10 Best San Francisco Mortgage Lenders of 2022 - NerdWallet Advertiser disclosure
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San Francisco mortgage lenders vary by size and capabilities. These are highly rated lenders in various home loan categories for Bay Area home buyers.NerdWallet Jan 6, 2022 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. San Francisco mortgage lenders are about as varied as Bay Area homes. Whether cutting-edge modern or button-down traditional, the capabilities of San Francisco mortgage lenders vary nearly as much as the features of a postmodern home in SoMa compared with a Queen Anne in the Pacific Heights neighborhood. NerdWallet screened the capabilities of San Francisco mortgage companies in various categories — from national brands to leading local lenders. Here are the results. San Francisco mortgage lenders are about as varied as Bay Area homes. Whether cutting-edge modern or button-down traditional, the capabilities of San Francisco mortgage lenders vary nearly as much as the features of a postmodern home in SoMa compared with a Queen Anne in the Pacific Heights neighborhood. NerdWallet screened the capabilities of San Francisco mortgage companies in various categories — from national brands to leading local lenders. Here are the results. Best San Francisco 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 PNC NMLS#446303Learn more at PNC 5.0/5 Best for government-backed loans620 VA:VariesUSDA:640JUMBO:680FHA:620CONVENTIONAL:6203%Minimum down payment varies by mortgage loan type.Learn more at PNC 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 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 SoFi NMLS#1484615Read review 4.0/5 Best for first-time home buyers620 JUMBO:700CONVENTIONAL:6203%SoFi requires a 3% down payment from first-time home buyers for mortgage loans.Read review Chase NMLS#399798Read review 4.0/5 Best for refinancing620 CASHOUT:N/ACONVENTIONAL:620FHA:620JUMBO:N/AVA:620N/ARead review Bank of America NMLS#399802Read review 4.5/5 Best for traditional banks660 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 government-backed loans620 JUMBO:N/AVA:620FHA:580CONVENTIONAL:6205%LoanDepot offers conventional loans with as little as 5% down.Read review Citibank NMLS#412915Read review 4.5/5 Best for traditional banks N/A3% Citibank offers down payments as low as 3% through its HomeRun loan program.Read review Flagstar NMLS#417490Read review 5.0/5 Best for home equity products680 HEL:680HELOC:680N/ARead review US Bank NMLS#402761Read review 4.5/5 Best for home equity products620 HELOC:620HEL:620N/ARead reviewLearn more at PNC PNC NMLS#446303
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:VariesUSDA:640JUMBO:680FHA:620CONVENTIONAL:620 Min. down payment3% Minimum down payment varies by mortgage loan type. View details Learn moreat PNC View details Why we like it Good for: borrowers with low-to-moderate incomes or limited down payments. PNC offers several low-down-payment loans, including one with no mortgage insurance. Pros Posts current mortgage rates on its website. Has an online application for mortgage preapproval and a digital tool to track application progress. Offers several affordable loan options, including FHA, VA, USDA and the PNC Community Loan. Cons Doesn't offer renovation mortgages. In-person service is not available in every state.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 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 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
4.0NerdWallet 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 CASHOUT:N/ACONVENTIONAL:620FHA:620JUMBO:N/AVA:620 National / regionalNational 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 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 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 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 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.National / regionalNational Max LTV89% Min. credit score680 HEL:680HELOC:680 View details Read reviewView details Min. credit score 680 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 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.National / regionalNational Max LTV80% Min. credit score620 HELOC:620HEL:620 View details Read reviewView details Min. credit score 620 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: See the best California mortgage lenders Local mortgage lenders in San Francisco
If you want to include a local lender or two in your search for the best mortgage, these San Francisco lenders are among the highest-volume mortgage makers in the city. The lenders have not been reviewed by NerdWallet. First Republic
Offers single-family, co-op and condo loans. All-in-one construction-to-permanent loans finance the building of your dream home. Underwrites vacation and second-home loans. Union Bank
No-closing-cost options reduce out-of-pocket fees. Offers loan options that don't require mortgage insurance. Home hunters can get pre-qualified over the phone “in minutes.” Fremont Bank
Combo loans allow the purchase of a property using a primary mortgage and a HELOC. Portfolio loans provide underwriting flexibility for higher-value homes. HELOCs feature no application fee or closing costs, subject to some restrictions. American Pacific Mortgage
Over 100 branches in Northern California. An independent mortgage banking firm established in 1996. Application documents are available online for downloading. More from NerdWallet How much house can you afford? Compare California mortgage rates Calculate your mortgage payment Last updated on January 6, 2022 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 Francisco Mortgage Lenders of 2022
PNC: Best for government-backed loansQuicken Loans: Best for first-time home buyersGuaranteed Rate: Best for refinancingSoFi: Best for first-time home buyersChase: Best for refinancingBank of America: Best for traditional banksloanDepot: Best for government-backed loansCitibank: Best for traditional banksFlagstar: Best for home equity productsUS Bank: Best for home equity products About the author
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