Would You like a feature Interview?
All Interviews are 100% FREE of Charge
Our experts answer readers’ home-buying questions and write unbiased product reviews (here’s how we assess mortgages). In some cases, we receive a commission from our partners; however, our opinions are our own.
Not all mortgage lenders are alike. Shopping around and comparing mortgage rates from multiple lenders can help borrowers save money on their monthly mortgage payments and ensure they have a good experience buying or refinancing a home.
As you shop for a mortgage lender, consider both the rates you’re offered as well as other costs you’ll pay, including lender fees or discount points. Think about what additional features are important to you, too, such as an easy online application or other digital tools.
To make your search for the best lender easier, Personal Finance Insider has picked mortage lenders that are affordable, thrive in customer satisfaction, and offer a variety of types of mortgages to meet different borrowers’ needs.
The Best Mortgage Lenders
Compare the Best Mortgage Lenders
Northpointe Bank Home Lending
Northpointe Bank is one of Personal Finance Insider’s best mortgage lenders. It’s an excellent choice for borrowers who want a lender that has lot of mortgage options to choose from.
Details
Types of Loans Offered
Conforming, FHA, VA, USDA, jumbo, construction, land loan, renovation, doctor, professional, investment property, home equity, HELOC, non-warrantable condo, All In One, New Start, SimpleLoan, EquityBuilder, Northpointe 100%, Expanded Portfolio
Rocket Mortgage
Rocket Mortgage, formerly known as Quicken Loans, is a strong lender in general and our “best overall” pick for the best mortgage refinance lenders. It’s a great option if you’re comfortable applying online and have a good credit score.
Details
Types of Loans Offered
Conforming, jumbo, FHA, VA, ONE+, Purchase Plus, BorrowSmart Access, home equity loan
Navy Federal Credit Union Mortgage
Navy Federal Credit Union is one of our best VA mortgage lenders. It’s a good option for people affiliated with the military overall, but especially if you’re searching for a lender that’s friendly to people who aren’t in the best financial situation — namely, people with low credit scores and little money for a down payment.
Details
Types of Loans Offered
Conforming, VA, jumbo, Military Choice, Homebuyers Choice, home equity loan, HELOC
Veterans United Home Loans
Veterans United is currently the largest lender of VA loans, and it earned “best overall” in our guide to the best VA mortgage lenders. It’s a good option for several types of mortgages — though VA loans are its strongest products.
Details
Types of Loans Offered
Conforming, jumbo, FHA, USDA, VA, refinance
Fairway Independent Mortgage
Fairway Independent Mortgage is one of Personal Finance Insider’s best online mortgage lenders. It’s an overall affordable lender with a variety of mortgage options for borrowers to choose from.
Details
Types of Loans Offered
Conforming, jumbo, FHA, USDA, VA, reverse, renovation, physician
Guild Mortgage
Guild Mortgage is our favorite lender for first-time homebuyers, thanks to its flexible credit requirements and easy online process. It offers a huge range of mortgages, making it a good option for many types of borrowers.
Details
Types of Loans Offered
Conforming, jumbo, FHA, USDA, VA, reverse, renovation, manufactured, bridge, energy-efficient, doctor, 3-2-1 Home Plus, Payment Advantage, ITIN
New American Funding
New American Funding is one of our top low credit score mortgage lenders. It’s a strong mortgage lender overall, and its buydown loan and I CAN loan make it easy to customize a mortgage to your specific needs
Details
Types of Loans Offered
Conforming, jumbo, FHA, VA, USDA, reverse, buydown, non-QM, interest only, construction, I CAN mortgage, HELOC
NBKC Bank Mortgage
NBKC Bank is one of Personal Finance Insider’s best mortgage lenders. It’s a worthwhile option if you have a good credit score. It’s an especially strong choice for those looking for a convenient online experience, since it lets you easily apply online.
Details
Types of Loans Offered
Conforming, FHA, VA, construction, mortgages for pilots, HELOC
Bank of America Mortgage
Bank of America is a good mortgage lender for borrowers who have a decent credit score. It also has a few strong programs to help first-time buyers afford homeownership, including its new Community Affordable Loan Solution, which lets borrowers get into a home with zero down, no closing costs, and no minimum credit score.
