10 Best Missouri Mortgage Lenders of 2021 - NerdWallet Advertiser disclosure
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Searching for the best Missouri mortgage lender? See our picks for the top lenders in various categories, including borrowers who are first-time home buyers, want a low down payment or seek the convenience of an online process.NerdWallet Jan 26, 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. Finding the right Missouri mortgage lender is important when buying a home, but it can feel overwhelming. If comparing credit requirements, interest rates and lender fees makes your head spin, NerdWallet is here to help. We researched the Show Me State’s leading mortgage lenders, then matched the best ones to five specific borrower needs. Whether you hope to buy a condo in St. Louis, a split-level in Kansas City or a farmhouse in Excelsior Springs, consider these lenders for your mortgage needs. Finding the right Missouri mortgage lender is important when buying a home, but it can feel overwhelming. If comparing credit requirements, interest rates and lender fees makes your head spin, NerdWallet is here to help. We researched the Show Me State’s leading mortgage lenders, then matched the best ones to five specific borrower needs. Whether you hope to buy a condo in St. Louis, a split-level in Kansas City or a farmhouse in Excelsior Springs, consider these lenders for your mortgage needs. Best Missouri 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 NBKC NMLS#409631Learn more at NBKC 5.0/5 Best for online experience620 CONVENTIONAL:620FHA:620JUMBO:N/AVA:5803%NBKC offers conventional loans for as little as 3% down.Learn more at NBKC New American Funding NMLS#6606Learn more at New American Funding 4.5/5 Best for USDA loans640 FHA:500JUMBO:N/AUSDA:640VA:500CONVENTIONAL:620N/ALearn more at New American Funding 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 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 Fairway Independent Mortgage NMLS#2289Learn more at Fairway Independent Mortgage 3.5/5 Best for USDA loans620 CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:640N/ALearn more at Fairway Independent Mortgage Bank of America NMLS#399802Read review 4.5/5 Best for low down payments660 CONVENTIONAL:660FHA:600JUMBO:720VA:6205%Bank of America offers down payments as low as 3% through its Affordable Loan Solution mortgage program.Read review Veterans First Mortgage NMLS#449042Read review 3.5/5 Best for veterans660 FHA:620VA:660USDA:6200%Veterans First offers VA loans with as little as 0% down.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 review Carrington NMLS#2600Read review 4.5/5 Best for low down payments620 VA:500CONVENTIONAL:620FHA:500JUMBO:N/AUSDA:5505%Carrington Mortgage Services offers conventional loans for as little as 5% down.Read review NBKC NMLS#409631Learn more at NBKC 4.0/5 Best for veterans580 CONVENTIONAL:620FHA:620JUMBO:N/AVA:5800%On VA loans, NBKC offers down payments as low as 0%.Learn more at NBKCLearn more at NBKC NBKC NMLS#409631
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 CONVENTIONAL:620FHA:620JUMBO:N/AVA:580 Min. down payment3% NBKC offers conventional loans for as little as 3% down. View details Learn moreat NBKC View details Why we like it Good for: borrowers who want low rates and fees and an online experience with phone support. VA loans are an emphasis. Pros Offers government-backed loans and some harder-to-find products, such as construction loans and specialty mortgages for pilots. Offers low rates and fees compared with other lenders, according to the latest Federal data. Displays customized rates, with fee estimates, without requiring contact information. Cons HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.Read Full 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 score640 FHA:500JUMBO:N/AUSDA:640VA:500CONVENTIONAL:620 National / regionalNational 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 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 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 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 National / regionalNational 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 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 Veterans First Mortgage NMLS#449042
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 score660 FHA:620VA:660USDA:620 Min. down payment0% Veterans First offers VA loans with as little as 0% down. View details Read reviewView details Why we like it Good for: veterans and active military members interested in a VA, FHA or USDA home loan. Pros Specializes in VA loans and working with military borrowers. Offers several low-down-payment government loan options. Cons You can't shop rates online. Doesn't offer conventional home loans or renovation mortgages.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 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 ReviewLearn more at NBKC NBKC NMLS#409631
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 score580 CONVENTIONAL:620FHA:620JUMBO:N/AVA:580 Min. down payment0% On VA loans, NBKC offers down payments as low as 0%. View details Learn moreat NBKC View details Why we like it Good for: borrowers who want low rates and fees and an online experience with phone support. VA loans are an emphasis. Pros Offers government-backed loans and some harder-to-find products, such as construction loans and specialty mortgages for pilots. Offers low rates and fees compared with other lenders, according to the latest Federal data. Displays customized rates, with fee estimates, without requiring contact information. Cons HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.Read Full Review More from NerdWallet Calculate your Missouri mortgage payment Best Kansas City mortgage lenders Find Missouri first-time home buyer programs Last updated on January 26, 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 Missouri Mortgage Lenders of 2021
NBKC: Best for online experienceNew American Funding: Best for USDA loansRocket Mortgage, LLC: Best for online experienceQuicken Loans: Best for first-time home buyersFairway Independent Mortgage: Best for USDA loansBank of America: Best for low down paymentsVeterans First Mortgage: Best for veteransFlagstar: Best for first-time home buyersCarrington: Best for low down paymentsNBKC: Best for veterans About the author
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