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Find the best online mortgage lenders

Compare loan options, web features and reviews

Mr. Cooper, Zillow Home Loans, LLC, First Internet Bank, Rocket Mortgage and Better Mortgage
person submitting mortgage application on computer

If you’re thinking about purchasing a home or refinancing an existing loan, it’s critical to have the right lender available to help. Online lenders may be more flexible, providing a larger range of loan options. Still, finding the one for you can be difficult.

Use our guide to compare some of the best online lenders on available programs, eligibility requirements and reviews from customers.

Our picks for top online mortgage lenders

To find the top online mortgage lenders, we primarily considered customer reviews and overall web experience.

The ConsumerAffairs Research Team compared 20 mortgage lenders and analyzed more than 4,500 verified customer reviews. We looked for free online quotes, easy-to-navigate applications and the option to make monthly payments through a secure portal. Read our methodology for more on how we selected the lenders below.

Current conventional national mortgage and refinance rates

Rates are effective 09/20/2021 and are subject to change without notice. APR shown is provided by a partner of ConsumerAffairs.

ProductAPR
3.168%-0.06%Get Rates

The APR shown of 3.168% is available for a 30-year fixed rate loan in the amount of $200,000 for consumers with loan-to-value of at least 80%.

2.812%0.0%Get Rates

The APR shown of 2.812% is available for a 20-year fixed rate loan in the amount of $200,000 for consumers with loan-to-value of at least 80%.

2.605%-0.05%Get Rates

The APR shown of 2.605% is available for a 30-year VA fixed rate loan in the amount of $200,000 for consumers with loan-to-value of at least 80%.

2.413%0.0%Get Rates

The APR shown of 2.413% is available for a 10-year fixed rate loan in the amount of $200,000 for consumers with loan-to-value of at least 80%.

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Help me Decide
Our pick for no commission feesBetter MortgageAUTHORIZED PARTNER
  • Minimum credit score: 620
  • Loan products: Purchase and refinancing for ​​conventional and jumbo loans
  • Availability: Most states

Better Mortgage stands out for its easy application process, and there are no origination fees or lender fees. Most of the application process is online, including approval. Assistance is available from professionals at the company.

Better Mortgage works to provide a preapproval letter in about 24 hours. If you are looking to buy soon, this may be a good way to get fast approval.

“Better Mortgage had a better web app and the information was all transparent online. It was very easy to use and get good information about the loan without having to go through the hurdles of dealing with back and forth and lots of phone calls,” according to a reviewer in Florida. “I've had four mortgages in my lifetime and usually, it sucks. Better Mortgage's technology was that much better.”

Our pick for lender support Zillow Home Loans, LLCAUTHORIZED PARTNER
  • Minimum credit score: Varies
  • Loan products: Conventional, VA and FHA loans
  • Availability: Nationwide

Most people associate Zillow with its real estate-focused website that provides data on home values, listings and market trends. However, Zillow also has a full-service online mortgage lending broker with access to some of the most competitive interest rates in the market. Loans with 5/1 and 7/1 adjustable rates are available.

Zillow Home Loans has several online tools to educate first-time buyers, including resources for picking a loan, estimating costs, calculating fees and planning for sales. The only real drawback for Zillow Home Loans is that the closing timeline can be on the longer side.

“The entire refi was done online except the final signing and with the portal was simple and fast. I have to say that I enjoyed the whole experience, I got the rate I wanted fast and easy and Diana was a blast to talk to!” a reviewer in Oregon said.

Our pick for easy refiRocket MortgageAUTHORIZED PARTNER
  • Minimum credit score: 580 to 620
  • Loan products: FHA, VA, conventional and jumbo loans for purchase and refinance loans
  • Availability: Nationwide

Perhaps one of the most well-known online mortgage lenders, Rocket Mortgage has a lot to offer, including an easy-to-use application process online. The company set out to create a mortgage loan application process that meets the needs of those who want to apply completely online.

“It was extremely convenient being able to load all of the documents online, and how the processing team communicated via text,” a reviewer in Rhode Island told us. “My only feedback for improvement would be that sometimes I received calls or texts from other members of the team that I was not familiar with. … It felt like too many people to be in contact with sometimes.”

Our pick for competitive ratesFirst Internet BankAUTHORIZED PARTNER
  • Minimum credit score: Varies
  • Loan products: Conventional, construction, FHA, VA and jumbo loans; home equity loans and lines of credit
  • Availability: Nationwide

First Internet Bank is more than just an online mortgage lender. It also offers in-person services and both checking and savings account options. The company has an online portal to make applications and monthly payments easy to manage, but it does not offer an app.

“My realtor was hesitant when I wanted to use First Internet Bank, since he never heard of it, but they were easier to work with than the local bank and mortgage broker, and beat the closing estimate date by 2 weeks,” a reviewer in Pennsylvania told us. “Plus they saved us thousands in closing costs and had the best interest rate by far.”

