Source: Bankrate —
When you set out to get a mortgage, you’ll find many options, from well-known banks to online lenders. Here are Bankrate’s picks for the best mortgage lenders, including borrower requirements — so you know which you might qualify for — and loan terms, so you can figure where you might get the best deal.
Best mortgage lenders
Better
| Availability | Available in all U.S. states |
| Loans offered | Conventional, jumbo, FHA |
| Credit requirements | 620 for conventional and FHA loans |
| Down payment minimum | 3% for conventional loans; 10.01% for jumbo loans; 3.5% for FHA loans |
| Where to find | Online |
- No fees
- Can close as fast as three weeks
- No VA or USDA loans
- No home equity lines of credit (HELOCs) or home equity loans (second mortgages)
Direct Home Lending
| Availability | Available in AZ, CA, CO, CT, FL, GA, OR, PA, SC, TX and WA |
| Loans offered | Conventional, jumbo, FHA, VA |
| Credit requirements | 620 for conventional loans; 680 for jumbo loans; 580 for FHA loans; 600 for VA loans |
| Down payment minimum | 5% for conventional loans; 3.5% for FHA loans; none for VA loans |
| Where to find | Branch locations and online |
- Can close as fast as two weeks
- No USDA loans
- No HELOCs or home equity loans
Fairway Independent Mortgage
| Availability | Available in all U.S. states |
| Loans offered | Conventional, jumbo, FHA, VA, USDA |
| Credit requirements | 620 for conventional and USDA loans; 680-720 for jumbo loans; 600 for FHA and VA loans |
| Down payment minimum | 3%-5% for conventional loans; 20% for jumbo loans; 3.5% for FHA loans; none for VA or USDA loans |
| Where to find | Branch locations and online |
- No HELOCs or home equity loans
Navy Federal Credit Union
| Availability | Available in all U.S. states |
| Loans offered | Conventional, jumbo, VA |
| Credit requirements | 620 for conventional and VA loans |
| Down payment minimum | 5% for conventional loans; none for VA loans |
| Where to find | Branch locations and online |
- Can close as fast as 30-35 days
- No FHA or USDA loans
- No HELOCs or home equity loans
- Limited to armed forces members and families
Optimum First Mortgage
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