Best Mortgage Lenders for First-Time Home Buyers in 2025
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If you're buying your first home, low down payment loan options, first-time home buyer programs and top-notch customer care can make getting a mortgage easier. To help you find the right lender, NerdWallet has researched and selected the best mortgage lenders for first-time home buyers.
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.
Our 2025 Best-Of Award Winner
NMLS#3030
Best Mortgage Lenders for First-Time Home Buyers in 2025
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Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | Learn more |
|---|---|---|---|---|
620 | 1% | Learn more at Rocket Mortgage, LLC | ||
620 | 0% | |||
620 | 3% | |||
N/A | 3.5% | Learn more at First Federal Bank | ||
620 | 3% | Learn more at Northpointe | ||
 Truist: NMLS#399803 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
 CrossCountry Mortgage: NMLS#3029 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
 Flagstar: NMLS#417490 Compare More Lenders on NerdWallet | 580 | 3.5% | Compare More Lenders on NerdWallet | |
 PNC Bank: NMLS#446303 Compare More Lenders on NerdWallet | 620 | 5% | Compare More Lenders on NerdWallet | |
 Wells Fargo: NMLS#399801 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet | |
 Guild Mortgage: NMLS#3274 Compare More Lenders on NerdWallet | N/A | 3% | Compare More Lenders on NerdWallet | |
 U.S. Bank: NMLS#402761 Compare More Lenders on NerdWallet | N/A | N/A | Compare More Lenders on NerdWallet | |
 PrimeLending: NMLS#13649 Compare More Lenders on NerdWallet | 620 | 3% | Compare More Lenders on NerdWallet |
Explore all of our lender picks by category
How do I choose a mortgage lender?
Once you know what type of mortgage you want, finding the right lender may be easier than you expect. Don't want to do the research? A mortgage broker can give you a personalized list of options.
Applying for mortgage preapproval with multiple lenders can give you an idea of how much you could borrow, what interest rate you'd get and what it's like to work with each lender. Most lenders charge a fee to apply for a mortgage, but preapprovals can help narrow down your options for free.
To see actual interest rates and fees, you'll need to apply for a mortgage with more than one lender. Once you apply, you'll receive a Loan Estimate within three business days. This standard form makes it easy to compare lenders side by side.
How much do I need to save for a down payment?
The amount you need for a down payment depends on the type of home loan you choose. Some conventional loans offer down payments as low as 3%, but a down payment below 20% requires paying private mortgage insurance. FHA loan down payments can be as low as 3.5%, depending on your credit score. VA loans and USDA loans don't require down payments.
Can I get help making a down payment?
As a first-time home buyer, you may qualify for down payment assistance or other first-time home buyer benefits. These programs are usually run by state housing authorities, though some cities and counties offer them as well. You may need to meet income or residency requirements. Many programs also require a first-time home buyer class.
More from NerdWallet
Last updated on April 2, 2025
Frequently asked questions
The best mortgage for you as a first-time home buyer is the loan you're qualified for that meets your needs. It depends on a number of factors, including your credit score.
If your score is at least 580, an FHA loan is your best option. With a credit score of 620 or higher, a conventional loan could be a better choice.
If you have a military connection, you might qualify for a VA loan. The Department of Veterans Affairs doesn't require a minimum credit score, though lenders can set their own requirements.
There are many grants, special loans and down payment assistance programs for borrowers looking to buy their first home. Check out our list of first-time home buyer programs by state to get started.
The easiest loan to qualify for is an FHA loan, because FHA requirements allow lower credit scores and are more flexible on debt-to-income ratios. However, if you have strong credit, a conventional loan may offer a lower down payment.
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 50 mortgage lenders, including the majority of the largest U.S. mortgage lenders by annual loan volume (measured among lenders with at least a 1% market share), lenders with significant online search volume and those that specialize in serving various audiences across the country.
All reviewed mortgage lenders that offer programs for first-time home buyers were evaluated based on (1) the portion of their business dedicated to FHA and VA lending, (2) their ability to offer conventional loans with a down payment as low as 3%, (3) their origination fees, (4) their proprietary first-time home buyer loans or assistance (e.g. grants or loans to cover down payment and closing costs), (5) mortgage rate transparency, and (6) the ease of their online application. The highest scoring lenders appear on this page.
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 2022 HMDA data for origination volume, origination fee, average interest rate and share-of-product data.
NerdWallet's Best Mortgage Lenders for First-Time Home Buyers in 2025
- Rocket Mortgage, LLC: Best for first-time home buyers overall
- NBKC: Best for VA loans
- Rate: Best for lower credit scores
- First Federal Bank: Best for government loans
- Northpointe: Best for first-time home buyers overall
- Truist: Best for variety of loan types
- CrossCountry Mortgage: Best for fast closing
- Flagstar: Best for FHA loans
- PNC Bank: Best for jumbo loans
- Wells Fargo: Best for Wells Fargo banking customers
- Guild Mortgage: Best for borrower assistance programs
- U.S. Bank: Best for home loans overall
- PrimeLending: Best for construction loans
