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Standout Mortgage Lenders

Reach out to multiple lenders to see how much you could save. It pays to compare your options.

Standout Mortgage Lenders From Our Partners

Better
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at Better

Better: NMLS#330511

4.5

NerdWallet rating 
Better

Min. credit score

620

Min. down payment

3%
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at Better

Why we like it

Good for: borrowers who prefer an online experience, prize low rates and are primarily interested in conventional loans.

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.

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New American Funding
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at New American Funding

New American Funding: NMLS#6606

4.0

NerdWallet rating 
New American Funding

Min. credit score

580

Min. down payment

3%
Learn more

at New American Funding

Why we like it

Good for: first-time home buyers, military members and self-employed or underrepresented borrowers.

Pros

  • Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.

  • Its home equity line of credit can be used for an owner-occupied or second home.

  • Has a program to enable buyers to make cash offers.

  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.

Cons

  • Mortgage origination fees tend to be on the high end.

  • Personalized mortgage rates are not available on the website without providing contact information.

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Get quotes from multiple lenders

Apply to several lenders rather than just one to make sure you are getting the best deal, and that you are comparing all-in costs. Once you have multiple offers in your hand, you can compare loan terms such as fees, rates, time to close, the availability of online application and loan tracking, and customer service offerings.

In a 2015 report, the Consumer Financial Protection Bureau (CFPB) found that 77% of consumers apply to only one lender when seeking a mortgage. By shopping just three different lenders, borrowers could save more than $3,500 in just the first five years, according to the CFPB’s research, and, in one example, enjoy payments that are nearly $60 less per month.

RATING METHODOLOGY:

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

CFPB source: https://www.consumerfinance.gov/about-us/blog/nearly-half-of-mortgage-borrowers-dont-shop-around-when-they-buy-a-home/

To recap our selections...

NerdWallet's Standout Mortgage Lenders