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Published January 10, 2023

You deserve the best in mortgage

Whether it’s your first or fifth time buying a home or refinancing, getting a mortgage is a process. Because a mortgage is likely the largest loan you’ll ever take on, it pays to have the right lender in your corner. To help you determine the one that fits your needs, we reviewed and scored more than 85 lenders, including some of the biggest banks and brand names, credit unions and even regional players, to choose the best lenders across categories like jumbo loans and refinancing.

These are the winners of the 2023 Bankrate Awards for Best Mortgage Lenders.

How we rated these banks

  • Bankrate assessed lenders for affordability, including APR (which encompasses fees and interest rate) and diversity of loan products.
  • We considered factors such as convenience and speed in terms of approvals and closings.
  • We also evaluated the borrower’s experience, focusing on the application process and access to customer service.

Best mortgage lender overall

PNC Bank

PNC Bank

Learn more in our Bankrate review
Highlights Available in all 50 states Apply in-person or online Customer service seven days a week
PNC Bank offers a robust slate of mortgage products, including conventional and government-insured loans (FHA, VA and USDA), as well as jumbo loans. Combining convenience with service, PNC rates near the top of J.D. Power’s customer satisfaction rankings for 2022.
  • Strong customer service
  • Branch and online service
  • Online personalized rate tool

Best mortgage lender for first-time homebuyers



Learn more in our Bankrate review
Highlights Apply via app, online or by phone Designated loan officer Real-time prequalification and fast preapproval
Homefinity sets itself apart with fast underwriting. The lender also distinguishes itself as an experienced hand at low-down payment conventional loans, FHA and VA loans, three popular choices for first-time homebuyers.
  • Bench of low-down payment mortgages
  • Participates in down payment assistance programs
  • Loan officers available around the clock

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Best mortgage lender for refinancing

U.S. Bank

U.S. Bank

Learn more in our Bankrate review
Highlights Apply in-person, online or by phone Closing costs credits for banking customers E-closing functionality
Combining speed and transparency, U.S. Bank can help you refinance your mortgage in an average of 45 days, and on the bank’s app, you can shop for financing options, track your application progress, complete some e-closing steps and make payments. The lender offers both traditional rate-and-term refinances and cash-out refis.
  • Countrywide footprint
  • Online rate tool
  • Also offers home equity lines of credit and loans

Best mortgage lender for borrowers with low or bad credit

Cardinal Financial

Cardinal Financial

Learn more in our Bankrate review
Highlights Prequalifications and preapprovals Wide range of loans First-time buyer and down payment aid programs
Reflecting its focus on credit-challenged borrowers, Cardinal Financial’s credit score minimums are significantly lower than those of other lenders, at 580 for conventional and USDA loans and 550 for FHA and VA loans. If you don’t have a credit score, the lender also has the ability to manually underwrite government-insured loans.
  • Available nationwide
  • Offers more flexible FHA, VA and USDA loans, along with many other loan options
  • Excellent track record with past customers

Best VA mortgage lender

Veterans United logo

Veterans United Home Loans

Learn more in our Bankrate review
Highlights Specializes in VA loans 24/7 customer service Free credit counseling for service members
Veterans United is the leader in the VA loan sector, with a focus on working with active and retired military members and their families. Although the lender’s branch locations are limited, it offers around-the-clock customer service by phone and through its website. To keep in touch with the needs of VA borrowers, Veterans United even has an advisory board made up of career enlisted officers.
  • Experienced in VA loans
  • Very competitive pricing
  • Credits available for returning borrowers

Best no-fee mortgage lender

Lowrates logo

Learn more in our Bankrate review
Highlights Complete underwriting within 24 hours Closings in as little as 20 days Down payment assistance programs is available in the majority of states and Puerto Rico, with no fees for borrowers and one of the market’s most diverse product suites. The lender’s "TRU Approval" process expedites full underwriting to less than 24 hours. says its 20-day turnarounds are among the fastest in the mortgage industry.
  • No lender fees
  • Fully online application process
  • Updates mortgage and refinance rates online daily

Best FHA mortgage lender

Mr. Cooper

Mr. Cooper

Learn more in our Bankrate review
Highlights Available in all states Easy-to-use app with tracking Virtual document submission
Mr. Cooper is one of the largest FHA lenders in the U.S. Its mobile app makes it convenient to apply online, monitor your application status and make monthly payments. Mr. Cooper’s Digital Loan Tracker offers transparency during the approval process.
  • Experienced in FHA loans
  • Available in every state and some U.S. territories
  • Combination of app and website helps streamline loan process overall

Best lender for jumbo loans

Ally Bank logo

Ally Bank

Learn more in our Bankrate review
Highlights Online preapprovals in minutes No loan fees Showcases current rates online
Ally Bank offers jumbo loans up to $4 million, requiring just 10 percent down if you’re an otherwise well-qualified borrower. In addition, the bank doesn’t charge lender fees and posts detailed rate information on its website, often updated throughout the day. Ally places near the top of J.D. Power’s customer satisfaction rankings for 2022.
  • Relatively high jumbo loan amounts
  • Lower jumbo down payment requirements
  • Convenient digital experience