10 [Lighthouse] Best Mortgage Lenders of July 2025
Before you buy a home or refinance your mortgage, shop around to find the best mortgage lenders of 2020. NerdWallet has selected some of the best mortgage lenders across a variety of categories.
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
NOTE: Due to the coronavirus outbreak, obtaining a mortgage may be a bit of a challenge. Lenders are dealing with demand and staffing issues. If you can’t pay your current home loan, refer to our mortgage assistance resource. For the latest information on how to cope with financial stress during this emergency, see NerdWallet’s financial guide to COVID-19.
When you buy a home, you're in it for the long haul. You'll have a mortgage payment for years, so it makes sense to find the best mortgage lender you can. To do that, shop for offers from at least three lenders.
Compare mortgage rates and other loan terms such as fees, time to close, the availability of online application and loan tracking, and customer service offerings. Taking the time to make an informed decision can save you thousands of dollars over the life of your loan.
You should still get preapproved before you house shop, make sure your credit history is accurate, check your credit score and evaluate how much home you can afford before you take the plunge.
To help you choose a mortgage lender, NerdWallet has picked some of the best out there in a variety of categories to help you get the home loan with the best mortgage rate, term and fees.
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.
10 [Lighthouse] Best Mortgage Lenders of July 2025
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Lender | NerdWallet Rating | Min. credit score | Min. down payment | Learn more |
|---|---|---|---|---|
4.5 /5Home loans overall | 620 | 3% | ||
580 | N/A | See Offers at New American Funding | ||
 Fairway Independent Mortgage: NMLS#2289 See Offers at Fairway Independent Mortgage | 580 | 3.5% | See Offers at Fairway Independent Mortgage | |
620 | 1% | See Offers at Rocket Mortgage, LLC | ||
620 | 0% | See Offers at Veterans United | ||
620 | 3% | See Offers at NBKC | ||
620 | 3% | |||
620 | 3% | |||
660 | 5% | |||
N/A | 0% |
- Why we like itOnline-only lender Better offers a range of mortgage types and a one-stop shopping experience, though some borrowers may be turned off by the lender’s lack of chat support or a mobile app.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.
ConsRead full review- 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 we like itNew American Funding offers a large menu of loan products, as well as programs like first-time home buyer assistance, but personalized mortgage rates aren't available on its website.Pros
- Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
- Its home equity line of credit can be used for a primary residence or second home.
ConsRead full review- Average origination fees are on the high side, according to the latest federal data.
- Personalized mortgage rates are not available on the website without providing contact information.
- Why we like itGood for: borrowers who want access to a wide variety of mortgages, including renovation loans and ITIN loans.Pros
- Offers a robust suite of loan products, including ITIN loans for borrowers without Social Security numbers, renovation loans, government-backed mortgages and loans for self-employed borrowers.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
ConsRead full review- Mortgage rates for different types of loans aren't posted online.
- Origination fees are on the high side compared with other lenders, according to the latest federal data.
- Why we like itRocket Mortgage is the largest mortgage lender by volume, standing out for its range of affordable borrowing options, down payment assistance and closing cost credits.Pros
- 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.
ConsRead full review- 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.
- Why we like itVeterans United is the largest VA loan originator in the country by far, according to the latest federal data.Pros
- Specializes in working with military borrowers.
- Offers VA refinancing.
- Sample interest rates are posted online.
ConsRead full review- Interest rates are on the higher end compared to other VA lenders.
- Does not offer VA renovation loans.
- Why we like itNBKC has a user-friendly website and low average rates, but the mobile app is not aimed at mortgage borrowers and browsing customized mortgage rates requires supplying your name and contact information.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
ConsRead full review- 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 we like itSoFi offers standard purchase and refinance mortgage options, but not construction or renovation loans, and stands out for its convenient one-stop-shopping setup.Pros
- Offers a credit up to $10,000 if closing exceeds the contract date and the lender is at fault.
- Sample mortgage rates are highly customizable.
- HELOC borrowers may access up to 90% of their home equity.
ConsRead full review- Borrowers may experience difficulty with customer service.
- Why we like itGood for: borrowers who want a completely online experience when buying or refinancing.Pros
- Rates and fees have been lower than most lenders, according to the latest federal data.
ConsRead full review- It’s unclear if the lender is currently processing new loans.
- Why we like itBank of America offers low interest rates, in-person service and plenty of loan options. Current banking customers may be eligible for additional perks.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.
ConsRead full review- Mortgage origination fees are on the high side, according to the latest federal data.
- Rate estimator tool doesn’t personalize by credit score.
- Why we like itNavy Federal Credit Union stands out for having exceptionally low VA interest rates and fees.Pros
- Best-scoring VA lender for interest rates and fees.
- Offers VA refinancing.
- Specializes in working with military borrowers.
ConsRead full review- Does not offer VA renovation loans.
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Last updated on March 18, 2020
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 [Lighthouse] Best Mortgage Lenders of July 2025
- Better
- New American Funding: Best for nontraditional credit histories
- Fairway Independent Mortgage: Best for FHA Loans
- Rocket Mortgage, LLC: Best for online experience
- Veterans United: Best for VA loans
- NBKC: Best for online experience
- SoFi: Best for jumbo loans
- LenderFI: Best for refinancing
- Bank of America: Best for first-time home buyers
- Navy Federal: Best for VA loans
