8 Best Texas Mortgage Lenders in 2022
If you’re looking to buy or refinance a home in Texas in 2021, NerdWallet can help you choose from some of the best mortgage lenders in the state.
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Texas mortgage lenders vary by the types of home loans they offer, their credit score and other requirements for borrowers, and how they serve customers. Shopping around is important to find a lender that offers the services and products you need at the lowest rates. To help you find the best mortgage lender in Texas for your situation, NerdWallet has reviewed and picked some of the best lenders in a variety of categories.
- 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.
- 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.
8 Best Texas Mortgage Lenders in 2022
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Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | Learn more |
|---|---|---|---|---|
620 | 3% | Learn more at Rate | ||
620 | 1% | Learn more at Rocket Mortgage, LLC | ||
 PrimeLending: NMLS#13649 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
 Alterra: NMLS#133739 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
 Carrington: NMLS#2600 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
 Wells Fargo: NMLS#399801 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
 Bank of America: NMLS#399802 LEARN MORE on NerdWallet | 660 | 5% | LEARN MORE on NerdWallet | |
 Chase: NMLS#399798 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet |
- Fully underwritten mortgage approval in as little as one day for qualified borrowers.
- Generous selection of loans, including government-backed, interest-only, jumbo and renovation.
- Advertises a HELOC that can be funded in as few as five business days.
- Origination fees are on the high side, according to the latest federal data.
- HELOC requires immediate, full withdrawal of funds.
Rocket Mortgage, LLC: NMLS#3030
620
1%
- Reported average time to close is 15 days faster than industry average.
- FHA and VA loans make up 40% of Rocket Mortgage’s total loan volume.
- Borrowers can apply via mobile app.
- Origination fees are on the higher end, according to the latest federal data.
- No construction or renovation loans.
- Physical branches are only available in Detroit, Cleveland, and Phoenix.
PrimeLending: NMLS#13649
620
3%
- Offers closing cost assistance.
- Wide variety of loan types, including non-QM loans.
- Mortgages are available for manufactured homes, including 3D-printed houses.
- Loans are not available in all states.
- Rates are not posted online.
- Does not have a mobile app.
- Offers government loans, down payment assistance loans and ITIN loans, among other options.
- Has branch locations across the country for borrowers who prefer an in-person experience.
- Site has a live chat feature.
- Mortgage rates and origination fees are higher than the majority of lenders.
- Borrowers must contact the lender for specific information about their loan offerings and interest rates.
- Does not offer home equity products or adjustable-rate mortgages.
- Considers borrowers with bad credit, foreclosure or bankruptcy.
- Accepts self-employed borrowers.
- Mortgage origination fees are on the low side, according to the latest federal data.
- Interest rates are on the high side, according to the latest federal data.
- Doesn’t post interest rates online.
- No online chat for customer service.
Wells Fargo: NMLS#399801
620
3%
- Sample rates are shown for various loan products, along with the type of borrower and loan that would get them.
- Offers generous down payment and closing cost assistance programs for qualified borrowers.
- Market leader in number of jumbo loans and refinances originated, according to the latest federal data.
- Rate-and-term refinance interest rates offered are lower than average, according to the latest federal data.
- Home loans business is broadly focused on existing bank customers.
- Doesn’t offer specialty home loans or equity borrowing (home equity loans or HELOC).
- Scandals and government actions have damaged consumer trust in recent years.
Bank of America: NMLS#399802
660
5%
National
- Interest rates are lower than most lenders, according to the latest federal data.
- Offers up to $10,000 in down payment assistance to qualified borrowers.
- Banking customers can get discounted interest rates or fees.
- Mortgage origination fees are on the high side, according to the latest federal data.
- Rate estimator tool doesn’t personalize by credit score.
- Fined $12 million for reporting inaccurate mortgage applicant info to the federal government.
- Carries a wide variety of mortgage types and products, including mortgages with down payments as low as 3%.
- Offers low rates compared with other lenders, according to the latest federal data.
- Offers a customizable mortgage calculator for personalized rate and payment estimates.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
- Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.
- You have to speak with a home loan adviser to complete the application.
- Home equity lines of credit (HELOC) are currently unavailable.
Best Texas mortgage lenders by city
We dug even deeper to find great lenders in major Texas cities. See our picks for best mortgage lenders in your area.
More from NerdWallet
Last updated on January 6, 2022
Frequently asked questions
- Which Texas mortgage lender is best?
The best lender depends on your needs. Lenders vary by their borrower qualification requirements as well as the types of home loans they offer. Some lenders offer face-to-face service while others provide a completely online application experience. To find the best Texas mortgage lender, look for companies that offer the type of loan and services you need, and compare their rates and fees.
- Is it better to get a mortgage from a bank or from a mortgage company?
One isn't necessarily better than another, so don't confine your search to one type of lender. Consider banks, credit unions and mortgage companies that offer the products and services you need, and then compare rates to find the best lender.
- How do I get down payment or closing cost assistance?
The Texas Department of Housing and Community Affairs, or TDHCA, offers programs that provide down payment and closing cost assistance. To qualify for one of these Texas home buyer programs, you'll need to work with a TDHCA-approved lender.
- Which lender offers the lowest home loan rates?
Mortgage rates fluctuate day by day, and vary by lender. Rates also vary according to other factors, including the size of your loan and down payment, credit score and debt-to-income ratio. Keep in mind that the rate you're offered may differ from the average rates a lender posts on its website.
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
NerdWallet's Best Texas Mortgage Lenders in 2022
- Rate: Best for online experience
- Rocket Mortgage, LLC: Best for first-time home buyers and online experience
- PrimeLending: Best for first-time home buyers
- Alterra: Best for bad credit
- Carrington: Best for bad credit
- Wells Fargo: Best for face-to-face service
- Bank of America: Best for face-to-face service
- Chase: Best for refinancing