Our pick for less-than-perfect creditMr. CooperAUTHORIZED PARTNER
  • Minimum credit score: 580
  • Loan products: Conventional, jumbo, VA and FHA loans for purchase and refi
  • Availability: Nationwide

Mr. Cooper’s online application process is fast and easy, with a promise of a preapproval decision within 20 minutes. However, it can take up to three days if additional documentation is necessary — e.g., for those who have a lower credit score. This lender takes about 35 days to close on mortgage loans, which is about average.

Mr. Cooper also offers a digital mortgage loan tracker tool, which lets you manage the application process in a more streamlined manner. The app gives you information about your home’s value, your current home equity and selling trends in the neighborhood.

Our pick for veteransVeterans United
  • Minimum credit score: Varies
  • Loan products: VA loans, IRRRL refinancing
  • Availability: Nationwide

Veterans United does an excellent job of helping current and former members of the military and their families get government-backed VA loans. It has advisors from each branch of the armed forces to assist with the application process. For those who may not qualify, Veterans United offers free credit counseling services.

There are a few key reasons to choose this lender over others, including the online access to various tools like its simple app. It also offers 24-hour support, which can be nice for those with atypical schedules.

“The entire process [was] quick, efficient and streamlined. The online options for uploading, viewing and signing forms made the application and all subsequent steps a breeze,” a reviewer in Colorado said.

Our pick for nontraditional incomesNorth American Savings Bank
  • Minimum credit score: 620
  • Loan products: VA, FHA and jumbo loans and refinancing
  • Availability: Most states

NASB does a few key things really well: It offers support for VA loan borrowers, and it works with those who have less-than-ideal credit scores. If you have less traditional income sources, you can take advantage of the FLEX loan program, which requires less than 20% down. You can qualify even if you’ve had a previous bankruptcy or foreclosure.

“I was a little nervous doing it all online, but the portal was easy to navigate, Luke was very easy to get ahold of and responsive when we had questions,” a reviewer in Washington said. “I shopped multiple banks and credit unions, and no one could beat the NASB rate.”

How to apply for a mortgage online

Conventional loan credit score requirement = 620

Applying for a mortgage online isn't much different from applying at a local bank. The first goal is to gather everything the online mortgage company might need. This may include information and records such as:

  • ID
  • Social Security number
  • Recent W-2s
  • Paycheck stubs
  • Bank account statements
  • Tax returns from previous years
  • Proof of other assets

To get a mortgage, you’ll also need to provide information about the type of loan you're looking for. Be sure to give the lender permission to obtain your credit score; the mortgage company will need this to pull a credit report. Follow the instructions online for completing the application and tracking the progress as you receive status updates.

Pros and cons of online mortgage lenders

What does an online lender bring to the table? There are advantages and disadvantages to borrowing from this type of lender.

On the internet, you can apply at your own convenience and pace — it doesn’t have to be during regular business hours. It’s also easier online to compare multiple lenders on mortgage interest rates, annual percentage rates, loan terms and other features. Often, approvals are faster online too.

On the other hand, you sometimes get less personalized service from an online lender. Some borrowers prefer face-to-face interactions with loan officers over an entirely online process.

PROS

  • Apply whenever you want
  • Easy to compare mortgage rates and terms
  • Approval may be faster

CONS

  • Less personalized service
  • Not all online lenders are reputable

Online mortgage FAQ

A nonbank online lender is one that does not accept deposits. It’s not a traditional bank with savings and checking accounts. Rather, it simply lets you borrow through mortgages or credit cards. Online lenders offer their services online and may not have a traditional brick-and-mortar location. Traditional banks accept deposits and lend money at branches and online.
Always choose a lender as your first step. There are numerous benefits to this. First, you’ll know how much you can spend to buy a home. There’s no benefit in getting your hopes up or limiting yourself without knowing what your options are. Once you're pre-qualified, you have negotiating power and demonstrate to a seller that you're ready to purchase.
Research the lender thoroughly by checking for complaints with state regulators and reading reviews from customers. Avoid any lender with unusually high rates or fees or one that pressures you to lie on your application or sign documents quickly.

Bottom line

To find the best online mortgage lender for you, look at reviews, loan types, online experience and availability. You can ask lenders for details about loan rates, terms and loan amounts without having your credit score pulled. Make sure the lender has a secure online mortgage portal to track progress. Once you’re serious about shopping for a home, it’s time to get pre-qualified. For more information, explore financial services by topic.

Methodology

We started with a list of the 20 highest-rated mortgage lenders on our site. To narrow it down, we compared reviews and complaints, requiring at least a 2:1 ratio of 5-star reviews to 1-star reviews over the last 12 months (June 22, 2020, through June 22, 2021) plus an online quote option, leaving 11 lenders.

For a lender to stay on the list, we required it to offer online payment options to homebuyers in most states. Overall web experience and app ratings were also considered in our final selections.

All of our picks have mobile-friendly websites or an app rated above 3.5 on the App Store as of July 22, 2021.

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The ConsumerAffairs Research Team believes everyone deserves to make smart decisions. We aim to provide readers with the most up-to-date information available about today's consumer products and services.