Best Mortgage Lenders of December 2025
Choosing the right mortgage lender is an important part of the homebuying process — it affects everything from your interest rate and closing costs to your customer service experience. Compare our picks for the best mortgage lenders and understand what you’ll need to qualify.
At a glance: Best mortgage lenders
| Lender | Best for | User ratings | Min. credit score | Avg. total loan costs Average total loan costs include orginiation fees and are based on 2023 data from the Federal Financial Institutions Examination Council (FFIEC). | |
|---|---|---|---|---|---|
 | Best mortgage lender for FHA loans | (625) Ratings and reviews are from real consumers who have used the lending partner’s services. | 580 | $8,512 | |
 | Best mortgage lender for VA loans | (2620) Ratings and reviews are from real consumers who have used the lending partner’s services. | 580 to 680 | $8,122 | |
 | Best lender for online mortgage experience | (952) Ratings and reviews are from real consumers who have used the lending partner’s services. | 500 to 620 | $7,959 | |
 | Best mortgage lender for refinance loans | (1455) Ratings and reviews are from real consumers who have used the lending partner’s services. | 620 | $7,794 | |
 | Best mortgage lender for jumbo loans | (428) Ratings and reviews are from real consumers who have used the lending partner’s services. | 700 | $7,068 | |
 | Best lender for home equity loans | User reviews coming soon | 580 to 620 | $5,092 | |
 | Best lender for overall mortgage loan variety | (61083) Ratings and reviews are from real consumers who have used the lending partner’s services. | 580 to 620 | $8,170 |
Best mortgage lender for FHA loans: Pennymac
You’ll have the best chance of qualifying for a mortgage with Pennymac if you have:
- LTV ratio of 76% or better
- DTI ratio below 43%
Pennymac doesn’t share the exact minimum requirements it uses to approve applications, but most of their customers met these qualifications, according to nationwide data from 2023.
Pennymac also offers:
- Conventional loans
- VA loans
- Jumbo loans
- Home equity loans
We chose Pennymac as the best FHA loan lender because they have easier requirements, lower loan costs than other top FHA lenders, make their FHA rates information easy to find, and offer three of the four popular FHA programs. The only popular FHA loan Pennymac does not offer is an FHA 203(k) loan, a type of FHA loan used for construction.
Overall, Pennymac:
- Allows FHA borrowers to have higher maximum DTI ratios (50 to 55% limit, dependent on credit history) than most other top lenders
- Adheres to standard FHA loan credit score and down payment minimums
- Shows FHA loan rates front and center in their general rate information (but for customized rates, you’ll have to complete their form)
- Offers home loans in all 50 states and some U.S. territories
Best mortgage lender for VA loans: Rocket Mortgage
You’ll have the best chance of qualifying for a mortgage with Rocket if you have:
- LTV ratio of 73% or better
- DTI ratio below 40%
Rocket Mortgage doesn’t share the exact minimum requirements it uses to approve applications, but most customers had this profile, according to nationwide data from 2023.
Rocket Mortgage also offers:
- Conventional loans
- FHA loans
- Jumbo loans
- Home equity loans
Rocket Mortgage is one of the largest mortgage lenders in the country. The lender offers military homebuyers all of the essential VA loan programs, including purchase loans, the VA cash-out refinance and the VA streamline program — more commonly known as the interest rate reduction refinance loan (IRRRL). VA borrowers can apply online, check out daily VA rates and educate themselves about VA loans by using the resources available on the website.
Best mortgage lender for online mortgage experience: Zillow Home Loans
You’ll have the best chance of qualifying for a mortgage with Zillow if you have:
- LTV ratio of 87% or better
- DTI ratio below 40%
Zillow doesn’t share the exact minimum requirements it uses to approve applications, but most customers had this profile, according to nationwide data from 2023.
Zillow Home Loans provides a wealth of information about purchase and refinance mortgages to help consumers choose the best mortgage type for their needs. Zillow outperforms the competition when it comes to rate transparency, publishing daily mortgage rate updates for various refinance and purchase programs. Consumers can check fixed rates for FHA and VA loans or assess adjustable-rate mortgage (ARM) programs.
Best mortgage lender for refinance loans: Rate
You’ll have the best chance of qualifying for a mortgage with Rate if you have:
- LTV ratio of 62% or better
- DTI ratio below 40%
Rate doesn’t share the exact minimum requirements it uses to approve applications, but most customers had this profile, according to nationwide data from 2023.
