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Best-of-the-Best Mortgage Lenders of 2019

Our nerds spent countless hours reviewing and comparing mortgage lenders — many of them are our partners — before selecting the winners. The factors they considered include the loan types available, online mortgage rate info, customer service and more.


badge Best Mortgage Lenders for Purchase Loans

Quicken Loans: NMLS#3030

4.0

NerdWallet rating 
Min. Credit Score

620

Min. down payment

3%

Pros

  • Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.
  • Estimates the loan amount you’ll qualify for within minutes.
  • Streamlines the online process with document and asset retrieval capabilities, including the ability to edit your preapproval letter.

Cons

  • Getting a customized interest rate requires a credit check, which can affect your credit score.
  • Doesn't offer home equity loans or lines of credit.
  • Lender fees are on the high side and the fees aren't offset by particularly low mortgage rates, according to the latest data.
Read full review
Min. Credit Score

620

Min. down payment

3%

Pros

  • Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.
  • Estimates the loan amount you’ll qualify for within minutes.
  • Streamlines the online process with document and asset retrieval capabilities, including the ability to edit your preapproval letter.

Cons

  • Getting a customized interest rate requires a credit check, which can affect your credit score.
  • Doesn't offer home equity loans or lines of credit.
  • Lender fees are on the high side and the fees aren't offset by particularly low mortgage rates, according to the latest data.
Read full review
New American Funding
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at New American Funding

New American Funding: NMLS#6606

4.0

NerdWallet rating 
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at New American Funding

Min. Credit Score

580

Min. down payment

3%

Pros

  • Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
  • Its home equity line of credit can be used for a primary residence or second home.

Cons

  • Average origination fees are on the high side, according to the latest federal data.
  • Personalized mortgage rates are not available on the website without providing contact information.
Read full review
Min. Credit Score

580

Min. down payment

3%

Pros

  • Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
  • Its home equity line of credit can be used for a primary residence or second home.

Cons

  • Average origination fees are on the high side, according to the latest federal data.
  • Personalized mortgage rates are not available on the website without providing contact information.
Read full review


badge Best Online Mortgage Lenders

Rocket Mortgage, LLC
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at Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

4.5

NerdWallet rating 
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at Rocket Mortgage, LLC

Min. Credit Score

620

Min. down payment

1%

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.
Read full review
Min. Credit Score

620

Min. down payment

1%

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.
Read full review
Rate
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at Rate

Rate: NMLS#2611

5.0

NerdWallet rating 
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at Rate

Min. Credit Score

620

Min. down payment

3%

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.
Read full review
Min. Credit Score

620

Min. down payment

3%

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.
Read full review


badge Best Mortgage Lenders for FHA Loans

New American Funding
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at New American Funding

New American Funding: NMLS#6606

4.5

NerdWallet rating 
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at New American Funding

Min. Credit Score

500

Min. down payment

3.5%

Pros

  • Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
  • Dedicates a significant portion of its business to FHA lending.

Cons

  • FHA mortgage origination fees and interest rates tend to be on the high end, according to the latest federal data.
Read full review
Min. Credit Score

500

Min. down payment

3.5%

Pros

  • Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
  • Dedicates a significant portion of its business to FHA lending.

Cons

  • FHA mortgage origination fees and interest rates tend to be on the high end, according to the latest federal data.
Read full review

Citibank: NMLS#412915

4.0

NerdWallet rating 
National / regional

National

Min. down payment

3.5%

Pros

  • Offers a wide variety of loan options, including low-down-payment mortgages and jumbo mortgages.
  • Offers low rates compared with other lenders, according to the latest data.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Requires help from a loan officer to complete an online mortgage application.
  • Customized mortgage rates not available without making contact.
  • Doesn’t offer renovation loans.
Read full review
National / regional

National

Min. down payment

3.5%

Pros

  • Offers a wide variety of loan options, including low-down-payment mortgages and jumbo mortgages.
  • Offers low rates compared with other lenders, according to the latest data.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Requires help from a loan officer to complete an online mortgage application.
  • Customized mortgage rates not available without making contact.
  • Doesn’t offer renovation loans.
Read full review


badge Best Online Mortgage Lenders for Jumbo Loans

Better
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at Better

Better: NMLS#330511

3.5

NerdWallet rating 
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at Better

National / regional

National

Min. down payment

10.1%

Pros

  • Offers a program allowing qualifying buyers to make cash offers.
  • Makes it easy to see customized mortgage rates.
  • Average interest rates are on the low end compared to other lenders, according to the latest federal data.

Cons

  • Doesn’t offer USDA loans.
  • VA loans are not available in every state.
  • Doesn't offer home equity loans.
Read full review
National / regional

National

Min. down payment

10.1%

Pros

  • Offers a program allowing qualifying buyers to make cash offers.
  • Makes it easy to see customized mortgage rates.
  • Average interest rates are on the low end compared to other lenders, according to the latest federal data.

Cons

  • Doesn’t offer USDA loans.
  • VA loans are not available in every state.
  • Doesn't offer home equity loans.
Read full review

SoFi: NMLS#696891

4.5

NerdWallet rating 
Min. Credit Score

620

Min. down payment

3%

Pros

  • Offers a credit up to $10,000 if closing exceeds the contract date and the lender is at fault.
  • Sample mortgage rates are highly customizable.
  • Borrowers can lock in their rate for up to 91 days after preapproval.