Details
Types of Loans Offered
Conforming, jumbo, FHA, VA, HELOC, Community Affordable Loan Solution
Carrington Mortgage Services
Carrington Mortgage Services is our top low credit score mortgage lender, thanks to its low minimum credit score requirements and willingness to work with those who have recent negative events on their credit reports. We especially like that borrowers can get an FHA or VA mortgage from Carrington with a score as low as 500.
Details
Types of Loans Offered
Conforming, jumbo, FHA, USDA, VA, Carrington Flexible Advantage
Chase Mortgage
Chase Mortgage is one of the best mortgage lenders overall, offering products for many different types of borrowers, including low-income households. It also ranks high in customer satisfaction.
Details
Types of Loans Offered
Conforming, jumbo, FHA, VA, Chase DreaMaker
Truist Home Mortgage
We found Truist to be one of the most affordable mortgage lenders for first-time and low-income homebuyers. It offers a wide variety of affordable mortgage options for first-time homebuyers and other cash-strapped buyers, including a 0% down option with no private mortgage insurance
Details
Types of Loans Offered
Conforming, jumbo, FHA, VA, USDA, HELOC, Community Homeownership Incentive Program, doctor mortgage, construction-to-permanent mortgage
Third Federal Savings and Loan Mortgage
Third Federal Savings and Loan is a really unique mortgage lender that offers an impressive number of perks compared to other lenders we’ve reviewed.
Details
Types of Loans Offered
Conforming, Smart Rate Adjustable Mortgage, jumbo, bridge loan, HELOC, home equity loan
Why You Should Trust Us: Our Expert Panel on Choosing the Best Mortgage Lender
Insider
To help you learn more about homebuying, mortgages, and lenders, four experts weighed in:
Here’s their advice about how to evaluate mortgage lenders, and how to decide which type of mortgage is best for you. (Some text may be lightly edited for clarity.)
What factors should someone take into consideration when choosing a mortgage lender?
Anthony Park, author:
“The canned answer is to just go with the lowest rate. However, you also want to take into account who’s going to serve your loan best. Are repayments going to be easy for you? Who is most likely to be able to help you if you need to take out a HELOC or refinance later, versus somebody who’s more of a one-off type?
“They may have the lowest rates to get you involved, but they might have very, very little hand holding after the fact. I wouldn’t recommend paying an exorbitant amount more for potential services in the future, but just don’t always necessarily go with the rock-bottom lowest rate. There’s sometimes a cost with that.”
Molly Grace, Personal Finance Insider:
“Remember that you’re not just choosing a mortgage lender — you’re also building a homebuying team. To snag the home you want in this competitive market, you need a lender that can move quickly and has good communication with you and your real estate agent.
When I was looking for a house, I was able to text my loan officer (whom my real estate agent recommended) and get quick replies when I had questions or needed an updated preapproval letter for an offer. As you compare lenders, pay attention to how responsive they are, and ask your agent if they have any experience with the lenders you’re considering.”
How can someone decide between a conventional mortgage vs. a government-backed mortgage?
Molly Grace, Personal Finance Insider
“An FHA mortgage is a really helpful option for borrowers with low scores or kind of rocky credit histories. But if you have great credit, you may get a better rate and pay less for mortgage insurance on a conventional mortgage.
VA mortgages are really great deals. If you qualify for one, you should definitely go for it. You get zero down with no mortgage insurance — plus some of the best rates available.”
Julie Aragon, Aragon Lending Team:
“The most common government loan that’s widely available to almost everyone is the FHA loan. There’s a couple of reasons why somebody would go with FHA instead of conventional one. Their credit is a little on the crummy side, let’s say below 700. You can get conventional with down to a 620 score, but the mortgage insurance gets really expensive. FHA doesn’t discriminate — no matter how perfect or crappy your credit is, the mortgage insurance is the same.”
How can someone know whether they’re financially ready to buy a home?
Lauryn Williams, CFP:
“You should have funds left over after everything is said and done as it pertains to purchasing the home. So if you don’t have an emergency fund plus a down payment, you’re probably not ready to purchase a home. Another thing I think about is credit card debt. While you can be approved for a mortgage with credit card debt and student loans and very little cash on hand, you put yourself in a very risky situation.”
Molly Grace, Personal Finance Insider
“You have to be ready to dedicate a chunk of your budget to homeownership — and I don’t mean your mortgage payment. When you own your house, there’s always something that needs taking care of, especially in the first year. We got to our new house on moving day to find that the A/C was out. We paid $700 to have it fixed.”
