8 Best Colorado Mortgage Lenders of 2021 - NerdWallet Advertiser disclosure
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NerdWallet researched Colorado's leading mortgage lenders and identified some of the best across different categories, including first-time home buyers, borrowers with low credit scores and online mortgages. Find the best lender for your needs.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. If you’re looking for the best mortgage lenders in Colorado, we’ve done the research. NerdWallet compared the state’s leading lenders, then identified the best ones for a variety of specific loan needs. Whether you’re shopping for a condo in Denver, a classic ranch on the Eastern plains or a low-rate refinance on the Western Slope, these lenders are a solid place to start shopping. If you’re looking for the best mortgage lenders in Colorado, we’ve done the research. NerdWallet compared the state’s leading lenders, then identified the best ones for a variety of specific loan needs. Whether you’re shopping for a condo in Denver, a classic ranch on the Eastern plains or a low-rate refinance on the Western Slope, these lenders are a solid place to start shopping. Best Colorado 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 low credit score620 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 Guaranteed Rate NMLS#2611Learn more at Guaranteed Rate 5.0/5 Best for online experience620 VA:580USDA:620JUMBO:N/AFHA:600CONVENTIONAL:6203%Guaranteed Rate offers conventional loans with as little as 3% down.Learn more at Guaranteed Rate 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 Bank of America NMLS#399802Read review 4.5/5 Best for face-to-face service660 CONVENTIONAL:660FHA:600JUMBO:720VA:6205%Bank of America offers down payments as low as 3% through its Affordable Loan Solution mortgage program.Read review loanDepot NMLS#174457Read review 4.0/5 Best for refinancing620 VA:620JUMBO:N/AFHA:580CONVENTIONAL:620N/ARead review Citibank NMLS#412915Read review 4.5/5 Best for first-time home buyers N/A3% Citibank offers down payments as low as 3% through its HomeRun loan program.Read review Carrington NMLS#2600Read review 4.5/5 Best for low credit score620 VA:500CONVENTIONAL:620FHA:500JUMBO:N/AUSDA:5505%Carrington Mortgage Services offers conventional loans for as little as 5% down.Read review US Bank NMLS#402761Read review 4.5/5 Best for face-to-face service620 VA:N/ACONVENTIONAL:620FHA:N/AJUMBO:N/AUSDA:N/A5%U.S. Bank offers conventional loans for as little as 5% down.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 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 VA:580USDA:620JUMBO:N/AFHA:600CONVENTIONAL:620 Min. down payment3% Guaranteed Rate offers conventional loans with as little as 3% down. 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 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 ReviewRead review Bank of America NMLS#399802
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 score660 CONVENTIONAL:660FHA:600JUMBO:720VA:620 Min. down payment5% Bank of America offers down payments as low as 3% through its Affordable Loan Solution mortgage program. National / regionalNational View details Read reviewView details National / regional National Why we like it Good for: first-time home buyers looking for low- or no-down-payment options and homeowners interested in a home equity line of credit. Pros Offers down payment and closing cost assistance programs. May give existing customers a discount on mortgage lender origination fees and HELOC interest rates. Receives high marks for customer satisfaction, according to J.D. Power and Zillow. Cons Doesn't offer renovation loans that roll costs into a mortgage.Read Full ReviewRead review loanDepot NMLS#174457
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 National / regionalNational View details Read reviewView details Why we like it Good for: borrowers who want an easy online application and a variety of loan types to explore. Pros Has branches across the country for customers who prefer face-to-face service. Receives high marks for customer satisfaction, according to J.D. Power and Zillow. Mortgage interest rates tend to be on the lower end, according to the latest federal data. Cons Mortgage rates aren't available online; you'll need to contact a loan officer. Doesn't offer home equity loans or lines of credit.Read Full ReviewRead review Citibank NMLS#412915
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.National / regionalNational Min. down payment3% Citibank offers down payments as low as 3% through its HomeRun loan program. View details Read reviewView details Why we like it Good for: Buyers who want to explore low down payment mortgages, including government-backed loans and Citi’s proprietary option. Pros Offers a wide variety of loan options, including low-down-payment mortgages and jumbo mortgages. Offers low rates compared with other lenders, according to the latest data. Receives high marks for customer satisfaction, according to J.D. Power and Zillow. Cons Requires help from a loan officer to complete an online mortgage application. Customized mortgage rates not available without making contact. Doesn’t offer renovation loans.Read Full ReviewRead review Carrington NMLS#2600
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 VA:500CONVENTIONAL:620FHA:500JUMBO:N/AUSDA:550 Min. down payment5% Carrington Mortgage Services offers conventional loans for as little as 5% down. View details Read reviewView details Why we like it Good for: first-time home buyers or credit-challenged borrowers interested in government loan products. Pros Offers multiple low-down-payment loan programs. May consider alternative credit data, such as bank statements. You can view customized rates for purchasing a home and apply online. Cons Doesn't offer home equity lines of credit. Lender fees are on the high side, according to the latest Federal data.Read Full ReviewRead review US Bank NMLS#402761
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 VA:N/ACONVENTIONAL:620FHA:N/AJUMBO:N/AUSDA:N/A Min. down payment5% U.S. Bank offers conventional loans for as little as 5% down. View details Read reviewView details Why we like it U.S. Bank gets high marks for its loan offerings and online customer conveniences — and has competitive fees and mortgage rates. Pros Offers a full line of conventional and government loan products. Provides home equity loans and lines of credit. Allows borrowers to apply and track their loan's progress online. Cons No personalized mortgage rates available online. Published mortgage rates assume an above-average credit score.Read Full Review » MORE: Best Denver mortgage lendersMore from NerdWallet Calculate your mortgage payment Compare Colorado mortgage rates How much house can I afford? 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 Colorado Mortgage Lenders of 2021
New American Funding: Best for low credit scoreGuaranteed Rate: Best for online experienceRocket Mortgage, LLC: Best for online experienceBank of America: Best for face-to-face serviceloanDepot: Best for refinancingCitibank: Best for first-time home buyersCarrington: Best for low credit scoreUS Bank: Best for face-to-face service About the author
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