2020's Mortgage
Lender Winners
Whether you're a first-time home buyer or an owner looking to refinance, 2020's best mortgage lenders – some of which are our partners – can help you make the right money move.
Best-Of Awards > Mortgages
Best Mortgage Lender for Refinancing (tie)
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at Better
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at Better
Min. Credit Score
620
Min. down payment
3%
Pros
- Borrowers can apply, lock in a rate and receive a commitment letter within one day.
- Offers both HELOCs and home equity loans with a high borrowing limit of 90% CLTV.
- Offers mortgages for manufactured homes, as well as financing for self-employed borrowers.
Cons
- No mobile app; customer service is by email or phone only.
- Borrower must provide contact information to see customized rates.
- Does not offer renovation or construction loans.
Pros
- Borrowers can apply, lock in a rate and receive a commitment letter within one day.
- Offers both HELOCs and home equity loans with a high borrowing limit of 90% CLTV.
- Offers mortgages for manufactured homes, as well as financing for self-employed borrowers.
Cons
- No mobile app; customer service is by email or phone only.
- Borrower must provide contact information to see customized rates.
- Does not offer renovation or construction loans.
Min. Credit Score
620
Min. down payment
3%
Pros
- Borrowers can apply, lock in a rate and receive a commitment letter within one day.
- Offers both HELOCs and home equity loans with a high borrowing limit of 90% CLTV.
- Offers mortgages for manufactured homes, as well as financing for self-employed borrowers.
Cons
- No mobile app; customer service is by email or phone only.
- Borrower must provide contact information to see customized rates.
- Does not offer renovation or construction loans.
Pros
- Borrowers can apply, lock in a rate and receive a commitment letter within one day.
- Offers both HELOCs and home equity loans with a high borrowing limit of 90% CLTV.
- Offers mortgages for manufactured homes, as well as financing for self-employed borrowers.
Cons
- No mobile app; customer service is by email or phone only.
- Borrower must provide contact information to see customized rates.
- Does not offer renovation or construction loans.
Min. Credit Score
620
Min. down payment
3%
Pros
- Borrowers can apply, lock in a rate and receive a commitment letter within one day.
- Offers both HELOCs and home equity loans with a high borrowing limit of 90% CLTV.
- Offers mortgages for manufactured homes, as well as financing for self-employed borrowers.
Cons
- No mobile app; customer service is by email or phone only.
- Borrower must provide contact information to see customized rates.
- Does not offer renovation or construction loans.
Pros
- Borrowers can apply, lock in a rate and receive a commitment letter within one day.
- Offers both HELOCs and home equity loans with a high borrowing limit of 90% CLTV.
- Offers mortgages for manufactured homes, as well as financing for self-employed borrowers.
Cons
- No mobile app; customer service is by email or phone only.
- Borrower must provide contact information to see customized rates.
- Does not offer renovation or construction loans.
Why this LENDER made the list
Better.com offers customized rates for all loan products and a fully digital refinance process, all without charging origination fees.
Read our methodologyBest Mortgage Lender for Refinancing (tie)
Min. Credit Score
620
Min. down payment
3%
Pros
- Rates and fees have been lower than most lenders, according to the latest federal data.
Cons
- It’s unclear if the lender is currently processing new loans.
Pros
- Rates and fees have been lower than most lenders, according to the latest federal data.
Cons
- It’s unclear if the lender is currently processing new loans.
Min. Credit Score
620
Min. down payment
3%
Pros
- Rates and fees have been lower than most lenders, according to the latest federal data.
Cons
- It’s unclear if the lender is currently processing new loans.
Pros
- Rates and fees have been lower than most lenders, according to the latest federal data.
Cons
- It’s unclear if the lender is currently processing new loans.
Min. Credit Score
620
Min. down payment
3%
Pros
- Rates and fees have been lower than most lenders, according to the latest federal data.
Cons
- It’s unclear if the lender is currently processing new loans.
Pros
- Rates and fees have been lower than most lenders, according to the latest federal data.
Cons
- It’s unclear if the lender is currently processing new loans.