Rate offers these refinance programs:
- Conventional cash-out or rate-and-term loans
- FHA cash-out or rate-and-term loans
- FHA 203(k) renovation loans
- VA cash-out and IRRRLs
- VA renovation loans
- Fannie Mae HomeStyle® and Freddie Mac renovation loans
Rate also offers these purchase mortgage programs:
- Jumbo loans
- Interest-only mortgages
- Home equity lines of credit (HELOCs)
Rate (formerly known as Guaranteed Rate) specializes in providing a digital mortgage experience for borrowers. Consumers can check out online resources and information about mortgage refinancing to help decide which option fits their financial goals. Rate’s refinance rates are displayed online and updated daily. Borrowers can choose from a range of refinance programs, including various fixer-upper loans.
Best mortgage lender for jumbo loans: Better Mortgage
You’ll have the best chance of qualifying for a mortgage with Better if you have:
- LTV ratio of 81% or better
- DTI ratio below 40%
Better Mortgage doesn’t share the exact minimum requirements it uses to approve applications, but most customers had this profile, according to nationwide data from 2023.
Better also offers:
- Conventional loans
- FHA loans
- VA loans
- Home equity loans
- Home equity lines of credit (HELOCs)
Better Mortgage offers an online-only platform that includes an excellent selection of jumbo mortgage rates and product information for borrowers who need a loan above their area’s conforming loan limits. It gives jumbo homebuyers extra borrowing power with loan amounts available up to $3 million, and advertises a three-minute online preapproval and a digital mortgage process. Rate quotes can easily be customized to fit a customer’s location.
Best mortgage lender for home equity loans: BMO
**Home equity loan terms include 5, 10, 15, and 20 years. HELOC loan terms range from 5 to 30 years.
You’ll have the best chance of qualifying for a mortgage with BMO if you have:
- LTV ratio of 63% or better
- DTI ratio below 40%
BMO doesn’t share the exact minimum requirements it uses to approve applications, but most customers had this profile, according to nationwide data from 2023.
BMO also offers:
- Conventional loans
- FHA loans
- VA loans
- Jumbo loans
BMO offers home equity loans and home equity lines of credit (HELOCs) with transparent online information, which includes current rates, product information and educational articles. You can choose a home equity loan and receive a lump sum upfront that you’ll repay in fixed installments.
A HELOC, on the other hand, is like a credit card — you can use the credit line as needed and only make payments on the amount charged. Once you’re ready to apply for a home equity loan or HELOC, BMO Harris offers an online application with a guide to help you navigate the information you’ll need to apply.
Best lender for overall mortgage loan variety: Fairway Independent Mortgage
You’ll have the best chance of qualifying for a mortgage with Fairway Independent Mortgage if you have:
- LTV ratio of 87% or better
- DTI ratio below 40%
Fairway doesn’t share the exact minimum requirements it uses to approve applications, but most customers had this profile, according to nationwide data from 2023.
Fairway offers these purchase and refinance programs:
- Conventional loans
- FHA loans
- VA loans
- USDA loans
- Jumbo loans
Fairway also offers these fixer-upper loan programs:
- FHA 203(k) loans
- Fannie Mae HomeStyle renovation loans
- VA renovation loans
- USDA renovation loans
Customers can also apply for reverse mortgage loans and physician home loans from Fairway Independent Mortgage.
Fairway Independent Mortgage Corp. took the lead in the “loan variety” category, with an unmatched selection of renovation loans among the lenders we reviewed, including a USDA renovation loan product. They also offer reverse mortgages and a physician home loan program.
Plus, Fairway’s jumbo loan options include a super-jumbo loan product for loan amounts of $1 million or more, and jumbo reverse mortgages for seniors with large amounts of equity in higher-priced homes.
How to find the best mortgage lender
- Compare different types of mortgage lenders. Direct lenders approve and fund your loan in-house and usually have access to various down payment assistance programs. Your local bank or credit union may offer you a rate discount if you carry large deposits or agree to set up automatic monthly payments for your mortgage.
- Get a preapproval letter. Once you choose a mortgage lender, apply for preapproval. This can give you a leg up over other buyers, since sellers tend to take those who are preapproved more seriously. Additionally, since your financial information will already be in the lender’s system, it may expedite the closing process.
