Best Mortgage Lenders 2021

BEST FOR LOW INTEREST RATES

PennyMac

PennyMac mortgage rates are some of the lowest in the US. PennyMac is currently the second largest lender of government loans. PennyMac VA home loans require no down payment and no monthly mortgage insurance premiums. They also offer conventional refinance and cash-out refinances.

PennyMac Loan Services is one of the top three mortgage lenders in the United States and offers mortgages including conventional loans, FHA loans, USDA loans, and VA loans.

BEST FOR NO DOWN PAYMENT

Alliant Credit Union

The Alliant Advantage Mortgage (AAM) program offers low and no down payments on certain mortgages, all without any private mortgage insurance (PMI) premiums required. Alliant Credit Union is a not-for-profit that serves its members rather than stockholders. Alliant is one of the largest credit unions in the United States and has been operating for over 80 years.

First-time homebuyers can qualify for a mortgage with 0% down payment for loans of up to $500,000 for adjustable-rate mortgages (ARM), while non-first-time homebuyers can get a mortgage with a down payment as low as 5%, or refinance with 5% equity.

Alliant mortgage rates are offered for both conventional and adjustable-rate mortgages.

BEST FOR VA LOANS

Navy Federal

Navy Federal allows 0% down payment on VA loans, Freedom Lock to lock-in your mortgage rate for up to 60 days, and cash-back bonuses in certain states.

Navy Federal is a not-for-profit credit union for both current members of the military, their families, and veterans. All active duty members and veterans, including those in the Army, Marine Corps, Navy, Air Force, Coast Guard, and National Guard, are eligible for membership. Membership is also open to their family members and Department of Defence civilian employees.

BEST FOR CONVENIENCE

Quicken Loans

Quicken Loans makes the mortgage application process easy by making it all online. You can send your information online without the hassle of paper documents, and you can schedule your closing to be whenever you want online. You can view the status of your loan application and manage your mortgage all online as well. Also part of the Quicken Loans family, Rocket Mortgages offers swift mortgage approvals.

For a 30-Year Fixed loan, Quicken Loans requires a minimum down payment of just 3%, and a credit score of at least 620. You can view some of Quicken Loan mortgage rates and Rocket Mortgage rates here.

Quicken Loans is the largest mortgage lender in the United States, and offers a wide variety of products from conventional mortgages, ARM, FHA loans, VA loans, USDA loans, and jumbo loans.

BEST FOR CUSTOMER SERVICE

Ally Bank

Named Newsweek's Best Online Bank for Customer Service, Ally Bank makes it easy to get in touch with an agent. You can call, chat, email, tweet, message on Facebook, use their mobile app, or even talk to them through Amazon Alexa.

Ally Bank is an online bank that offers mortgage pre-approvals in as little as 3 minutes. Down payments of as low as 3% are allowed, and first-time home buyers can save on private mortgage insurance. Ally Bank mortgage rates include those for conventional mortgages, adjustable-rate mortgages, and jumbo loans.

BEST FOR POOR CREDIT

Carrington Mortgage Services

Carrington Mortgage Services accept credit scores as low as 500 for FHA loans, USDA loans, VA loans, and Adjustable Rate Mortgage (ARM) loans. For conventional loans, a credit score of at least 620 is needed. Homeownership education is required for some loan programs.

BEST FOR INTEREST-ONLY MORTGAGES

Guaranteed Rate

Guaranteed Rate offers interest-only mortgages with terms from five to ten years. An interest-only mortgage can help those looking for a lower monthly mortgage payment rather than the ability to build up home equity.

Besides interest-only mortgages, Guaranteed Rate also offers FHA loans, VA home loans, jumbo loans, conventional mortgages, and mortgage refinance options. Applying for a mortgage can take as little as 10 minutes.