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Before house hunting, shop around for the best mortgage lenders. Get tips on finding the right lender for you, and see our top picks for a variety of needs.
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Last updated on March 1, 2024
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✅ Fact checked and reviewed
Edited by
✅ Fact checked and reviewed
Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.
When you buy a home, you’re in it for the long haul. You’ll have a mortgage payment for 15, 20 or 30 years, so it’s smart to shop around to find the best mortgage lenders out there.
How to look for a lenderMortgage lenders vary by the types of home loans they offer and the rates and fees they charge.
Before shopping for lenders, get your finances in order and learn about the different types of mortgages. Then compare lenders that offer the products and services you need.
Here are five tips to help you find the best mortgage lender. (See expanded explanations of our tips following the list of lenders.)
Get your finances in shape. A good credit score and a low debt-to-income ratio will help you qualify for the best mortgage rates.
Learn what kind of mortgage is right for you. A variety of mortgages are available. Understand the options, and look for lenders that offer what you need.
Compare rates from multiple mortgage lenders. You can search for the best mortgage rates online.
Get preapproved for a mortgage. Show sellers and real estate agents that you're a serious buyer by getting preapproved.
Compare loan estimates from at least three lenders. The loan estimate spells out the loan terms, and it estimates the monthly payment, fees and closing costs.
NerdWallet has researched some of the best mortgage lenders to help narrow your choices.
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
NerdWallet's mortgage content, including articles, reviews and recommendations, is produced by a team of writers and editors who specialize in home lending. Their work has appeared in The Associated Press, USA Today, The Washington Post, MarketWatch, Newsweek and many other national, regional and local publications. They have been cited in publications including The Wall Street Journal, and appeared on NerdWallet's "Smart Money" podcast as well as local TV and radio.
Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
NerdWallet's mortgage content, including articles, reviews and recommendations, is produced by a team of writers and editors who specialize in home lending. Their work has appeared in The Associated Press, USA Today, The Washington Post, MarketWatch, Newsweek and many other national, regional and local publications. They have been cited in publications including The Wall Street Journal, and appeared on NerdWallet's "Smart Money" podcast as well as local TV and radio.
5 Tips for Finding the Best Mortgage Lender
Have you or your spouse served in the military?
We’ve got more home loan options for you. Show me
Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | Learn more |
|---|---|---|---|---|
Guaranteed Rate: NMLS#2611 Top 3 most visited 🏆Learn moreat Guaranteed Rate at Guaranteed Rate | 5.0 /5 Home loans overall Best for HELOCs | 620 | 3% | Top 3 most visited 🏆Learn moreat Guaranteed Rate at Guaranteed Rate |
Flagstar: NMLS#417490 LEARN MORE on NerdWallet | 5.0 /5 Home loans overall Best for overall mortgage experience | 620 | 3% | LEARN MORE on NerdWallet |
PNC: NMLS#446303 LEARN MORE on NerdWallet | 5.0 /5 Home loans overall Best for first-time home buyers and FHA loans | 620 | 3% | LEARN MORE on NerdWallet |
Andrews Federal Credit Union: NMLS#410421 LEARN MORE on NerdWallet | 5.0 /5 Home loans overall Best for first-time home buyers | 620 | 3% | LEARN MORE on NerdWallet |
NBKC: NMLS#409631 Top 3 most visited 🏆Learn moreat NBKC at NBKC | 4.5 /5 Home loans overall Best for FHA and VA loans | 620 | 3% | Top 3 most visited 🏆Learn moreat NBKC at NBKC |
at Guaranteed Rate
Guaranteed Rate: NMLS#2611
5.0
Home loans overall
NerdWallet rating
Min. credit score
620
Min. down payment
3%
Why We Like It
Good for: borrowers seeking a broad menu of loans, including jumbo and interest-only options, renovation loans and government-backed mortgages, as well as home equity lines of credit.
Pros
- Offers a one-day mortgage approval process.
- Offers a generous selection of loans, including government-backed, interest-only, ITIN, jumbo and renovation loans.
- Advertises a HELOC that can be funded in as few as five business days.
Cons
- Origination fees are higher than average, according to the latest federal data.
- HELOC has a relatively short draw period, which may not provide flexibility for someone who wants the option of accessing home equity over a longer period.
Read Full Review
LEARN MORE
on NerdWallet
Flagstar: NMLS#417490
5.0
Home loans overall
NerdWallet rating
Why We Like ItGood for: Borrowers who may benefit from Flagstar’s unique loan options, such as ITIN loans, loans for manufactured homes or physician loans.