Methodology: How We Chose the Best Mortgage Lenders for 2023
To choose the top mortgage lenders of August 2023, we looked at five main factors:
- Variety of loan types. Conventional loans, government-backed loans, and jumbo loans are some of the most common mortgages offered by lenders. We looked for lenders that offer these basics, and we also considered whether they offer more niche types of loans — such as renovation loans, home equity loans or HELOCs, or specialty loans (mortgages that are unique to a specific lender).
- Customer satisfaction. If the lender appeared in the J.D. Power 2022 Mortgage Origination Satisfaction Study, we looked at its ranking. If it wasn’t in the survey, then we read online customer reviews.
- Affordability. We looked at lenders’ minimum credit scores and down payment amounts. We also checked whether they offer government-backed loans, which can be more affordable for borrowers with less-than-perfect financial profiles. Finally, we looked at whether they have any flexible credit guidelines. This could include allowing borrowers to have recent negative events, such as bankruptcy or foreclosure, on their credit reports, or accepting non-traditional credit, like utility bills and rent payments, in lieu of a traditional credit score.
- Ethics. Almost all of our top picks received an A+ from the Better Business Bureau, which measures companies’ trustworthiness. We also researched and considered any scandals in the past three years.
- Attractive features. There are thousands of mortgage lenders in the US, and many of them will do a satisfactory job helping you purchase your next home. But the best lenders have extras that make them stand out; things like down payment assistance, rate matching, or the ability to pick the exact number of years you want your loan term to be.
See our full ratings methodology for mortgage lenders »
Mortgage Lenders Frequently Asked Questions
In terms of the volume of loans originated, Rocket Mortgage was the top lender in the US in 2021, according to Home Mortgage Disclosure Act data. However, just because a lender makes up a large share of the market doesn’t mean it’s the right lender for you.
The answer could change by the day. Take a look at Insider’s daily mortgage rate updates to see the average mortgage rates for various term lengths. If you have a good financial profile but a lender is charging you a higher rate than today’s national average, you may want to look elsewhere.
But a low interest rate isn’t the only expense that matters. Ask lenders for an itemized list of fees. Comparing fees among lenders is another way to see which is offering the best financial deal.
Yes. You should apply for preapproval with more than one mortgage lender to compare the rates and features you’re being offered to make sure you’re getting the best deal.
Some lenders charge a fee to apply for a mortgage. This fee can cost as much as $500 up front and is typically non-refundable. Not all lenders charge the same fees, which is why it’s important to not only consider the rate a lender is offering you, but the overall cost as well.
The most reliable way to find the best mortgage lender is to pick out a few different lenders that offer loans and features you’re looking for and get preapproved with each of them. That way, you can compare rates and fees and get a sense of which lender you’d prefer to work with.
Many mortgage lenders like to advertise that they have the fastest closing times, but how quickly you get through the process with any given lender really depends on the details of your loan, including the type of mortgage you’re getting. If being quick is important to you, look for lenders that are known for having good, responsive customer service, and prepare all your documentation ahead of time so you don’t hold up the process.
To get a better rate, aim to have a credit score of at least 700 and a debt-to-income ratio of 36% or less. Having a larger down payment can also help you snag a lower rate.
Mortgage lenders specialize in lending. Banks focus on several areas, including personal banking, lending, and investments. There isn’t a clear better choice. Consider whether you want to work with a bank you already do business with, or if you prefer to work with a mortgage lender that has an easy online process.
Best Overall
Northpointe Bank Home Lending
Northpointe Bank is an affordable lender with good online customer reviews and lots of features to suit the needs of many different types of borrowers.
Northpointe Bank currently has an A+ rating from the BBB. To get started with this lender, you can fill out an online form to get a quote or use its “find a loan expert” tool to apply with a loan officer near you.
Best for Customer Service
Rocket Mortgage
Rocket Mortgage ranked as the top lender for customer satisfaction in J.D. Power’s 2022 US Mortgage Origination Satisfaction Study. It offers a quick, easy online experience and has mortgages with terms as short as eight years.
Rocket Mortgage has an A+ rating from the BBB. This lender doesn’t have any physical branch locations, so you’ll complete your application process completely remotely.
Best Credit Union
Navy Federal Credit Union Mortgage
Navy Federal is a solid choice for military-affiliated homebuyers, whether they’re looking for a VA loan or another type of mortgage. Its Homebuyers Choice mortgage, for example, is a conventional mortgage with no down payment required and no mortgage insurance.
