11 Best Conventional Mortgage Lenders of 2025
See NerdWallet's top picks for the best conventional mortgage lenders, many of which offer 97% mortgage financing.
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For home buyers with strong credit, solid income and at least a 3% down payment, a conventional mortgage may be the perfect fit. But which lender should you choose?
To help you shop, NerdWallet has picked some of the best conventional mortgage lenders in a variety of categories.
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.
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.
11 Best Conventional Mortgage Lenders of 2025
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Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | Learn more |
|---|---|---|---|---|
620 | 3% | |||
 Better: NMLS#330511 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
 PNC Bank: NMLS#446303 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
 Flagstar: NMLS#417490 Compare More Lenders on NerdWallet | N/A | 5% | Compare More Lenders on NerdWallet | |
 Navy Federal: NMLS#399807 Compare More Lenders on NerdWallet | N/A | 0% | Compare More Lenders on NerdWallet | |
 Pennymac: NMLS#35953 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet |
Qualifying for a conventional mortgage
Conventional mortgages typically conform to loan limits set by the Federal Housing Finance Agency, and aren’t guaranteed or insured by the federal government.
Qualifying for a conventional loan is generally harder than qualifying for FHA loans and other government home loans. In addition to a solid income and money for a down payment, you'll likely need a strong credit history.
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Last updated on February 3, 2025
Frequently asked questions
Some lenders offer conventional mortgages with a down payment of as little as 3%. You’ll typically need to put down at least 20% to avoid private mortgage insurance, however.
The credit score needed to buy a house with a conventional loan varies by lender, but 620 is typically the minimum. You’ll need a score of around 740 to get the best rates.
Unlike conventional mortgages, FHA loans are guaranteed by the Federal Housing Administration. FHA mortgages have more relaxed income and credit score requirements than conventional mortgages, but they typically require a 3.5% down payment and mandatory mortgage insurance for the life of the loan. Compare FHA vs. conventional home loans to see which one fits your needs.
The best conventional mortgage lenders offer the right combination of competitive rates, attractive loan terms and low closing costs. Finding a lender that excels at customer service and your preferred style of communication is also essential.
Methodology
The star ratings on this page reflect each lender's overall star ratings. Read more about how we determine those ratings.
The lenders on this page are chosen using this methodology:
NerdWallet reviewed more than 40 mortgage lenders, including the majority of the largest U.S. mortgage lenders by annual loan volume (measured among lenders with at least 1% market share), lenders with significant online search volume and those that specialize in serving various audiences across the country.
For inclusion on this roundup, lenders must offer conventional mortgage and refinance loans. The highest scoring lenders according to our home loans overall methodology are featured here.
NerdWallet solicits information from reviewed lenders on a recurring basis throughout the year. All lender-provided information is verified through lender websites and interviews. We also utilized 2023 HMDA data for origination volume, origination fee, average interest rate and share-of-product data.
NerdWallet's Best Conventional Mortgage Lenders of 2025
- Rate: Best for fast preapproval
- Better: Best for digital experience
- PNC Bank: Best for first-time home buyers
- Flagstar: Best for traditional lending experience
- Navy Federal: Best for active military and veterans
- Pennymac: Best for refinancing
- U.S. Bank: Best for overall mortgage experience
- State Employees' Credit Union: Best for North Carolina borrowers
- First Federal Bank: Best for low average mortgage rates
- Network Capital: Best for fast closings
- SoFi: Best for variety of repayment terms
