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  • Best Mortgage Lenders

Best Mortgage Lenders of February 2021

by: Christy Bieber  |  Jan. 12, 2021

The Ascent is reader-supported: we may earn a commission from offers on this page. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation.

Choosing a mortgage and buying a home are both big decisions. When looking for the best mortgage company, borrowers should shop around with several different lenders to find a loan that offers the best interest rate, low origination fees, and timely loan approval. This guide will help you understand more about what a mortgage is and how to find the top mortgage lenders for your particular situation.

The Ascent's picks for the best home mortgage lenders for February 2021:

  • No lender fees and online application: Better.com
  • Streamlined online application: Rocket Mortgage
  • VA loans: Veterans United
  • Diverse terms and loan products: Axos Bank Mortgage
  • Diverse loan types and terms: New American Funding
  • First-time homebuyers: CitiMortgage
  • Diverse loan options: Bank of America Mortgage
  • No mortgage insurance option: Navy Federal Credit Union Mortgage
  • High loan amounts and relationship discounts: SoFi Mortgage
  • Diverse loan offerings: PNC Bank Mortgage
  • Low rate guarantee: PennyMac Mortgage
Show The List [+] Hide The List [-]
Ratings Methodology
Better.com

Check Rates

Check Rates

On Better.com's Secure Website.

Best for: No lender fees and online application Better.com

Rating image, 5.0 out of 5 stars.
5.0 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Has the right combination of features and perks, including no origination fees, low mortgage rates, and an online experience that helps homeowners cut their costs while saving time. Case in point, borrowers can secure preapproval in minutes. The lender also offers $150 off closing costs when applying through The Ascent site. Read Full Review

Apply Now

On Better.com's Secure Website.

Min. Credit Score

  • 580 (FHA)
  • 620 (other mortgage products)

Min. Down Payment

  • 3.5% (FHA)
  • 3% (conventional loans)

Key Features

  • No origination fees
  • Instant loan estimates
  • 100% online application
  • $150 off closing costs for The Ascent readers

Loan Types
  • Conventional
  • FHA
  • Jumbo
Fixed Rate Terms

  • 30y, 20y, 15y

Adjustable Rate Terms

  • 10/1, 7/1, 5/1

Rocket Mortgage

Check Rates

Check Rates

On Rocket Mortgage/Quicken Loans' Secure Website.

Best for: Streamlined online application Rocket Mortgage

Rating image, 5.0 out of 5 stars.
5.0 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Led the transition to online-only applications and that seamless process is one reason which it has become the largest U.S. lender. Consistent JD Power customer service rankings make it hard to ignore. Read Full Review

Apply Now

On Rocket Mortgage/Quicken Loans' Secure Website.

Min. Credit Score

  • 580 (FHA)
  • 620 (other mortgage products)

Min. Down Payment

  • 0%-3.5% (FHA & VA loans)
  • 3% (conventional loans)

Key Features

  • Online-only
  • High allowable debt-to-income
  • Low down payment options

Loan Types
  • Conventional
  • FHA
  • VA
  • Jumbo
Fixed Rate Terms

  • Customizable (8y-30y)

Adjustable Rate Terms

  • 10/1, 7/1, 5/1

Veterans United

Check Rates

Check Rates

On Veterans United's Secure Website.

Best for: VA loans Veterans United

Rating image, 4.5 out of 5 stars.
4.5 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

The fact that it is the largest VA home lender speaks volumes. But Veterans United also offers an array of terms and loan products, in addition to competitive rates. Read Full Review

Apply Now

On Veterans United's Secure Website.

Min. Credit Score

  • 580 (FHA)
  • 620 (VA)
  • 660 (other mortgage products)

Min. Down Payment

  • 0%-3.5% (FHA, VA, and USDA loans)
  • 3% (conventional loans)

Key Features

  • Online approval process
  • No required downpayment
  • Low rates

Loan Types
  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
Fixed Rate Terms

  • 30y, 15y

Adjustable Rate Terms

  • 5/1

Axos Bank Mortgage

Check Rates

Check Rates

On Axos Bank's Secure Website.

Best for: Diverse terms and loan products Axos Bank Mortgage

Rating image, 5.0 out of 5 stars.
5.0 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

No lender fees for existing customers, along with a full online experience make it a top pick. One of the rare lenders to offer loans up to $25mm. Read Full Review

Apply Now

On Axos Bank's Secure Website.

