Best Mortgage Lenders

Your mortgage lender should be your partner during every step in the home financing (or refinancing) process, offering advice and answering questions to help you feel confident in your decision.

New American Funding is a tech-driven mortgage company that works with borrowers from different backgrounds. You can complete the entire application online, and preapproval typically takes a day or two. The company works with lenders across the credit score spectrum, so you may be able to qualify even if you have poor credit (through its I CAN program).

Borrowers can get a variety of mortgage loans with New American Funding, including conventional, FHA, USDA and refinancing. Reverse mortgages and home equity loans are also available, as are zero-down payment options.

A team of loan officers helps find the best mortgage option for you. Closing times vary, but there is a close-on-time guarantee. New American Funding services loans after closing, helping you maintain your lender relationship.

Rocket Mortgage is an online mortgage company developed by one of the largest national lenders (Quicken Loans). Loans are available nationwide. Borrowers can get conventional, jumbo and some government-backed loans with a rate lock of 90 days. No HELOC loans are available, but home equity loans are.

The application process takes place entirely online. The minimum credit score required depends on the type of loan you’re interested in (lower for FHA and VA). It can take up to three days to get preapproved, and the time to close averages between 30 and 45 days.

AmeriSave is a direct lender in 49 states (not New York) and Washington, D.C. It has a relatively easy-to-navigate online application, helpful loan officers and competitive interest rates.

If you’re buying a house, you can get pre-qualified and close on the loan in as little as 25 days. Refinancing can be completed in less than a month.

Borrowers will need a minimum credit score of 600 (620 for some mortgages) and a down payment of up to 3.5%. Multiple mortgage options are available, including government-backed and conventional loans. Home equity loans and HELOCs are available as well.

The application process takes place entirely online, so if you want an in-person option, you’ll need to use another lender. There are no origination or application fees for mortgages (fees do apply for HELOCs and home equity loans), but you will need to pay closing costs up to 5%.

Nbkc bank offers mortgages, car loans, personal loans and bridge loans. If you’re shopping for a mortgage, you can choose from conventional, new construction, FHA and VA loans. The bank also offers HELOCs and refinancing options.

The credit score and minimum down payment you’ll need aren’t disclosed; you’ll need to apply or contact the bank directly for that information. You’ll also need to apply or contact the bank to find out any fees. Preapproval time and days to close can vary.

The bank is based in Kansas City but offers online lending services in all 50 U.S. states. However, if you’re looking for a HELOC, you must reside in the Kansas City metro area.

Better is a direct lender available in 49 U.S. states (not Nevada). The application process is quick and streamlined. It typically takes about three minutes to get preapproved; you can expect to close within six weeks after that.

Borrowers can get conventional, jumbo, FHA and refinancing loans as long as they have a minimum credit score of 620. There are no lender fees on home loans at Better Mortgage, and the company offers a “Better Price Guarantee,” which promises to match competitors’ offers and provide a $100 credit toward closing costs.

The application process is completely online, so if you would like an in-person option, you’ll need to consider another lender. However, the application is easy to use and navigate. Note that Better does service its loans, but at some point, your loan may be sold to another servicer or company (this does not affect the terms of your mortgage).

Popular home search site Zillow now offers conventional, VA and FHA loans for purchasing and refinancing. You’ll need a credit score of 580 to 680 to qualify (varies based on the type of loan).

Zillow loans are available in 47 states (not in New York, New Jersey and West Virginia). It’s an online-only process, but it takes just a few minutes to get preapproved. The time it takes to close ranges from one week to about two months.

The company could provide more information online about its rates, closing costs, rate lock and other features borrowers need to consider before getting a mortgage. Contact the company directly for answers to your questions on these topics.

Homefinity is a direct mortgage lender with multiple home purchase and refinancing options. It does not offer home equity loans or HELOCs. The company is part of Fairway Independent Mortgage Corporation. You can get started by filling out the online application or scheduling a phone call with a loan rep.

Homefinity offers customizable quotes for fixed and adjustable-rate mortgages. Note, though, that the quote is not the same as a preapproval.

While you can easily check rates, the company is not transparent about many borrower requirements, including minimum credit score and fees. You should receive a Loan Estimate form within three days of your application to help you plan for closing and other related costs.

Cardinal Financial is a national lender that combines personal support and digital processes. It provides guidance online, over the phone and in person. In addition to traditional home loans, the lender offers disaster relief loans, new construction loans and down payment assistance programs. HELOCs and home equity loans are not available.

