9 Best Indiana Mortgage Lenders of 2021 - NerdWallet Advertiser disclosure
You re our first priority br Every time
We believe everyone should be able to make financial decisions with confidence. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free. So how do we make money? Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Here is a list of our partners.BEST OF 9 Best Indiana Mortgage Lenders of 2021
Looking to get a mortgage in Indiana? These are among the best mortgage lenders in Indiana for first-time home buyers and borrowers with low credit scores. Others rank high for online mortgages, refinancing and face-to-face lending.NerdWallet Jan 22, 2021 Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money. Whether you're looking for a home in South Bend or Kokomo, mortgage shopping requires research. NerdWallet has done the groundwork to help you make the right decision. Here are some of the top lenders and the areas they excel in, such as working with first-time home buyers, helping borrowers with lower credit scores, offering the convenience of online lending and providing face-to-face support. Whether you're looking for a home in South Bend or Kokomo, mortgage shopping requires research. NerdWallet has done the groundwork to help you make the right decision. Here are some of the top lenders and the areas they excel in, such as working with first-time home buyers, helping borrowers with lower credit scores, offering the convenience of online lending and providing face-to-face support. Best Indiana Mortgage Lenders
LenderNerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.Min. credit score Minimum credit score on top loans; other loan types or factors may selectively influence minimum credit score standardsMin. down paymentLearn more New American Funding NMLS#6606Learn more at New American Funding 4.5/5 Best for lower credit scores620 FHA:500JUMBO:N/AUSDA:640VA:500CONVENTIONAL:6203%New American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.Learn more at New American Funding Quicken Loans NMLS#3030Learn more at Quicken Loans 4.0/5 Best for first-time home buyers620 VA:620JUMBO:N/AFHA:580CONVENTIONAL:6203%On conventional loans, Quicken offers down payments as low as 3%.Learn more at Quicken Loans Rocket Mortgage LLC NMLS#3030Learn more at Rocket Mortgage, LLC 4.0/5 Best for online experience620 VA:580JUMBO:N/AFHA:580CONVENTIONAL:6203%Rocket Mortgage offers conventional mortgages with as little as 3% down.Learn more at Rocket Mortgage, LLC Guaranteed Rate NMLS#2611Learn more at Guaranteed Rate 5.0/5 Best for refinancing620 FHA:600VA:600USDA:620JUMBO:N/ACONVENTIONAL:620N/ALearn more at Guaranteed Rate Fairway Independent Mortgage NMLS#2289Learn more at Fairway Independent Mortgage 3.5/5 Best for face-to-face support620 CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:6403%Fairway Independent Mortgage offers conventional mortgages with flexible terms and mortgage insurance options on down payments less than 20%.Learn more at Fairway Independent Mortgage SoFi NMLS#1484615Read review 4.0/5 Best for first-time home buyers + online experience620 JUMBO:700CONVENTIONAL:6203%SoFi requires a 3% down payment from first-time home buyers for mortgage loans.Read review SunTrust Truist NMLS#2915Read review 4.5/5 Best for refinancing620 JUMBO:N/AFHA:620VA:620USDA:640CONVENTIONAL:620N/ARead review Caliber NMLS#15622Read review 3.5/5 Best for VA loans580 VA:580USDA:N/AFHA:580CONVENTIONAL:620JUMBO:6800%On VA loans, Caliber offers down payments as low as 0%.Read review Chase NMLS#399798Read review 4.5/5 Best for face-to-face support620 CONVENTIONAL:620FHA:620JUMBO:N/AUSDA:N/AVA:6203%Chase's DreaMaker mortgage allows down payments as low as 3%.Read reviewLearn more at New American Funding New American Funding NMLS#6606
4.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 FHA:500JUMBO:N/AUSDA:640VA:500CONVENTIONAL:620 Min. down payment3% New American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois. View details Learn moreat New American Funding View details Why we like it Good for: First-time home buyers and other borrowers looking for a broad array of loan choices. Pros Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities. Its home equity line of credit can be used for an owner-occupied or second home. Offers a program to enable buyers to make cash offers. Cons Mortgage origination fees tend to be on the high end, according to the latest federal data.Read Full ReviewLearn more at Quicken Loans Quicken Loans NMLS#3030
4.0NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 VA:620JUMBO:N/AFHA:580CONVENTIONAL:620 Min. down payment3% On conventional loans, Quicken offers down payments as low as 3%. View details Learn moreat Quicken Loans View details Why we like it Good for: borrowers who appreciate convenience online and on the go for a fully digital home loan experience with consistently acclaimed customer service. Pros Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary. Estimates the loan amount you’ll qualify for within minutes. Streamlines the online process with document and asset retrieval capabilities, including the ability to edit your preapproval letter. Cons Getting a customized interest rate requires a credit check, which can affect your credit score. Doesn't offer home equity loans or lines of credit. Lender fees are on the high side and the fees aren't offset by particularly low mortgage rates, according to the latest data.Read Full ReviewLearn more at Rocket Mortgage, LLC Rocket Mortgage LLC NMLS#3030
4.0NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 VA:580JUMBO:N/AFHA:580CONVENTIONAL:620 Min. down payment3% Rocket Mortgage offers conventional mortgages with as little as 3% down. View details Learn moreat Rocket Mortgage, LLC View details Why we like it Good for: borrowers who appreciate convenience online and on the go for a fully digital home loan experience with consistently acclaimed customer service. Pros Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary. Estimates the loan amount you’ll qualify for within minutes. Streamlines the online process with document and asset retrieval capabilities, including the ability to edit your preapproval letter. Cons Getting a customized interest rate requires a credit check, which can affect your credit score. Doesn't offer home equity loans or lines of credit. Lender fees are on the high side and the fees aren't offset by particularly low mortgage rates, according to the latest data.Read Full ReviewLearn more at Guaranteed Rate Guaranteed Rate NMLS#2611