- Review your loan estimate. After you apply for a mortgage, you’ll receive a loan estimate, which outlines various details about your quoted loan, including the loan amount, interest rate and estimated closing costs. You can request loan estimates from multiple lenders to find the best deal.
Mortgage types
Click on each mortgage type to learn more.
Conventional loans aren’t guaranteed by any federal government agency. Lenders follow rules set by Fannie Mae and Freddie Mac, which tend to be stricter than government-backed loans. You’ll need at least a 620 credit score and a 3% down payment to qualify. Conventional loan limits for single-family homes are capped at $806,500 for most parts of the country.
The Federal Housing Administration (FHA) insures loans made by approved lenders with more lenient qualifying requirements than conventional loans. Borrowers with scores as low as 580 only need a 3.5% down payment, but pay expensive FHA mortgage insurance for the life of their loans. FHA loan limits are lower than conventional loans, with a current maximum of $524,225 for a one-unit home in most of the country’s counties.
See our current FHA rates today.
Eligible military borrowers can get zero-down financing with a loan backed by the U.S. Department of Veterans Affairs (VA). VA loans don’t require mortgage insurance and, in most cases, loan limits don’t apply. However, a VA funding fee may be required depending on the down payment and whether the veteran has used their VA benefit before.
Browse current VA rates today.
A jumbo loan is a mortgage with a loan amount above the conforming loan limits set each year by the Federal Housing Finance Agency. You’ll likely need a jumbo loan if you’re buying a home in an expensive part of the country. You’ll also need a higher credit score and down payment to qualify and typically pay a higher rate.
See current jumbo mortgage rates today.
A USDA loan is provided by the U.S. Department of Agriculture. USDA loans offer borrowers in rural areas no-down-payment mortgages and low rates. You’ll need to fall under certain income limits to qualify for a USDA loan. See if you qualify with the agency’s income eligibility map.
Current mortgage rates
The mortgage interest rates forecast is for rates to remain relatively high compared to pre-pandemic levels. However, they may continue to drift downward through the end of the year. For now, the housing market is expected to remain sluggish due to high rates and low affordability.
Is it a good time to get a mortgage?
Due to high interest rates, it’s not an ideal time to buy a house for most borrowers. However, the decision to buy a home isn’t solely based on numbers — it also depends on your needs, long-term goals and financial situation. Major life events such as a job relocation or a growing family may outweigh market conditions. Ultimately, the right time to buy is a personal decision — one that should take into account both the numbers and your individual circumstances.
Frequently asked questions
It depends on the mortgage program, but most conventional lenders require a 620 score or higher. You may qualify for a mortgage through the FHA with a lower score — 580 with a 3.5% down payment or 500 with a 10% down payment.
Before shopping for mortgages, it’s important to understand the loan size you can afford. Use a mortgage calculator to estimate your monthly payments based on your home purchase price, loan term, down payment and mortgage rate. Once you have the number, plug it into your budget to see if it leaves enough wiggle room for your other expenses.
Closing costs generally range from 2% to 6% of the loan amount and include various expenses, such as:
- Application fees
- Loan origination fees
- Appraisal charges
- Real estate lawyer fees
- Mortgage points
- Initial escrow payment
The best mortgage lender is usually the one that offers you the lowest interest rate, along with the lowest costs and fees. In the simplest case, a buyer will gather several loan estimates and compare rates and fees. However, if you have unique needs to consider, weighing your options can be a bit more complicated. You may have to pay a higher interest rate to get a low- or no-doc mortgage, for instance. And if you’re interested in down payment assistance (DPA), you’ll need to choose a DPA-approved lender.
Several factors affect the mortgage rate you’ll qualify for, including your credit score, debt-to-income (DTI) ratio, down payment amount and chosen loan program. You can lower your rate by shopping around for the best deal, buying mortgage points or getting a rate lock.
Methodology
We reviewed data collected from more than 30 lender reviews completed by the LendingTree editorial staff to determine the best mortgage lenders in each category chosen in this roundup. It includes winners in the best overall categories awarded to lenders in our FHA, VA, home equity, refinance and jumbo “best of” roundups.
To determine the best overall loan variety category winner, we tallied the total number of standard and special loan programs offered by each individual lender. Each lender is given a score between zero and five stars based on several features, including digital application processes, available loan products and the accessibility of product and lending information. To be included in the “best of” roundup, lenders must offer mortgages in at least 35 states.
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