Min. Credit Score

  • 580 (FHA)
  • 620 (other mortgage products)

Min. Down Payment

  • 3%

Key Features

  • Lender fee waiver for existing customers
  • Jumbo and super jumbo loans
  • HELOC and home equity line of credit offerings

Loan Types
  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
  • Interest Only
Fixed Rate Terms

  • 30y, 20y, 15y, 10y

Adjustable Rate Terms

  • 10/1, 7/1, 5/1, 3/1

New American Funding

Check Rates

Check Rates

On New American Funding's Secure Website.

Best for: Diverse loan types and terms New American Funding

Rating image, 4.5 out of 5 stars.
4.5 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Competitive rates and a diverse set of loan terms and products are a rare combo. Fast service simplifies the homebuying process even more. Read Full Review

Apply Now

On New American Funding's Secure Website.

Min. Credit Score

  • 580 (FHA)
  • 620 (other mortgage products)

Min. Down Payment

  • 0%-3.5% (FHA and VA loans)
  • 3% (conventional loans)

Key Features

  • Fast service
  • High customer satisfaction, A+ BBB rating

Loan Types
  • Conventional
  • FHA
  • VA
Fixed Rate Terms

  • Customizable (8y-30y)

Adjustable Rate Terms

  • 10/1, 7/1, 5/1

CitiMortgage
Read Review

Best for: First-time homebuyers CitiMortgage

Rating image, 4.5 out of 5 stars.
4.5 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

The diverse set of loan products and terms and relationship discounts make it a top pick, particularly for first-time homebuyers. The high customer satisfaction ratings are the cherry on top. Read Full Review

Read Review
Min. Credit Score

  • 580 (FHA)
  • 620 (other mortgage products)

Min. Down Payment

  • 3%

Key Features

  • No PMI offering
  • High customer satisfaction
  • Loans up to $8mm
  • Available in all 50 states

Loan Types
  • Conventional
  • FHA
  • VA
  • Jumbo
Fixed Rate Terms

  • 30y, 15y

Adjustable Rate Terms

  • 10/1, 7/1, 5/1

Bank of America Mortgage
Read Review

Best for: Diverse loan options Bank of America Mortgage

Rating image, 5.0 out of 5 stars.
5.0 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Few lenders can match the lineup of loan products and terms. The high-tech digital experience compliments the banks extensive branch network. The interest rate and fee discounts for Preferred Rewards members define what relationship banking should look like. Read Full Review

Read Review
Min. Credit Score

  • 580 (FHA)
  • 620 (other mortgage products)
  • 640 (Affordable Loan Solution®)

Min. Down Payment

  • 0%-3.5% (FHA, USDA loans, & VA loans)
  • 3% (conventional loans)

Key Features

  • Relationship interest rate and fee discounts
  • Ability to apply entirely online
  • No PMI offering
  • Loans up to $5mm

Loan Types
  • Conventional
  • FHA
  • VA
  • Jumbo
  • Interest Only
Fixed Rate Terms

  • 30y, 20y, 15y

Adjustable Rate Terms

  • 10/1, 7/1, 5/1

Navy Federal Credit Union Mortgage
Read Review

Best for: No mortgage insurance option Navy Federal Credit Union Mortgage

Rating image, 4.5 out of 5 stars.
4.5 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

The rate match guarantee ensures homeowners can secure a great deal and the ability to finance up to 100% of purchase price is a rare offering. The lender scores some of the best customer satisfaction ratings among top picks. Read Full Review

Read Review
Min. Credit Score

  • 580 (FHA)
  • 620 (other mortgage products)

Min. Down Payment

  • 0%

Key Features

  • High customer satisfaction
  • Up to 100% financing
  • No PMI offering
  • Rate match guarantee

Loan Types
  • Conventional
  • FHA
  • VA
  • Jumbo
  • Interest Only
Fixed Rate Terms

  • 30y, 15y

Adjustable Rate Terms

  • 5/5, 3/5
  • 5/1, 3/1, 1/1

SoFi Mortgage
Read Review

Best for: High loan amounts and relationship discounts SoFi Mortgage

Rating image, 4.5 out of 5 stars.
4.5 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Fast prequalification, membership discounts, and a modern experience explain its top pick status. A potential fit for self-employed borrowers, based on SoFi’s nontraditional underwriting process that focuses less on credit history and more on income and assets. Read Full Review

Read Review
Min. Credit Score

  • N/A: Uses alternative data

Min. Down Payment

  • 10%

Key Features

  • Borrow up to $3mm
  • No PMI offering
  • $500 membership discount
  • Fast prequalification

