Our top 5 lenders offer low rates, online applications, and a broad range of mortgage products. But there are some differences between them. To help you compare between the best online mortgage lenders, we created the following features-comparison chart. Take a look at the rates, terms, customer support, and the range of loans on offer to find the best lender for you.
Loan Purpose
Credit Score
Purchase
Good
Overall Rating
Low Rates
Direct Lender or Marketplace
Direct lenders provide loans to borrowers. Marketplaces help borrowers compare direct lenders.
Marketplace
Direct
Direct
Direct
Direct
Terms
The duration of your loan, i.e. the number of years to repay it.
10-30
15-30
15-30
10-30
15-30
Minimum Credit Score
All
Fair +
Fair+
Fair +
Fair+
Minimum Down Payment
Lowest down payment across all mortgage products
0%
0%
0%
0%
0%
Pros & Cons
Advertises rates
Non-conventional loans
Government-backed loans such as FHA, VA, and USDA.
Market-beating rates
Top Pro
Free to use
Quick and effective approval process
Quick application and closure
Closure in 3 weeks
Completely online lender
Top Con
Not a direct lender
No rates without contact details
No HELs or HELOCs
Not available to NY residents
No HELs or HELOCs
Bottom Line
Compares lenders in seconds
Combining experience and digital
Nation’s largest mortgage lender
Broad selection of loans
Quicken Loans’ online lending service
Types of Loans
Fixed Rate
Conventional loan with fixed rate for duration of loan
Adjustable Rate
Conventional loan with adjustable rate for introductory period of 3-10 years
Cash Out Refinance
Alternative way of using home equity to borrow cash
HEL/HELOC
Loans and lines of credit that let homeowners tap into their equity to borrow large sums
Jumbo
Loan that exceeds FHA’s conforming limits, usually more than $424,100.
FHA
Government-backed loan for borrowers with low credit, with 3.5-10% down payment
VA
Government-backed loan for military personnel and veterans
USDA
Loans backed by Department of Agriculture for rural and suburban homes
Reverse Mortgage
Enables homeowners aged 62 and older to use their home equity to borrow
Operations
Year Founded
1996
1991
1985
2003
2016
Headquarters
North Carolina
Pennsylvania
Michigan
Ohio
Michigan
States
50
45
AL, AZ, AR, CA, CO,
CT, DE, DC, FL, GA,
IL, IN, IA, KS, KY,
LA, ME, MD, MA, MI,
MN, MS, NE, NH, NJ,
NM, NC, ND, OH, OK,
OR, PA, RI, SC, SD,
TN, TX, VT, VA, WA,
WV, WI, WY, AK, MO,
50
30
AZ, AR, CA, CO, CT,
DE, IL, IN, LA, MA,
ME, MD, MI, MN, NC,
NH, NJ, NM, OH, OK,
OR, PA, SC, TN, VA,
VT, WI, WA, GA, NV,
50
Online
Physical Branches
Customer Support
Phone
Email
Live Chat
FAQ
In Branch
Learn More
Lending Tree
Low Rates
1
(13,946)
- 15 to 30 year fixed mortgage rate
- As Low As 3.93% APR Fixed Rate
- View Online Offers & Get Your Credit Score for Free
- Get up to 5 Free Quotes!
View Rates
Learn More
J.G. Wentworth Home Lending
2
(7,495)
- Low Mortgage Rates for Refinancing and Purchase
- No Points and No Hidden Fees
- Ranked #1 for Customer Satisfaction on Lending Tree
View Rates
Learn More
Quicken Loans
3
(3,346)
- 15 to 30 Year Tailor Mortgage Programs
- A+ Rating with the BBB
- Real Time Quotes
View Rates