The minimum credit score you need for a Cardinal Financial mortgage depends on the type of loan you want; government-backed loans require a score of 580, while conventional loans require a score of 620. For a jumbo loan, you’ll need a score of 660. Down payments vary as well.

The company is not transparent online about its loan costs and fees, and it doesn’t publish its rates. It offers both fixed- and adjustable-rate mortgages.

Network Capital has competitive rates and a straightforward process for FHA, VA and conventional loans. No USDA, HELOC or home equity loans are available.

You can check the rate options online through the Network Capital website; fixed- and adjustable-rate mortgages are available. The credit score you’ll need to qualify for a loan varies (580 for government-backed, 620 for others), and you’ll need a debt-to-income (DTI) ratio of 36% or lower for a conventional loan.

There are no origination, application or underwriting fees, but you should expect to pay closing costs that will include an appraisal fee, title fees and escrow.

Network Capital offers loans to borrowers in 43 states. It does not serve Connecticut, Georgia, Massachusetts, Missouri, New Hampshire, Nevada or Utah. You can close on a home loan in as few as 15 business days (from “intent to proceed” to signing the closing documents).

Morty is an online mortgage broker, calling itself a “mortgage concierge” that can help you find 15-year, 20-year and 30-year fixed-rate mortgages and 5/1, 7/1 and 10/1 adjustable-rate mortgages. In addition to single-family homes, Morty can secure financing for duplexes and condos as long as they are used as a primary residence.

You’ll need a 620 minimum credit score and a 3% (or higher) down payment, as well as no more than a 43% DTI ratio. It takes about five to 10 minutes to determine if you’re preapproved, and depending on where you live, you might be eligible for personalized loan options.

The company guarantees a quick process, offering borrowers $2,000 if they miss their closing date. Additionally, with Morty’s Quick Close Advantage, the process can be expedited, with a potential closing date in as little as 14 days.

Morty is a licensed broker in 46 states and Washington, D.C (not available in Hawaii, Massachusetts, Missouri and Nevada). It doesn’t currently offer government-backed loans (FHA, VA, USDA), mortgages for second homes or financing for investment properties.

A mortgage is a loan that's used to buy real estate — typically residential property. According to the Consumer Financial Protection Bureau, it’s an “agreement between you and a lender that gives the lender the right to take your property if you fail to repay the money you've borrowed plus interest.”

The two main types of mortgage loans are conventional and government-backed mortgages. Mortgages, which act as a lien or legal claim against a property, are usually between 15 and 30 years. There are also 10-year term options.

The mortgage interest rate is the amount the lender charges the borrower for the loan.

Mortgage rates can be fixed or adjustable. A fixed-rate mortgage has the same interest rate for the entire loan term, whereas an adjustable-rate mortgage has a rate that regularly changes according to an index and margin used by the lender.

>>READ MORE: Mortgage pre-qualification vs. preapproval

To get a mortgage, you’ll need to first complete an application. For many lenders, you can do so entirely online. You’ll also want to check your credit score, determine how much house you can afford and compare lender rates and other requirements (like DTI ratio and down payment amount).

Keep in mind that the mortgage lender makes a hard inquiry on your credit when you apply. Hard inquiries cause your credit score to take a small dip, so only complete an application when you’re serious about putting in an offer on a home.

The application process varies depending on your preapproval status and other factors, but everyone who applies for a mortgage generally goes through these five steps:

What to do if you’re denied

If you’re denied a mortgage, don’t stress. It happens. Common reasons for being denied a loan include leaving out crucial information on the application, an inability to verify some portion of your income, a recent application for a personal loan or line of credit, a job change or an overdraft on a checking account. You might be able to resubmit an application and have it reevaluated.

If all else fails, you can try to apply for a mortgage loan with another lender. If you’re approved, then closing is the next step toward homeownership.

>>READ MORE: What credit score is needed to buy a house?

To make our picks for top mortgage lenders, the ConsumerAffairs Research Team started with the full list of 66 mortgage companies on this guide. To narrow it down, we first eliminated those with an overall satisfaction rating below 3.5 stars, leaving 38.

To dig a little deeper, we analyzed 5,478 recent verified reviews that have been published on our site over the last 12 months (Jan. 10, 2021, through Jan. 10, 2022). Companies had to have at least twice as many 5-star reviews as 1-star reviews during this time to stay in the running.

With 21 lenders and brokers remaining, we then graded each company on loan product selection, rate and fee transparency, online reputation and availability. Our top 10 picks are ranked by a scoring system similar to a grade-point average.