Loan Types
  • Conventional
  • Jumbo
Fixed Rate Terms

  • 30y, 15y

Adjustable Rate Terms

  • 7/1

PNC Bank Mortgage
Read Review

Best for: Diverse loan offerings PNC Bank Mortgage

Rating image, 4.5 out of 5 stars.
4.5 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

Diverse loan products and terms make it a flexible lender for many needs, including several no PMI options to choose from. Read Full Review

Read Review
Min. Credit Score

  • 580 (FHA)
  • 620 (other mortgage products)

Min. Down Payment

  • 3%

Key Features

  • 3% down no PMI offering
  • HELOC's
  • Home equity loans
  • Considers nontraditional credit history

Loan Types
  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
Fixed Rate Terms

  • 30y, 20y, 15y, 10y

Adjustable Rate Terms

  • 10/1, 7/1, 5/1, 3/1

PennyMac Mortgage
Read Review

Best for: Low rate guarantee PennyMac Mortgage

Rating image, 4.5 out of 5 stars.
4.5 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Bottom Line

By offering rate transparency, online only help, flexible loan terms, and a rate guaranteed to beat competitors, PennyMac is a great place for people to start looking for a mortgage. Read Full Review

Read Review
Min. Credit Score

  • 580 (FHA)
  • 620 (other mortgage products)

Min. Down Payment

  • 3% (conventional loans)

Key Features

  • 100% online application
  • Instant rate estimates
  • Flexible terms
  • No lender fee

Loan Types
  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
Fixed Rate Terms

  • 3y, 20y, 15y (some customized terms are available)

Adjustable Rate Terms

  • 3/1, 5/1, 7/1, 10/1

What is a mortgage?

A mortgage is a loan that you can use for the purchase of a home. Mortgages are secured by the house you're borrowing money to buy, so the house serves as collateral. If you don't pay your mortgage, the lender can foreclose and take your home. Most mortgages are paid off over a long period of time, with borrowers generally choosing either a 15-year or a 30-year repayment term.

There are different kinds of mortgages, including conventional loans, which are not insured by any government agency, and loans that are guaranteed by one of several agencies including the Federal Housing Administration (FHA), the Veterans Administration (VA), or the U.S. Department of Agriculture (USDA). Both government-guaranteed loans and conventional loans are made by private lenders, including banks, online lenders, and credit unions.

There are also conforming loans and non-conforming loans. Conforming loans fall below financing limits set by the Federal Housing Finance Agency and non-conforming loans -- known as jumbo loans -- are for higher amounts. Fannie Mae and Freddie Mac, two government-sponsored entities, buy conforming loans on the secondary mortgage market so lenders can package and sell them.

If you are new to the world of mortgages, check out our beginner's guide to home loans.

Top features of the best mortgage lenders

Borrowers have many choices of mortgage lenders and should shop around to find the right one for their particular situation. Here are some of the key features borrowers should look for when finding the top mortgage lenders:

  • The types of loans the lender offers: Borrowers who need or want a government-backed loan will need to find a lender offering FHA, USDA, or VA loans. Likewise, those who need a jumbo loan will need a lender offering non-conforming loans.
  • The interest rate on the loan: The best home loans come with low interest rates. A higher rate means higher monthly mortgage payments and a higher total loan repayment cost.
  • Costs and fees associated with the loan: When looking for the best mortgage companies, pay attention to whether the lenders charge origination fees, application fees, document preparation fees, and other costs associated with applying. While there are always some costs involved when getting a loan, the lender you choose will ideally help you keep closing costs as low as possible.
  • The lender's qualifying requirements: While there are certain federal guidelines lenders have to work within if they're making government-backed loans or conforming loans, requirements for loan approval can vary considerably from one lender to another. Some lenders have stricter requirements for minimum credit score, amount of debt relative to income, and employment history.
  • The down payment required: For conventional loans, borrowers are typically required to put 20% down or pay private mortgage insurance (PMI) premiums. Private mortgage insurance protects lenders in case of foreclosure but it costs borrowers money. Some lenders offer special programs where PMI can be waived. And even with PMI, lenders have different minimum down payment requirements. Mortgage insurance is required with government-backed USDA and FHA loans, but not VA loans.
  • The time to approval: Some lenders are able to complete the approval process and get to closing much faster than others. If you have a short deadline to buy a new home, you may want to prioritize a lender that promises a quick closing.

A lender's reputation for customer service does matter a little as you want the application process to be easy and pleasant. But be aware that many lenders resell mortgages so there is a chance the original lender you borrow from will not remain your loan servicer for long.

How to calculate how much house you can afford

Use our mortgage calculator to estimate your monthly payment, including principal, interest, insurance, taxes, and PMI.