Cons

  • Borrowers may experience difficulty with customer service.
Read full review
Min. Credit Score

620

Min. down payment

3%

Pros

  • Offers a credit up to $10,000 if closing exceeds the contract date and the lender is at fault.
  • Sample mortgage rates are highly customizable.
  • Borrowers can lock in their rate for up to 91 days after preapproval.

Cons

  • Borrowers may experience difficulty with customer service.
Read full review


badge Best Mortgage Lenders for Refinance Loans

Chase: NMLS#399798

4.5

NerdWallet rating 
Min. Credit Score

620

National / regional

National

Pros

  • Carries a wide variety of mortgage types and products, including mortgages with down payments as low as 3%.
  • Offers low rates compared with other lenders, according to the latest federal data.
  • Offers a customizable mortgage calculator for personalized rate and payment estimates.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.
  • You have to speak with a home loan adviser to complete the application.
  • Home equity lines of credit (HELOC) are currently unavailable.
Read full review
Min. Credit Score

620

National / regional

National

Pros

  • Carries a wide variety of mortgage types and products, including mortgages with down payments as low as 3%.
  • Offers low rates compared with other lenders, according to the latest federal data.
  • Offers a customizable mortgage calculator for personalized rate and payment estimates.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.
  • You have to speak with a home loan adviser to complete the application.
  • Home equity lines of credit (HELOC) are currently unavailable.
Read full review

Reali Loans: NMLS#991397

4.5

NerdWallet rating 
Min. Credit Score

620

National / regional

Regional

Pros

  • Offers a completely online application process.
  • Posts current interest rates for purchase and refinancing.
  • Provides customized rate quotes online.

Cons

  • Available in just 14 states.
  • Offers fewer loan types and products than other lenders.
Read full review
Min. Credit Score

620

National / regional

Regional

Pros

  • Offers a completely online application process.
  • Posts current interest rates for purchase and refinancing.
  • Provides customized rate quotes online.

Cons

  • Available in just 14 states.
  • Offers fewer loan types and products than other lenders.
Read full review


badge Best Mortgage Lenders for VA Loans

Veterans United
Learn More

at Veterans United

Veterans United: NMLS#1907

4.5

NerdWallet rating 
Learn More

at Veterans United

Min. Credit Score

620

Min. down payment

0%

Pros

  • Largest VA lender in the country by far.
  • Offers 24/7 customer service over the phone.
  • Offers a free credit counseling service.

Cons

  • Does not offer second mortgage options like home equity loans or HELOCs.
  • Borrower must provide contact info for customized rates.
Read full review
Min. Credit Score

620

Min. down payment

0%

Pros

  • Largest VA lender in the country by far.
  • Offers 24/7 customer service over the phone.
  • Offers a free credit counseling service.

Cons

  • Does not offer second mortgage options like home equity loans or HELOCs.
  • Borrower must provide contact info for customized rates.
Read full review
Rate
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at Rate

Rate: NMLS#2611

4.5

NerdWallet rating 
Learn More

at Rate

Min. Credit Score

580

Min. down payment

0%

Pros

  • Displays detailed sample rates for many of its loan products.
  • Offers a wide variety of loans, including jumbo and interest-only products.

Cons

  • HELOC has a relatively short draw period.
Read full review
Min. Credit Score

580

Min. down payment

0%

Pros

  • Displays detailed sample rates for many of its loan products.
  • Offers a wide variety of loans, including jumbo and interest-only products.

Cons

  • HELOC has a relatively short draw period.
Read full review


badge Best Mortgage Lenders for Home Equity Lines of Credit

PNC: NMLS#446303

5.0

NerdWallet rating 
National / regional

National

Max LTV

80%

Min. Credit Score

700

Pros

  • Customizable sample rates available online.
  • Available for second homes in most states.
  • Offers a rate discount for autopay from a PNC checking account.

Cons

  • Not available in all states.
  • Charges an annual fee.
Read full review
National / regional

National

Max LTV

80%

Min. Credit Score

700

Pros

  • Customizable sample rates available online.
  • Available for second homes in most states.
  • Offers a rate discount for autopay from a PNC checking account.

Cons

  • Not available in all states.
  • Charges an annual fee.
Read full review

US Bank: NMLS#402761

4.0

NerdWallet rating 
National / regional

National

Max LTV

80%

Min. Credit Score

620

Pros

  • Publishes a sample HELOC rate online.
  • Offers a fixed-rate payment option.

Cons

  • Charges a fee for early repayment.
  • $90 annual fee, waived for borrowers with a certain U.S. Bank checking plan.
Read full review
National / regional

National

Max LTV

80%

Min. Credit Score

620

Pros

  • Publishes a sample HELOC rate online.
  • Offers a fixed-rate payment option.

Cons

  • Charges a fee for early repayment.
  • $90 annual fee, waived for borrowers with a certain U.S. Bank checking plan.
Read full review

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At NerdWallet, we offer straightforward info and tools to help you make the best possible financial decisions. All for free. So how do we make money? In most cases, when someone applies or gets approved for a financial product we get paid. But that doesn’t sway our opinions.