Pros
- Multiple loans for those who are renovating or building a home, including loans with interest-only payments during construction.
- Offers home equity loans and lines of credit.
- Offers down payment assistance and loans for underserved borrowers, including ITIN loans and loans with flexible qualifications in certain communities.
- Interest rates are on the low side relative to other lenders, according to the latest federal data.
- Borrowers can enter their information (including their desired loan amount, down payment and zip code) into the lender’s Mortgage Quote Comparison tool and receive a customized rate quote.
Cons
- Home equity loans are not available in all locations served by Flagstar.
- In 2022, the lender was fined for violating laws regarding properties in flood zones.
Read Full Review
LEARN MORE
on NerdWallet
PNC: NMLS#446303
5.0
Home loans overall
NerdWallet rating
Min. credit score
620
Min. down payment
3%
Why We Like ItGood for: borrowers with low to moderate incomes or limited down payments, as well as home buyers seeking mortgages in higher-priced regions of the nation.
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
LEARN MORE
on NerdWallet
Andrews Federal Credit Union: NMLS#410421
5.0
Home loans overall
NerdWallet rating
Min. credit score
620
Min. down payment
3%
Why We Like ItFirst-time home buyers and military borrowers in the Mid-Atlantic looking for a lender with deep roots in their local communities.
Pros
- Caters to first-time home buyers with incentives and education.
- Provides extra support for military borrowers, including branches near bases in Germany, Belgium and the Netherlands.
- Offers HELOCs and home equity loans at competitive interest rates.
Cons
- Physical branches in the U.S. are limited to Maryland, New Jersey, Virginia and Washington, D.C.
- Does not offer renovation or construction home loans.
Read Full Review
Learn moreat NBKC
at NBKC
NBKC: NMLS#409631
4.5
Home loans overall
NerdWallet rating
Min. credit score
620
Min. down payment
3%
Why We Like ItGood for: borrowers who want low rates and fees and an online experience with phone support. VA loans are an emphasis.
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
LEARN MORE
on NerdWallet
Pennymac: NMLS#35953
4.5
Home loans overall
NerdWallet rating
Min. credit score
620
Min. down payment
3%
Why We Like ItGood for: rate-conscious borrowers who want to shop and compare a wide variety of mortgage types online.
Pros
- Rates are on the low side, according to the latest federal data.
- An online tool makes it easy to customize a rate quote online, with no contact information required.
- “Lock & Shop” lets you secure a rate for up to 90 days while you house-hunt, and switch to a lower one if rates drop while you shop.
Cons
- Origination fees are on the higher end, according to the latest federal data.
- Doesn't offer home equity lines of credit or renovation loans.
- Online chat is available only in the logged-in experience.
Read Full Review
LEARN MORE
on NerdWallet
Truist: NMLS#399803
4.5
Home loans overall
NerdWallet rating
Min. credit score
620
Min. down payment
3%
Why We Like ItGood for: first-time and low-income home buyers, early career doctors and other borrowers interested in low-down-payment mortgages, especially those in South Carolina, North Carolina, Texas and Virginia.
Pros
- Offers a wide variety of loan options, including construction loans, programs for early career doctors, a wide variety of jumbo loans and home equity lines of credit.
- Proprietary grant program can help borrowers afford down payment and closing costs.
- Mortgage rates are lower than industry average, according to the latest federal data.
Cons
- Customized rates aren't available online without contacting the lender.
- For borrowers who prefer to apply in person, branches are limited mostly to the South and East.
- Mortgages aren’t available in all 50 states.
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on NerdWallet
Navy Federal: NMLS#399807
4.5
Home loans overall
NerdWallet rating
National / regional
National
Min. down payment
0%
Why We Like ItGood for: Military borrowers who’ve exhausted their VA loan benefits and qualified government employees who want to compare mortgage options without down payments.
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
LEARN MORE
on NerdWallet
Better: NMLS#330511
4.5
Home loans overall
NerdWallet rating
Min. credit score
620
Min. down payment
3%
Why We Like ItGood 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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on NerdWallet
Alliant: NMLS#197185
4.5
Home loans overall
NerdWallet rating
Min. credit score
N/A
Min. down payment
3%
Why We Like ItGood for: eligible borrowers who are open to joining a credit union and want a mortgage from an online lender.
Pros
- Borrowers can apply entirely online. The lender is also very transparent about what borrowers can expect from the process, including nontraditional customers.
- Borrowers do not need to become members of the credit union until they’ve reached the closing process, meaning that interested home buyers can apply and get rate offers without committing to membership.