How are mortgage rates determined?

Borrowers applying for a mortgage loan should compare rates and terms among multiple lenders because mortgage rates can vary substantially. Each individual lender uses both economic factors and the borrower's credentials to set rates.

Mortgage rates are affected by the federal funds rate, which is the rate set by the Federal Reserve (the U.S. central bank). Banks use the federal funds rate when making overnight loans to other banks. Rates are also affected by what investors are willing to pay for mortgage-backed securities, which are groups of mortgage loans put together by institutional investors who buy loans on the secondary mortgage market. Because investors looking for fixed-income investments tend to compare mortgage-backed securities with 10-year Treasury yields, the Treasury yield affects rates as well.

The financial credentials of each individual borrower also have an impact on what rates will be available. Lenders price loans based on the perceived level of risk that a particular borrower won't pay back their debt. Some of the factors lenders consider when setting rates for individual borrowers include:

  • The borrower's credit score: A higher credit score will result in a lower loan interest rate with the best mortgage companies.
  • The borrower's debt-to-income ratio: This is the total amount of debt payments (including the mortgage payment) vs. the borrower's income. The lower the amount of debt the borrower has relative to income, the less risk is presented to the lender and the lower the interest rate on the mortgage loan.
  • The size of the borrower's down payment: A larger down payment reduces the risk to the lender. This is both because borrowers themselves have money at stake and if the lender has to foreclose, the larger down payment reduces the chance the home will sell for less than the outstanding loan balance.
  • The loan term: Loans with shorter repayment terms come with lower interest rates. While 30-year mortgages are very popular because they provide lower payments due to the long repayment timeline, a 15-year loan would typically come with a lower interest rate.
  • The borrower's employment history: A borrower with a stable employment history presents less risk to a lender as there's a reduced chance the borrower will suffer a decline in the income they're using to repay the debt.

While you cannot change the broad macroeconomic factors that affect your rate, you can take steps to lower it by improving your credit, saving for a larger down payment, and choosing a mortgage with a shorter loan repayment term.

Fixed-rate vs. adjustable-rate mortgages

Some mortgage loans have fixed rates while others have adjustable rates. Adjustable-rate mortgages are called ARMs.

Loans with fixed rates have a rate that doesn't change during the entire term of the loan. You will know your monthly payment up front and you will know the total loan cost at the time when you borrow.

ARMs, on the other hand, have a rate that can adjust periodically. Most start with a rate that is fixed for several years and then adjusts on a set schedule. ARMs are named based on the length of the initial fixed rate and the frequency with which rates adjust. For example, a 3/1 ARM will have a fixed rate for the first three years and it can then adjust once a year thereafter. A 5/1 ARM would have a rate fixed for the first five years and it could then adjust once annually.

Adjustable-rate mortgages are attractive to borrowers because the rate generally starts lower than on a fixed-rate mortgage. Monthly payments are more affordable and interest costs are lower, making it easier for borrowers to qualify if they're stretching to purchase a home. But there is a risk.

ARMs are tied to a financial index and the rates could go up, resulting in larger monthly payments. In some cases, those payments could become unaffordable. While borrowers often plan to refinance their mortgage or sell before that happens, this isn't always possible if the real estate market declines in value.

When you get an adjustable-rate mortgage, it's important to read the disclosures carefully to determine how high your payment could go. If that amount is not affordable to you, make sure you realize the risk involved in taking out an ARM.

Why your credit score matters when buying a house

Your credit score is one of the most important factors that determines which mortgage lenders will give you a loan and how much that loan will cost. While you have different credit scores, most are on a scale of 300 to 850 with scores below 669 considered fair or poor; scores between 670 and 739 considered good, and scores between 740 and 850 classified as very good or excellent.

There's no minimum credit score required for VA mortgages insured by the Veteran's Administration, as lenders are instructed to take a borrower's full financial profile into account. But even with VA loans, some mortgage lenders may still impose their own credit score minimum.

All other types of mortgage loans come with minimum credit score requirements. Even loans backed by the Federal Housing Administration require you to have a score of at least 580 if you want to make a 3.5% down payment. If you're able to make a 10% down payment, the minimum score could be as low as 500.

The minimum credit score for a home loan with a conventional lender can vary but in general you will need a score of at least 620 if you have a hefty down payment and a low debt-to-income ratio. Most lenders require even higher scores and you'll need a score of at least 740 to qualify for a loan at the most competitive rate.

