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Nations Lending Mortgage Review 2021

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Nations Lending is a mortgage lender founded in 2003 and based in Independence, Ohio. The company is licensed to lend in all 50 states and employs more than 1,000 across its 90 branches. Nations Lending has been cited as one of the fastest-growing private companies in the U.S.

Who is this lender for?
  • Conventional borrowers
  • First-time borrowers or other looking for an FHA loan
  • Servicemembers and veterans seeking a VA loan
  • People seeking a loan for an investment property
  • Families looking for financing on a manufactured home

7/10 LendingTree’s mortgage lender rating

LendingTree’s mortgage lender rating is based on a 10-point scoring system that factors in several features, including digital application and closing processes, available loan products and online and in-person accessibility. LendingTree’s editorial team calculates each rating.

  = 1 pt   = 0 pts

  1.   Application online 
  2.   Product info online 
  3.   Rates listed online 
  4.   Helpful articles about mortgages and homebuying 
  5.   Standard product offerings (Conventional/FHA/VA/USDA)
  6.   Special programs
  7.   Info about how to qualify for products offered online 
  8.   E-closing availability 
  9.   Licensed in at least 35 states 
  10.   After-hours and weekend access to loan officers 

Nations Lending pros and cons

Pros

  Wide range of mortgage products. Nations Lending offers all of the major types of mortgages, from conventional to adjustable-rate, as well as government loan programs like FHA, VA and USDA loans.

  Branches open across the country. The lender has more than 90 physical locations in 28 states across the country, so you may be able to meet with a loan officer in-person.

  In-house servicing. Nations Lending services the vast majority of loans it originates, so chances are you’ll stay with the company after closing on your loan.

Cons

  Rates not posted online. Nations Lending does not advertise daily mortgage rates, so you’ll need to contact a loan officer to find out what rates might be available to you.

  Higher down payments on conventional loans. Nations Lending says its conventional loans require a 5% down payment, which is higher than the 3% options you’ll find at some lenders.

  No home equity loans available. If you’re looking to tap your home equity, you won’t be able to do so with Nations Lending.

Nations Lending borrowing requirements

Minimum credit score 
  • 580 for FHA and VA loans
Minimum down payment 
  • 0% for VA loans and USDA loans
  • 3.5% for FHA loans
  • 5% for conventional loans
Available loan terms 
  • 10, 20, 25 and 30 years for fixed-rate loans
  • 5-10 year introductory periods on adjustable-rate loans
Available loan types 
  • Conventional
  • Adjustable-rate
  • FHA
  • VA
  • USDA
  • Manufactured home

Nations Lending mortgage rates and fees

Nations Lending doesn’t publish information on its mortgage rates or fees online. You’ll need to contact one of its loan officers to get an idea of what you might face.

Nations Lending mortgage products

Purchase

Nations Lending offers both fixed-rate and adjustable-rate conventional loans, with a minimum down payment of 5%. These loans are available both on primary residences and investment or vacation properties.

The lender’s government loan programs include FHA, VA and USDA loans. FHA loans require a credit score of 580 and a down payment of 3.5% and are available both as fixed-rate and adjustable-rate loans. VA loans also have a minimum credit score of 580 but do not require a down payment. The USDA loan program has flexible credit score guidelines and does not require a down payment for people whose income qualifies. Only 30-year fixed rate loans are available in this program.

Refinance

Along with traditional refinancing options, Nations Lending offers the streamline refinance options on FHA and VA loans. VA borrowers may also be able to borrow up to 100% of their home equity in a cash-out refinance. FHA borrowers may also be able to take cash out in a refinance.

Home equity

Not available, aside from the cash-out refinance options on FHA and VA loans.

Special programs

Nations Lending offers home loans on manufactured homes. A credit score of at least 580 is required. Eligible properties must be at least double-wide, 600 square feet, and permanently affixed to a foundation.

How does Nations Lending compare to other lenders?

Nations Lending PrimeLending Fairway Independent
Minimum credit score 
  • 580 for FHA and VA loans
  • Not disclosed
  • 580 for FHA loans
Minimum down payment 
  • 0% (VA, USDA)
  • 0% (VA, USDA)
  • 0% (VA, USDA)
Loan products and types 
  • Conventional
  • Adjustable-rate
  • FHA
  • VA
  • USDA
  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
Special programs offered 
  • Manufactured home loans
  • Reverse mortgages
  • “Shared equity” down payment assistance loan
  • Reverse mortgages
  • Renovation loans
Lender Review PrimeLending Fairway Independent
 

Today's Mortgage Rates

  • 2.76%
  • 2.16%
  • 2.70%
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