage Lender for First-Time Home Buyers (tie)

National / regional

National

Min. down payment

3%

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.
Read full review
National / regional

National

Min. down payment

3%

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.
Read full review

Why this LENDER made the list

Citibank offers online tools, a variety of low-down-payment loan options and the affordable fees first-time home buyers are looking for.

Read our methodology

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