Why this LENDER made the list
LenderFi’s website makes it easy to see customized rates and apply for multiple refinance loan products, and it charges low origination fees.
Read our methodologyBest Mortgage Lender for Online Loans (tie)
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at NBKC
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at NBKC
Min. Credit Score
620
Min. down payment
3%
Pros
- Mortgage rates are on the low side compared to other lenders, according to the latest federal data.
- VA loans represent more than a quarter of purchase volume, a larger share than many lenders NerdWallet reviews.
- Offers a variety of loan types for purchase and refinance, including fixed- and adjustable-rate loans and government options
Cons
- HELOCs and no-down-payment loans are available only in the Kansas City metro area.
- Mobile app focuses on online banking, not mortgages.
- You’ll need to share contact information to see customized mortgage rates.
Pros
- Mortgage rates are on the low side compared to other lenders, according to the latest federal data.
- VA loans represent more than a quarter of purchase volume, a larger share than many lenders NerdWallet reviews.
- Offers a variety of loan types for purchase and refinance, including fixed- and adjustable-rate loans and government options
Cons
- HELOCs and no-down-payment loans are available only in the Kansas City metro area.
- Mobile app focuses on online banking, not mortgages.
- You’ll need to share contact information to see customized mortgage rates.
Min. Credit Score
620
Min. down payment
3%
Pros
- Mortgage rates are on the low side compared to other lenders, according to the latest federal data.
- VA loans represent more than a quarter of purchase volume, a larger share than many lenders NerdWallet reviews.
- Offers a variety of loan types for purchase and refinance, including fixed- and adjustable-rate loans and government options
Cons
- HELOCs and no-down-payment loans are available only in the Kansas City metro area.
- Mobile app focuses on online banking, not mortgages.
- You’ll need to share contact information to see customized mortgage rates.
Pros
- Mortgage rates are on the low side compared to other lenders, according to the latest federal data.
- VA loans represent more than a quarter of purchase volume, a larger share than many lenders NerdWallet reviews.
- Offers a variety of loan types for purchase and refinance, including fixed- and adjustable-rate loans and government options
Cons
- HELOCs and no-down-payment loans are available only in the Kansas City metro area.
- Mobile app focuses on online banking, not mortgages.
- You’ll need to share contact information to see customized mortgage rates.
Min. Credit Score
620
Min. down payment
3%
Pros
- Mortgage rates are on the low side compared to other lenders, according to the latest federal data.
- VA loans represent more than a quarter of purchase volume, a larger share than many lenders NerdWallet reviews.
- Offers a variety of loan types for purchase and refinance, including fixed- and adjustable-rate loans and government options
Cons
- HELOCs and no-down-payment loans are available only in the Kansas City metro area.
- Mobile app focuses on online banking, not mortgages.
- You’ll need to share contact information to see customized mortgage rates.
Pros
- Mortgage rates are on the low side compared to other lenders, according to the latest federal data.
- VA loans represent more than a quarter of purchase volume, a larger share than many lenders NerdWallet reviews.
- Offers a variety of loan types for purchase and refinance, including fixed- and adjustable-rate loans and government options
Cons
- HELOCs and no-down-payment loans are available only in the Kansas City metro area.
- Mobile app focuses on online banking, not mortgages.
- You’ll need to share contact information to see customized mortgage rates.
Why this LENDER made the list
NBKC Bank combines online preapproval with access to real loan officers, provides customized rate quotes instantly on its website and charges low fees.
Read our methodologyBest Mortgage Lender for Online Loans (tie)
Min. Credit Score
660
Min. down payment
5%
National / regional
National
Pros
- 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.
Cons
- 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.
Pros
- 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.
Cons
- 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.
Min. Credit Score
660
Min. down payment
5%
National / regional
National
Pros
- 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.
Cons
- 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.
Pros
- 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.
Cons
- 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.
Min. Credit Score
660
Min. down payment
5%
National / regional
National
Pros
- 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.
Cons
- 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.
Pros
- 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.
Cons
- 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.
Why this LENDER made the list
Bank of America offers robust digital tools, online preapproval, customized rate quotes and personal assistance via online appointment scheduling.
Read our methodologyBest Mortgage Lender for Jumbo Loans (tie)
Min. Credit Score
620
Min. down payment
3%
Pros
- Low-down-payment loan options include FHA, VA, USDA and PNC Community Loan.
- Jumbo loans available with minimum down payments of 5%.
- Customizable mortgage rates are posted online.
Cons
- Average mortgage rates are on the high side, according to the latest federal data.
- In-person service is not available in every state.
- You’ll have to supply personal data or account info to get answers by phone.
Pros
- Low-down-payment loan options include FHA, VA, USDA and PNC Community Loan.
- Jumbo loans available with minimum down payments of 5%.
- Customizable mortgage rates are posted online.
Cons
- Average mortgage rates are on the high side, according to the latest federal data.
- In-person service is not available in every state.
- You’ll have to supply personal data or account info to get answers by phone.
Min. Credit Score
620
Min. down payment
3%
Pros
- Low-down-payment loan options include FHA, VA, USDA and PNC Community Loan.
- Jumbo loans available with minimum down payments of 5%.
- Customizable mortgage rates are posted online.
Cons
- Average mortgage rates are on the high side, according to the latest federal data.
- In-person service is not available in every state.
- You’ll have to supply personal data or account info to get answers by phone.
Pros
- Low-down-payment loan options include FHA, VA, USDA and PNC Community Loan.
- Jumbo loans available with minimum down payments of 5%.
- Customizable mortgage rates are posted online.
Cons
- Average mortgage rates are on the high side, according to the latest federal data.
- In-person service is not available in every state.
- You’ll have to supply personal data or account info to get answers by phone.
Min. Credit Score
620
Min. down payment
3%
Pros
- Low-down-payment loan options include FHA, VA, USDA and PNC Community Loan.
- Jumbo loans available with minimum down payments of 5%.
- Customizable mortgage rates are posted online.
Cons
- Average mortgage rates are on the high side, according to the latest federal data.
- In-person service is not available in every state.
- You’ll have to supply personal data or account info to get answers by phone.
Pros
- Low-down-payment loan options include FHA, VA, USDA and PNC Community Loan.
- Jumbo loans available with minimum down payments of 5%.
- Customizable mortgage rates are posted online.
Cons
- Average mortgage rates are on the high side, according to the latest federal data.
- In-person service is not available in every state.
- You’ll have to supply personal data or account info to get answers by phone.
Why this LENDER made the list
PNC offers jumbo financing for a variety of property types, engages in asset-based financing for qualified borrowers and charges low origination fees.
Read our methodologyBest Mortgage Lender for Jumbo Loans (tie)
National / regional
National
Min. down payment
3%
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
National / regional
National
Min. down payment
3%
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
National / regional
National
Min. down payment
3%
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
Why this LENDER made the list
Citibank originates a high volume of jumbo loans, allows down payments under 20%, has strong online capabilities and charges low origination fees.
Read our methodologyBest Mortgage Lender for VA Loans (tie)
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at Veterans United
Learn More
at Veterans United
Min. Credit Score
620
Min. down payment
3%
Pros
- 24/7 customer service line supports servicemembers stationed internationally.
- Niche VA products, including refinances, EEMs and VA jumbo loans.
- Maintains a network of real estate agents experienced with VA borrowers.
Cons
- No HELOCs or home equity loans.
- No renovation loans.
- No live chat feature on website.
Pros
- 24/7 customer service line supports servicemembers stationed internationally.
- Niche VA products, including refinances, EEMs and VA jumbo loans.
- Maintains a network of real estate agents experienced with VA borrowers.
Cons
- No HELOCs or home equity loans.
- No renovation loans.
- No live chat feature on website.
Min. Credit Score
620
Min. down payment
3%
Pros
- 24/7 customer service line supports servicemembers stationed internationally.
- Niche VA products, including refinances, EEMs and VA jumbo loans.
- Maintains a network of real estate agents experienced with VA borrowers.
Cons
- No HELOCs or home equity loans.
- No renovation loans.
- No live chat feature on website.
Pros
- 24/7 customer service line supports servicemembers stationed internationally.
- Niche VA products, including refinances, EEMs and VA jumbo loans.
- Maintains a network of real estate agents experienced with VA borrowers.
Cons
- No HELOCs or home equity loans.
- No renovation loans.
- No live chat feature on website.
Min. Credit Score
620
Min. down payment
3%
Pros
- 24/7 customer service line supports servicemembers stationed internationally.
- Niche VA products, including refinances, EEMs and VA jumbo loans.
- Maintains a network of real estate agents experienced with VA borrowers.
Cons
- No HELOCs or home equity loans.
- No renovation loans.
- No live chat feature on website.
Pros
- 24/7 customer service line supports servicemembers stationed internationally.
- Niche VA products, including refinances, EEMs and VA jumbo loans.
- Maintains a network of real estate agents experienced with VA borrowers.
Cons
- No HELOCs or home equity loans.
- No renovation loans.
- No live chat feature on website.
Why this LENDER made the list
Veterans United truly focuses on veterans: VA loans make up nearly 100% of its mortgage business. It also offers a digital application process and low fees.
Read our methodologyBest Mortgage Lender for VA Loans (tie)
National / regional
National
Min. down payment
0%
Pros
- Offers unique no-down-payment and no mortgage insurance loan options for military and civilian borrowers.
- 24/7 customer service supports borrowers stationed overseas.
- Has both home equity loans and lines of credit.
Cons
- Borrowers must join the credit union before applying for a mortgage.
- Does not offer FHA, renovation or construction loans.
- We sometimes waited longer than 10 minutes before connecting with a customer service representative.
Pros
- Offers unique no-down-payment and no mortgage insurance loan options for military and civilian borrowers.
- 24/7 customer service supports borrowers stationed overseas.
- Has both home equity loans and lines of credit.
Cons
- Borrowers must join the credit union before applying for a mortgage.
- Does not offer FHA, renovation or construction loans.
- We sometimes waited longer than 10 minutes before connecting with a customer service representative.
National / regional
National
Min. down payment
0%
Pros
- Offers unique no-down-payment and no mortgage insurance loan options for military and civilian borrowers.
- 24/7 customer service supports borrowers stationed overseas.
- Has both home equity loans and lines of credit.
Cons
- Borrowers must join the credit union before applying for a mortgage.
- Does not offer FHA, renovation or construction loans.
- We sometimes waited longer than 10 minutes before connecting with a customer service representative.
Pros
- Offers unique no-down-payment and no mortgage insurance loan options for military and civilian borrowers.
- 24/7 customer service supports borrowers stationed overseas.
- Has both home equity loans and lines of credit.
Cons
- Borrowers must join the credit union before applying for a mortgage.
- Does not offer FHA, renovation or construction loans.
- We sometimes waited longer than 10 minutes before connecting with a customer service representative.
National / regional
National
Min. down payment
0%
Pros
- Offers unique no-down-payment and no mortgage insurance loan options for military and civilian borrowers.
- 24/7 customer service supports borrowers stationed overseas.
- Has both home equity loans and lines of credit.
Cons
- Borrowers must join the credit union before applying for a mortgage.
- Does not offer FHA, renovation or construction loans.
- We sometimes waited longer than 10 minutes before connecting with a customer service representative.
Pros
- Offers unique no-down-payment and no mortgage insurance loan options for military and civilian borrowers.
- 24/7 customer service supports borrowers stationed overseas.
- Has both home equity loans and lines of credit.
Cons
- Borrowers must join the credit union before applying for a mortgage.
- Does not offer FHA, renovation or construction loans.
- We sometimes waited longer than 10 minutes before connecting with a customer service representative.
Why this LENDER made the list
Navy Federal Credit Union originates a high volume of VA loans and offers a variety of loan options and services tailored to veterans.
Read our methodologyBest Mortgage Lender for Home Equity Lines of Credit
National / regional
National
Min. down payment
3%
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
National / regional
National
Min. down payment
3%
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
National / regional
National
Min. down payment
3%
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
Why this LENDER made the list
Citibank provides a diverse set of home equity products, offers discounts to existing customers and charges low origination fees.
Read our methodologyBest Mortgage Lender for FHA Loans
Learn More
at Fairway Independent Mortgage
Learn More
at Fairway Independent Mortgage
Min. Credit Score
620
Min. down payment
3%
Pros
- Loan options include government-backed mortgages and physician loans.
- Offers first-time home buyer grants to buyers in eligible locations.
- Highest scoring mortgage lender for customer satisfaction, according to J.D. Power.
Cons
- Mortgage rates aren't posted online.
- Online customer service requires contact information and phone is for existing customers only.
- Home equity loans and HELOCs are not available.
- Has been penalized for redlining.
Pros
- Loan options include government-backed mortgages and physician loans.
- Offers first-time home buyer grants to buyers in eligible locations.
- Highest scoring mortgage lender for customer satisfaction, according to J.D. Power.
Cons
- Mortgage rates aren't posted online.
- Online customer service requires contact information and phone is for existing customers only.
- Home equity loans and HELOCs are not available.
- Has been penalized for redlining.
Min. Credit Score
620
Min. down payment
3%
Pros
- Loan options include government-backed mortgages and physician loans.
- Offers first-time home buyer grants to buyers in eligible locations.
- Highest scoring mortgage lender for customer satisfaction, according to J.D. Power.
Cons
- Mortgage rates aren't posted online.
- Online customer service requires contact information and phone is for existing customers only.
- Home equity loans and HELOCs are not available.
- Has been penalized for redlining.
Pros
- Loan options include government-backed mortgages and physician loans.
- Offers first-time home buyer grants to buyers in eligible locations.
- Highest scoring mortgage lender for customer satisfaction, according to J.D. Power.
Cons
- Mortgage rates aren't posted online.
- Online customer service requires contact information and phone is for existing customers only.
- Home equity loans and HELOCs are not available.
- Has been penalized for redlining.
Min. Credit Score
620
Min. down payment
3%
Pros
- Loan options include government-backed mortgages and physician loans.
- Offers first-time home buyer grants to buyers in eligible locations.
- Highest scoring mortgage lender for customer satisfaction, according to J.D. Power.
Cons
- Mortgage rates aren't posted online.
- Online customer service requires contact information and phone is for existing customers only.
- Home equity loans and HELOCs are not available.
- Has been penalized for redlining.
Pros
- Loan options include government-backed mortgages and physician loans.
- Offers first-time home buyer grants to buyers in eligible locations.
- Highest scoring mortgage lender for customer satisfaction, according to J.D. Power.
Cons
- Mortgage rates aren't posted online.
- Online customer service requires contact information and phone is for existing customers only.
- Home equity loans and HELOCs are not available.
- Has been penalized for redlining.
Why this LENDER made the list
Fairway originates a high volume of FHA loans, has strong online capabilities and flexible credit requirements, and its fees are often lower than the competition's.
Read our methodologyBest Mortgage Lender for First-Time Home Buyers (tie)
Min. Credit Score
660
Min. down payment
5%
National / regional
National
Pros
- 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.
Cons
- 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.
Pros
- 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.
Cons
- 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.
Min. Credit Score
660
Min. down payment
5%
National / regional
National
Pros
- 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.
Cons
- 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.
Pros
- 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.
Cons
- 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.
Min. Credit Score
660
Min. down payment
5%
National / regional
National
Pros
- 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.
Cons
- 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.
Pros
- 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.
Cons
- 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.
Why this LENDER made the list
Bank of America combines the low fees and online convenience first-time home buyers want with the loan programs and assistance options they often need.
Read our methodologyBest Mortgage Lender for First-Time Home Buyers (tie)
National / regional
National
Min. down payment
3%
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
National / regional
National
Min. down payment
3%
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
National / regional
National
Min. down payment
3%
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
Why this LENDER made the list
Citibank offers online tools, a variety of low-down-payment loan options and the affordable fees first-time home buyers are looking for.
Read our methodologySee the latest rates
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