5.0NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 FHA:600VA:600USDA:620JUMBO:N/ACONVENTIONAL:620 National / regionalNational View details Learn moreat Guaranteed Rate View details Why we like it Good for: borrowers seeking a solid variety of loan types, including jumbo and interest-only options, and a totally online experience. Pros Displays detailed sample rates for many of its loan products. Offers a wide variety of loans, including jumbo and interest-only products. Offers low rates compared with other lenders, according to the latest federal data. Cons Doesn't offer home equity loans.Read Full ReviewLearn more at Fairway Independent Mortgage Fairway Independent Mortgage NMLS#2289
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:640 Min. down payment3% Fairway Independent Mortgage offers conventional mortgages with flexible terms and mortgage insurance options on down payments less than 20%. View details Learn moreat Fairway Independent Mortgage View details Why we like it Good for: borrowers who want access to a wide variety of mortgages, including renovation loans and ITIN loans. Pros Offers a robust suite of loan products, including ITIN loans for borrowers without Social Security numbers, renovation loans, government-backed mortgages and loans for self-employed borrowers. Receives high marks for customer satisfaction, according to J.D. Power and Zillow. Cons Mortgage rates for different types of loans aren't posted online. Origination fees are on the high side compared with other lenders, according to the latest federal data.Read Full ReviewRead review SoFi NMLS#1484615
4.0NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 JUMBO:700CONVENTIONAL:620 Min. down payment3% SoFi requires a 3% down payment from first-time home buyers for mortgage loans. View details Read reviewView details Why we like it Good for: borrowers seeking an entirely digital application process for conventional purchase mortgages or refinancing. Pros Borrowers with an existing loan or investment account from SoFi may qualify for a $500 discount on mortgage fees. Mortgage rates tend to be on the low side, according to the latest federal data. Offers jumbo loans with a minimum down payment of 10%. Cons Does not offer government-backed loans, such as FHA or VA. Requires users to create an account to see customized mortgage rates. SoFi conforming mortgages are unavailable in Hawaii.Read Full ReviewRead review SunTrust Truist NMLS#2915
4.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 JUMBO:N/AFHA:620VA:620USDA:640CONVENTIONAL:620 National / regionalNational View details Read reviewView details Why we like it Good for: borrowers seeking rate-and-term, cash-out or VA IRRRL refinancing. Pros Offers a wide variety of loan options, including special programs for doctors. Offers a complete suite of online mortgage application tools and loan tracking. Sample rates and fees are easy to find on the website. Cons Customized rates aren't available online without starting an application. Branches are limited mostly to the Southeast.Read Full ReviewRead review Caliber NMLS#15622
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score580 VA:580USDA:N/AFHA:580CONVENTIONAL:620JUMBO:680 Min. down payment0% On VA loans, Caliber offers down payments as low as 0%. View details Read reviewView details Why we like it Good for: first-time home buyers, veterans and those who may have credit challenges to overcome. Pros Offers extensive educational resources for military borrowers. Participates in some down payment assistance and first-time home buyer programs. Cons No mortgage rates displayed online. Doesn’t offer home equity loans or lines of credit.Read Full ReviewRead review SoFi NMLS#1484615
4.0NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 JUMBO:700CONVENTIONAL:620 Min. down payment3% SoFi requires a 3% down payment from first-time home buyers for mortgage loans. View details Read reviewView details Why we like it Good for: borrowers seeking an entirely digital application process for conventional purchase mortgages or refinancing. Pros Borrowers with an existing loan or investment account from SoFi may qualify for a $500 discount on mortgage fees. Mortgage rates tend to be on the low side, according to the latest federal data. Offers jumbo loans with a minimum down payment of 10%. Cons Does not offer government-backed loans, such as FHA or VA. Requires users to create an account to see customized mortgage rates. SoFi conforming mortgages are unavailable in Hawaii.Read Full ReviewRead review Chase NMLS#399798
4.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 CONVENTIONAL:620FHA:620JUMBO:N/AUSDA:N/AVA:620 Min. down payment3% Chase's DreaMaker mortgage allows down payments as low as 3%. View details Read reviewView details Why we like it Good for: borrowers who want a wide selection of loan products, an in-person experience and comparatively low interest rates. Pros Carries a wide variety of mortgage types and products, including DreaMaker and Standard Agency mortgages, with down payments as low as 3%. Offers low rates compared with other lenders, according to the latest federal data. Offers a customizable mortgage calculator for personalized rate and payment estimates. Cons Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle. You have to speak with a home loan adviser to complete the application. Home equity lines of credit (HELOC) are currently unavailable.Read Full Review More from NerdWallet: How much home can you afford? Compare Indiana mortgage rates See Indiana first-time homebuyer programs Last updated on January 22, 2021 Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team. To recap our selections... NerdWallet' s Best Indiana Mortgage Lenders of 2021
New American Funding: Best for lower credit scoresQuicken Loans: Best for first-time home buyersRocket Mortgage, LLC: Best for online experienceGuaranteed Rate: Best for refinancingFairway Independent Mortgage: Best for face-to-face supportSoFi: Best for first-time home buyers + online experienceSunTrust (Truist): Best for refinancingCaliber: Best for VA loansChase: Best for face-to-face support About the author
NerdWallet
Email