Navy Federal received a high score in customer service from J.D. Power, but didn’t rank in the annual study because it doesn’t meet certain criteria.
The BBB gives Navy Federal an NR (No Rating). You can only become a member of Navy Federal Credit Union if you or your family is affiliated with the military, you are a Department of Defense civilian personnel or contractor, or you live with a Navy Federal member.
Best for Veterans
Veterans United Home Loans
Veterans United earned a very high score in customer service on J.D. Power’s 2022 Primary Mortgage Origination Satisfaction Study, though it doesn’t qualify to rank because it doesn’t meet certain criteria.
This lender has an A+ rating from the BBB.
Best for Renovation Loans
Fairway Independent Mortgage
Fairway Independent offers a digital closing option, giving borrowers the ability to have a quick, remote closing experience. You may also be able to use non-traditional credit when applying with this lender.
Fairway Independent has an A+ rating from the BBB and ranked above average in J.D. Power’s annual study.
Best Variety of Options
Guild Mortgage
Guild Mortgage is an affordable lender thanks to its down payment assistance programs and willingness to accept non-traditional credit from borrowers with no score. It also offers a hybrid digital closing option.
Guild currently has an A+ rating from the BBB. In 2021, it earned the No. 1 spot in J.D. Power’s annual customer satisfaction study. In 2022, it dropped down in rankings a bit, but it still ranks above the industry average.
Best for Non-Traditional Credit
New American Funding
New American Funding offers a couple of unique mortgage options, including its I CAN mortgage. The I CAN mortgage lets you choose any mortgage term length from eight to 30 years. This level of customization means you can choose a term that’s long enough that your monthly payments remain affordable, but short enough that you save money on interest.
New American Funding currently has an A- rating from the BBB. This lender accepts non-traditional credit from borrowers who have no score on some of its mortgages.
Best for a Simple, Online Process
NBKC Bank Mortgage
NBKC Bank makes it easy to get a customized mortgage rate using its rate calculator. Its application process is simple, convenient, and can be completed online. It also has a unique mortgage program available for pilots.
NBKC currently has an A+ rating from the BBB
Best for Down Payment Assistance
Bank of America Mortgage
Bank of America offers borrowers up to $7,500 in closing cost assistance and up to $10,000 in down payment assistance. If you already have an account with Bank of America, you may be able to get a discount on your origination fee.
Bank of America has an A+ rating from the BBB. It ranked above average in J.D. Power’s 2022 study.
Best for Low Credit Scores
Carrington Mortgage Services
Carrington has flexible credit requirements on many of its mortgages. It offers a Carrington Flexible Advantage mortgage, which allows borrowers with credit scores as low as 550 and recent negative credit events to get a mortgage.
Carrington has a B- rating from the BBB.
Best for Low-Income Borrowers
Chase Mortgage
The Chase DreaMaker mortgage is an affordable option for lower-income borrowers, with a minimum down payment requirement of just 3% and flexible credit guidelines. Its Homebuyer Grant program also gives out up to $2,500, or $5,000 to borrowers in low-income or majority-Black areas.
Chase has a A+ rating from the BBB. It ranks No. 2 on J.D. Power’s Primary Mortgage Origination Satisfaction Study.
Best for Affordable Mortgage Options
Truist Home Mortgage
Truist is one of our most highly-rated mortgage lenders, and if offers a number of affordable mortgages.
Truist’s Community Homeownership Incentive Program is an extremely affordable mortgage for those who qualify, offering up to 100% financing in certain areas and 97% financing everywhere else with no PMI. It’s one of our favorite loans for first-time homebuyers.
Truist has an A+ rating from the BBB. It scored just above the industry average in J.D. Power’s 2022 Satisfaction Study.
Best for Low Closing Costs
Third Federal Savings and Loan Mortgage
If you’re looking to keep your out-of-pocket costs low when you get a mortgage, Third Federal Savings and Loan might be a good fit for you. This lender offers a Low Cost Mortgage option where you pay only $295 in closing costs — however, you will pay a slightly higher rate with this option.
Third Federal Savings and Loan has an A- rating from the BBB.