- Offers customized rate quotes, including a detailed breakdown of estimated closing costs.
Cons
- Doesn’t offer renovation loans.
- Joining the credit union adds a step to the application process.
Read Full Review
5 tips for finding the best mortgage lenders
Here are five tips to find the best lender for you.
1. Get your finances in good shape
The credit score required to get a mortgage varies by the type of loan and the lender. With a higher score, you'll have more choices of loan programs and you'll qualify for lower interest rates.
Before shopping for lenders, find out your credit score and make sure your credit reports are accurate. NerdWallet offers a free credit score and report, updated weekly, using TransUnion data.
You can receive free copies of your reports from each of the three major credit bureaus through the government-mandated AnnualCreditReport.com website. Check the reports carefully, and dispute any errors.
Next, work on improving your credit. Pay bills on time, and work on paying off credit card balances. Lowering your debt will also improve your debt-to-income ratio, or DTI, another key element that lenders evaluate. An ideal DTI ratio for a mortgage is under 36%. Reducing your debt payments will also free up money to save for a home down payment.
2. Learn what kind of mortgage is right for you
A variety of home loans are available to satisfy different needs. For example:
VA loans can help active and veteran military members and USDA loans are available for rural homebuyers. Neither require a down payment.
FHA loans have lower credit score requirements than other mortgages and require as little as 3.5% down.
Conventional loans are generally geared to borrowers with good credit, and some require as little as 3% down.
Jumbo loans are used to finance properties that are too expensive for most conventional loans.
Home loans also vary by term length, such as 15 or 30 years, and by how the interest rate works. With fixed-rate mortgages, the interest rate stays the same for the entire loan term; with an adjustable-rate mortgage, the interest rate periodically increases or decreases, after an initial fixed-rate period.
Some lenders offer a broad mix of mortgages; others specialize in certain types. Once you understand the general options, you can seek out the lenders that offer what you need.
3. Compare rates from multiple mortgage lenders
Search for the best mortgage rates online from lenders that offer the types of loans you want. Keep in mind that the rate quote you see is an estimate. A lender will have to pull your credit information and process a loan application to provide an accurate rate, which you can then lock in if you’re satisfied with the product.
Once you have several quotes from lenders, narrow the list to those with the lowest rates. The total interest you pay over the life of the loan is a big figure, and a lower rate can save you thousands of dollars.
» MORE: Use our mortgage calculator to find out your monthly mortgage payment.
4. Get preapproved
Apply for mortgage preapproval with more than one lender before you start shopping for a home. A mortgage preapproval letter shows sellers and real estate agents that you're a serious buyer. It's evidence that a lender has evaluated your finances and figured out how much you can afford to borrow.
Getting preapproved now will also save time later. When you're ready to make an offer on a home, lenders will have the information they need to process your home loan.
To get preapproved, you’ll have to provide information about your income, debts and assets. Lenders typically require:
Social Security numbers for yourself and any co-borrowers.
Savings, checking and investment account information.
Information about outstanding debt obligations, including credit card, car loan, student loan and other balances.
Two years of tax returns, W-2s and 1099s.
Salary and employer information.
Information about how large a down payment you can make and where the money is coming from.
5. Compare loan estimates and choose the best deal
A loan estimate is a document a lender must provide after you've applied for a loan and have provided certain information, including the address of the property you want to buy. The document will spell out important details about your loan, including the interest rate, monthly payment, fees and estimated closing costs.
Compare loan estimates from at least three lenders. Read each line to make sure the details match what you expected, and ask questions about anything you don't understand. Then carefully compare costs and terms to choose the best deal for you.
» MORE FOR CANADIAN READERS: How to choose a mortgage lender
More from NerdWallet
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Get preapproved for your mortgage
Last updated on March 1, 2024
Methodology
NerdWallet's content team selected its list of lenders based on the following 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 four key areas we evaluated include the variety of loan types offered, ease of application, mortgage rate transparency, and our analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. The highest-scoring lenders in our overall star ratings rubric appear on this page. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
NerdWallet's 5 Tips for Finding the Best Mortgage Lender
- Guaranteed Rate: Best for HELOCs
- Flagstar: Best for overall mortgage experience
- PNC: Best for first-time home buyers and FHA loans
- Andrews Federal Credit Union: Best for first-time home buyers
- NBKC: Best for FHA and VA loans
- Pennymac: Best for FHA loans
- Truist: Best for HELOCs
- Navy Federal: Best for VA loans
- Better: Best for loan variety
- Alliant: Best for jumbo loans