Because your credit score has a huge impact on your interest rate, borrowers with good credit will generally pay much less for their mortgage than those with lower scores. For example, the table below shows the current rates you can expect as of April 2020 for a 30-year fixed mortgage on a $300,000 loan with different credit scores as well as the amount of your monthly payment and the total interest you'd pay.

FICO® Score APR Monthly Payment Total Interest Paid
620-639 4.611% $1,540 $254,366
640-659 4.065% $1,444 $219,664
660-679 3.635% $1,370 $193,143
680-699 3.421% $1,334 $180,218
700-759 3.244% $1,305 $169,667
760-850 3.022% $1,268 $156,615
Source: MyFICO®.com

As you can see, a higher credit score could save you several hundred dollars per month and almost $100,000 in interest costs over the life of the loan.

FAQs

  • To get the best mortgage rates, you should increase your credit score, pay down your debt to improve your debt-to-income ratio, choose a shorter loan term, and make a larger down payment.

  • Banks are one type of mortgage lender, but there are also non-bank lenders whose sole business purpose is offering mortgage loans. There are pros and cons to both banks and mortgage lenders.

    Banks often have stricter qualifying requirements, may charge more fees because of added compliance requirements, and may take longer to get to closing. But you may also be eligible for relationship discounts if you make use of their other banking services. For example, bank customers may get a discount on closing costs or a reduction in their interest rate if they set up mortgage autopay linked to their checking account with the same bank.

    Dedicated mortgage lenders, on the other hand, often make it faster and easier to qualify for a loan. However, many do not have a physical branch where you can go for customer service. And there's also a greater chance the mortgage lender will sell your loan to another loan servicer after you close on it.

  • Ideally, you should make a 20% down payment. This would enable you to qualify for a conventional loan with fewer fees and no private mortgage insurance required. Putting 20% down also reduces the likelihood you'll end up owing more than your home is worth, so it can be easier to get approved for a loan. You may also be charged a lower interest rate if you put more money down.

    If you cannot afford a 20% down payment, some conventional lenders allow you to put down as little as 3%. While it is sometimes possible to find special programs that waive private mortgage insurance, it is almost always required on conventional loans when you put less than 20% down.

    Government-backed loans also allow for lower down payments. The VA doesn't require any minimum down payment unless the home is worth less than you're buying it for and there's no private mortgage insurance required. However, there is an up front mortgage loan fee equal to a percentage of the borrowed amount. FHA loans enable you to buy with as little as 3.5% down, but you then pay mortgage insurance for either 11 years or the life of the loan.

Lender Rating Best For
Better.com Graphic of Better.com
Rating image, 5.0 out of 5 stars.
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Best For: No lender fees and online application
Rocket Mortgage Graphic of Rocket Mortgage
Rating image, 5.0 out of 5 stars.
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Best For: Streamlined online application
Veterans United Graphic of Veterans United
Rating image, 4.5 out of 5 stars.
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Best For: VA loans
Axos Bank Mortgage Graphic of Axos Bank Mortgage
Rating image, 5.0 out of 5 stars.
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Best For: Diverse terms and loan products
New American Funding Graphic of New American Funding
Rating image, 4.5 out of 5 stars.
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Best For: Diverse loan types and terms
CitiMortgage Graphic of CitiMortgage
Rating image, 4.5 out of 5 stars.
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Best For: First-time homebuyers
Bank of America Mortgage Graphic of Bank of America Mortgage
Rating image, 5.0 out of 5 stars.
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Best For: Diverse loan options
Navy Federal Credit Union Mortgage Graphic of Navy Federal Credit Union Mortgage
Rating image, 4.5 out of 5 stars.
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Best For: No mortgage insurance option
SoFi Mortgage Graphic of SoFi Mortgage
Rating image, 4.5 out of 5 stars.
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Best For: High loan amounts and relationship discounts
PNC Bank Mortgage Graphic of PNC Bank Mortgage
Rating image, 4.5 out of 5 stars.
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Best For: Diverse loan offerings
PennyMac Mortgage Graphic of PennyMac Mortgage
Rating image, 4.5 out of 5 stars.
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. = Best
= Excellent
= Good
= Fair
= Poor
Best For: Low rate guarantee

About the Author

Christy Bieber
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Christy Bieber is a full-time personal finance and legal writer with more than a decade of experience. She has a JD from UCLA as well as a degree in English, Media and Communications with a Certificate in Business Management from the University of Rochester. In addition to writing for The Ascent and The Motley Fool, her work has also been featured regularly on MSN Money, CNBC, and USA Today. She also ghost writes textbooks, serves as a subject matter expert for online course design, and is a former college instructor.

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