Other Mortgage Lenders That Didn’t Make the Cut and Why
We examined over two dozen mortgage lenders. In picking the best of the best, we looked for lenders that satisfied our methodology criteria and had offerings to meet the needs of a wide variety of borrowers. Some of the ones that didn’t make our list had weaknesses like having limited loan options or ranking low in customer satisfaction.
Here are the lenders we chose not to include:
- USAA Mortgage: This is a good option for VA loans, but it doesn’t offer other types of mortgages.
- Regions: You might like using Regions, but the bank only has branches in certain parts of the US.
- Citibank Mortgage: This bank received good customer satisfaction ratings from J.D. Power, but an F from the BBB.
- Better Mortgage: A good option if you want an easy-to-use online lender, but its loan options are relatively limited.
- SoFi Mortgage: SoFi is another worthwhile choice for conventional mortgages, but you can’t get an FHA, USDA, or VA loan.
- Paramount Bank: You might like Paramount as an online lender, but it doesn’t offer as many mortgage types as our top picks.
- Pennymac Mortgage: Pennymac offers a variety of mortgage types, but it ranks low on J.D. Power’s customer satisfaction survey.
- Flagstar Bank Mortgage: This bank has received an A+ from the BBB, but J.D. Power has ranked it pretty low on customer satisfaction.
- Mr. Cooper Mortgage: This lender offers several types of loans, but J.D. Power ranks it low for customer satisfaction.
- Alliant Credit Union Mortgage: This is a good online lender with conventional mortgages and HELOCs, but it doesn’t have FHA, USDA, or VA mortgages.
- Caliber Home Loans Mortgage: You can find lenders with better customer satisfaction ratings from J.D. Power.
- Loan Depot Mortgage: Loan Depot isn’t accredited by the BBB, and it doesn’t offer USDA loans.
- Guaranteed Rate Mortgage: You might like Guaranteed Rate, but it only has an A- from the BBB.
- Freedom Mortgage: This lender has a variety of mortgage types, but J.D. Power ranks it low for customer satisfaction.
- Wells Fargo Mortgage: Due to some recent scandals, Wells Fargo has received an F in trustworthiness from the BBB.
- US Bank Mortgage: This is a strong lender for home equity loans and HELOCs, but it ranked low on J.D. Power’s 2021 survey.
- PNC Bank Mortgage: PNC has a good range of mortgage types to choose from, but its special features aren’t as strong as many of the lenders that made our list.
What Questions Should I Ask Myself?
Before you get a mortgage, you need to make sure you’re financially prepared. These are some things you should be thinking about.
How much mortgage can I afford?
Experts typically recommend spending no more than 28% of your gross monthly income on housing expenses. Play around with a mortgage calculator to see how different home prices and down payment amounts could change your monthly payment.
Is my credit ready?
For a conforming mortgage, you’ll typically need a credit score of at least 620, a debt-to-income ratio below 50%, and a down payment of at least 3%. But the better your credit, the more likely you are to get a lower rate.
Taking the time to raise your credit score, lower your DTI, or save for a larger down payment can help you snag a lower rate and save money on interest each month.
What are current mortgage rates?
Knowing how mortgage rates are currently trending will help give you an idea of whether the rates you’re being offered by lenders are competitive. It can also help you determine how much house you can afford, since your rate will impact how much you pay each month.
What Questions Should I Ask My Lender?
As you shop around for a lender, don’t be afraid to ask a lot of questions to make sure they’re the right fit for you.
What types of mortgages do you offer?
Most lenders don’t offer every type of mortgage that’s out there. If you’re looking to get a government-backed mortgage like an FHA mortgage, make sure your lender offers them.
What type of mortgage is best for me?
If you aren’t sure which type of mortgage is best for you, have your lender walk you through the details of each option available to you. Find out how much each option would cost, both on a monthly basis and overall.
Do you charge any fees?
Mortgage lenders typically charge some sort of fee for using their services, such as an origination fee or application fee. These lender fees will be included in your closing costs, so it’s important to understand how much you’ll be paying.
Will you sell my loan?
Most lenders sell their mortgages after closing to maintain liquidity and allow them to continue lending mortgages. This process typically doesn’t impact you as the borrower.
However, lenders sometimes also sell their loans’ servicing rights. The servicer is the entity you make your monthly payments to, so if your lender sells the servicing rights to your loan, you’ll send your payments to your new servicer, not the lender you originally got the mortgage from.
Mortgage and Refinance Rates by State
Check the latest rates in your state at the links below.
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming