Best Mortgage Lender for First-Time Home Buyers
Methodology:
- 1. Must offer FHA and VA loans.
- 2. Must offer 3%-down conventional loans.
- 3. Charges low origination fees. (Lenders are scored from 1-5 with < $943.70 representing the best score.)
- 4. Targets first-time home buyers through proprietary loans or assistance (e.g., grants or loans to cover their down payment and closing costs).
- 5. Demonstrates rate transparency for consumers.
- 6. Demonstrates an ease of online application for consumers.
Tiebreaker:
- 1. Lender with the lowest origination fees.
How we picked the lenders to evaluate:
Some of the providers are NerdWallet partners, but this did not influence our selection of the winner.
How we chose the winner:
How we verified our data:
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