9 Best San Antonio Mortgage Lenders of 2021 - NerdWallet Advertiser disclosure
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NerdWallet scanned San Antonio mortgage lenders to recommend some of the best in important categories.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 buying a home inside or outside of Loop 410, you want a mortgage lender that performs like the Spurs — gets the job done well with a minimum of fuss. NerdWallet researched mortgage companies in San Antonio and identified some of the best in important categories. Our national and regional picks are a good place to start as you shop for a mortgage. These national companies do a lot of business in San Antonio and are among NerdWallet’s top-rated mortgage lenders. » FIND first-time home buyer grants in Texas Whether buying a home inside or outside of Loop 410, you want a mortgage lender that performs like the Spurs — gets the job done well with a minimum of fuss. NerdWallet researched mortgage companies in San Antonio and identified some of the best in important categories. Our national and regional picks are a good place to start as you shop for a mortgage. These national companies do a lot of business in San Antonio and are among NerdWallet’s top-rated mortgage lenders. » FIND first-time home buyer grants in Texas Best San Antonio 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 Rocket Mortgage LLC NMLS#3030Learn more at Rocket Mortgage, LLC 4.0/5 Best for online convenience620 VA:580JUMBO:N/AFHA:580CONVENTIONAL:6203%Rocket Mortgage offers conventional mortgages with as little as 3% down.Learn more at Rocket Mortgage, LLC Fairway Independent Mortgage NMLS#2289Learn more at Fairway Independent Mortgage 3.0/5 Best for online convenience620 CONVENTIONAL:620FHA:640JUMBO: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 Navy Federal NMLS#399807Read review 3.5/5 Best for veterans N/A0% Navy Federal Credit Union offers down payments as low as 0% on loans for military families.Read review PrimeLending NMLS#13649Read review 3.5/5 Best for first-time home buyers620 CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:5803%PrimeLending offers conventional loans with down payments as low as 3%.Read review USAA NMLS#8722Read review 4.0/5 Best for veterans620 VA:640JUMBO:N/ACONVENTIONAL:6203%USAA offers conventional loans with as little as 3% down.Read review Caliber NMLS#15622Read review 3.5/5 Best for FHA loans580 VA:580USDA:N/AFHA:580CONVENTIONAL:620JUMBO:6803.5%Caliber offers conventional loans with as little as 3% down.Read review Bank of America NMLS#399802Read review 4.5/5 Best for conventional & jumbo loans660 CONVENTIONAL:660FHA:600JUMBO:720VA:6205%Bank of America offers down payments as low as 3% through its Affordable Loan Solution mortgage program.Read review Chase NMLS#399798Read review 4.5/5 Best for conventional & jumbo loans620 CONVENTIONAL:620FHA:620JUMBO:N/AUSDA:N/AVA:6203%Chase's DreaMaker mortgage allows down payments as low as 3%.Read review Flagstar NMLS#417490Read review 5.0/5 Best for first-time home buyers620 USDA:660VA:660JUMBO:N/AFHA:640CONVENTIONAL:6203%Flagstar offers 3% down payments on conventional loans for first-time home buyers.Read 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 Fairway Independent Mortgage Fairway Independent Mortgage NMLS#2289
3.0NerdWallet 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 CONVENTIONAL:620FHA:640JUMBO: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 Navy Federal NMLS#399807
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.National / regionalNational Min. down payment0% Navy Federal Credit Union offers down payments as low as 0% on loans for military families. View details Read reviewView details Why we like it Good for: military members and their families looking for low-down-payment mortgages. Pros Offers a wide range of affordable mortgage products, including 0% down payment loans, designed for military members. Offers HELOCs and home equity loans. Offers low rates compared with most lenders, according to the latest federal data. Cons Website does not provide customized mortgage rates based on credit score or other factors before you apply. Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.Read Full ReviewRead review PrimeLending NMLS#13649
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:580 Min. down payment3% PrimeLending offers conventional loans with down payments as low as 3%. View details Read reviewView details Why we like it Good for: borrowers looking for closing cost assistance, as well as those seeking to renovate or to build a new home. Pros Full online application includes document uploads and automated loan updates. Offers a "float-down" interest rate lock. Offers government-backed mortgage and refinance options, including FHA, USDA and VA loans. Cons No online mortgage rates — you have to contact the lender for info. Doesn't offer home equity products.Read Full ReviewRead review USAA NMLS#8722
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:640JUMBO:N/ACONVENTIONAL:620 Min. down payment3% USAA offers conventional loans with as little as 3% down. View details Read reviewView details Why we like it USAA specializes in VA loans and offers a variety of online conveniences, but its website doesn’t offer customized rate quotes. Pros VA loans are the bulk of USAA’s business, so it knows the ins and outs of eligibility. Lots of experience assisting first-time home buyers. You can submit loan documents online. Cons Doesn’t offer FHA or USDA loans, or second mortgages. Limited mortgage rate information is on the USAA website, none of it customized. You'll have to call.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 payment3.5% Caliber offers conventional loans with as little as 3% down. 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 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 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 ReviewRead review Flagstar NMLS#417490
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 USDA:660VA:660JUMBO:N/AFHA:640CONVENTIONAL:620 Min. down payment3% Flagstar offers 3% down payments on conventional loans for first-time home buyers. View details Read reviewView details Why we like it Good for: borrowers who want a wide range of choices — not only among mortgage products, but also in the channel they prefer, whether a branch, online or on the phone. Pros Offers a wide range of loan types and products, including FHA, VA and USDA. Has a full suite of online conveniences. Offers customized online rate quotes with monthly payment estimates, including mortgage insurance, when applicable. Cons Home equity loans are geographically limited.Read Full Review » MORE: See the best Texas mortgage lenders Local and regional mortgage lenders in San Antonio
The following mortgage companies are among the top lenders by loan volume in San Antonio, so they’re worth checking out if you’re looking for more options. NerdWallet has not reviewed these lenders. AMCAP Mortgage
Offers options for low-down-payment borrowers. One of the highest-volume FHA lenders in the area. Offers combined purchase and renovation home loans. Offers online pre-qualification. Cornerstone Home Lending
More than half of its lending volume is in FHA and VA loans. Has a full menu of conventional loan options, too, including jumbo loans. Offers online pre-qualification. Legacy Mutual Mortgage
Good for borrowers who want a homegrown lender based in San Antonio. Offers a full menu of conventional and government-backed loans. Makes Spanish-language versions of forms available online for borrowers to reference. Has an online application process. Security Service Federal Credit Union
Offers home equity loans and lines of credit. Offers lot, land and construction loans. Allows certain borrowers to save up to $5,000 on select closing costs for conventional loans. More from NerdWalletHow much house can you afford? Compare Texas mortgage rates Calculate your Texas mortgage payment 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 San Antonio Mortgage Lenders of 2021
Rocket Mortgage, LLC: Best for online convenienceFairway Independent Mortgage: Best for online convenienceNavy Federal: Best for veteransPrimeLending: Best for first-time home buyersUSAA: Best for veteransCaliber: Best for FHA loansBank of America: Best for conventional & jumbo loansChase: Best for conventional & jumbo loansFlagstar: Best for first-time home buyers About the author
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