10 Best Jacksonville Mortgage Lenders of 2021 - NerdWallet Advertiser disclosure
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NerdWallet has narrowed the field to some of the best-rated mortgage companies in Jacksonville, Florida.NerdWallet Jan 21, 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. Jacksonville, Florida, can measure its appeal by the numbers. It has an average commute time of just 25 minutes and 24 annual music festivals. The sun shines on more than 90 miles of area beaches 220 days of the year. An equally impressive number of companies serve the mortgage needs of the 1.6 million residents in the seven-county area. Because there is a significant military presence across the First Coast, lenders that specialize in mortgages guaranteed by the Department of Veterans Affairs and that cater to first-time home buyers are in high demand. The challenge for borrowers who want to comparison shop is finding a workable number of high-performing loan providers. » MORE: Find out about Florida first-time home buyer programs Here are some of the best-rated lenders NerdWallet has reviewed in various borrower categories. We’ve highlighted some local favorites, too. All are among the mortgage lenders that do the most business in Jacksonville. Jacksonville, Florida, can measure its appeal by the numbers. It has an average commute time of just 25 minutes and 24 annual music festivals. The sun shines on more than 90 miles of area beaches 220 days of the year. An equally impressive number of companies serve the mortgage needs of the 1.6 million residents in the seven-county area. Because there is a significant military presence across the First Coast, lenders that specialize in mortgages guaranteed by the Department of Veterans Affairs and that cater to first-time home buyers are in high demand. The challenge for borrowers who want to comparison shop is finding a workable number of high-performing loan providers. » MORE: Find out about Florida first-time home buyer programs Here are some of the best-rated lenders NerdWallet has reviewed in various borrower categories. We’ve highlighted some local favorites, too. All are among the mortgage lenders that do the most business in Jacksonville. Best Jacksonville 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 loanDepot NMLS#174457Read review 4.0/5 Best for customer service620 JUMBO:N/AVA:620FHA:580CONVENTIONAL:6205%LoanDepot offers conventional loans with as little as 5% down.Read review Navy Federal NMLS#399807Read review 3.5/5 Best for military members and their families 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 closing costs assistance620 CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:5803%PrimeLending offers conventional loans with down payments as low as 3%.Read review SunTrust Truist NMLS#2915Read review 4.5/5 Best for first-time home buyers620 VA:620USDA:640JUMBO:N/AFHA:620CONVENTIONAL:6203%SunTrust Mortgage offers conventional loans for as little as 3% down.Read review Flagstar NMLS#417490Read review 5.0/5 Best for a wide variety of loan products620 USDA:660VA:660JUMBO:N/AFHA:640CONVENTIONAL:6203%Flagstar offers 3% down payments on conventional loans for first-time home buyers.Read review Bank of America NMLS#399802Read review 4.5/5 Best for a wide variety of loan products660 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 a wide variety of loan products620 CONVENTIONAL:620FHA:620JUMBO:N/AUSDA:N/AVA:6203%Chase's DreaMaker mortgage allows down payments as low as 3%.Read review USAA NMLS#8722Read review 3.5/5 Best for military members and their families640 VA:640JUMBO:N/ACONVENTIONAL:6200%USAA offers VA loans with as little as 0% down.Read review Caliber NMLS#15622Read review 3.5/5 Best for first-time home buyers620 VA:580USDA:N/AFHA:580CONVENTIONAL:620JUMBO:6803%Caliber offers conventional loans with as little as 3% down.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 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 JUMBO:N/AVA:620FHA:580CONVENTIONAL:620 Min. down payment5% LoanDepot offers conventional loans with as little as 5% down. 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 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 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 VA:620USDA:640JUMBO:N/AFHA:620CONVENTIONAL:620 Min. down payment3% SunTrust Mortgage offers conventional loans for as little as 3% down. View details Read reviewView details Why we like it Good for: first-time home buyers, doctors and other borrowers interested in low-down-payment mortgage options. 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 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 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 USAA NMLS#8722
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 score640 VA:640JUMBO:N/ACONVENTIONAL:620 Min. down payment0% USAA offers VA loans with as little as 0% 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 score620 VA:580USDA:N/AFHA:580CONVENTIONAL:620JUMBO:680 Min. down payment3% 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 Review » MORE: Check Jacksonville mortgage rates Local mortgage lenders in Jacksonville
It’s always a good idea to include a local lender or two in your search for the best mortgage deal. These Jacksonville companies are among the highest-volume mortgage lenders in northeast Florida, though they have not been reviewed by NerdWallet. Vystar Credit Union
The largest credit union based in northeast Florida and the second-largest mortgage lender in the region by loan volume. Will pay up to $5,000 in borrower closing costs on certain home loans. Makes credit union membership available to those who live or work in the Jacksonville area. TIAA Bank
While now splashed across the Jacksonville Jaguars’ stadium, many will recognize the bank’s legacy brand as a provider of teacher retirement programs. Allows you to lock your interest rate before you find a home to purchase. Offers a one-closing construction loan that allows for an 18-month building phase and long-term interest rate lock. Bank of England
While the name may seem to imply otherwise, every loan decision is made within the local branch. Claims to close loans “50% faster than the national average.” Offers bond loans to assist with closing costs. DHI Mortgage
Started as the in-house lender for a leading homebuilder. Offers a program to help credit-challenged buyers qualify for homeownership. Offers an online pre-qualification form to start the homebuying process. More from NerdWallet How much house can you afford? Compare Florida mortgage rates Calculate your mortgage payment Last updated on January 21, 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 Jacksonville Mortgage Lenders of 2021
Rocket Mortgage, LLC: Best for online convenienceloanDepot: Best for customer serviceNavy Federal: Best for military members and their familiesPrimeLending: Best for closing costs assistanceSunTrust (Truist): Best for first-time home buyersFlagstar: Best for a wide variety of loan productsBank of America: Best for a wide variety of loan productsChase: Best for a wide variety of loan productsUSAA: Best for military members and their familiesCaliber: Best for first-time home buyers About the author
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