Online mortgage lenders

Online lenders can deliver competitive rates and features.

Last updated:

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

Online lenders are a popular option for homebuyers on a strict budget or anyone who wants to save money. With competitive rates, a wide range of products and easy-to-use platforms, they can be a great alternative to traditional banks.

Why we like:

A nontraditional lender offering impartial guidance on a range of loans.

  • Wide selection of mortgages
  • High loan amounts
  • No prepayment fee

Why we like: LoanDepot

A nontraditional lender offering impartial guidance on a range of loans.

  • Its "no steering" policy holds loan officers to honest, impartial guidance.
  • Use online tools to securely verify application information.
  • Complete the homebuying process online or find a local loan agent.
  • Minimum credit score: 620

Compare mortgage lenders online

Name Product Min. credit score State availability Loans offered
New American Funding
Not available in: HI, NY
Conventional , Refinance, Jumbo, HELOC, FHA, VA, USDA, Reverse
Loan officers work with you to find the right mortgage to fit your lifestyle and budget.
Axos Bank
Available in all states
Conventional, Refinance, Jumbo, Home Equity, Fixed, Adjustable, FHA, VA, USDA
Explore a full suite of home loan options with this direct online lender.
Figure Refinance
Apply in minutes for a cash-out refinance quote that won't hurt your credit.
Not available in: AZ, HI, MO, NV, NY, RI, UT, WA, WV
Conventional, Refinance, Jumbo
Prequalify in minutes and then compare home loan options from several top online lenders.
Available in all states
Conventional, Refinance, Home Equity, HELOC, Jumbo, Reverse, FHA, VA, USDA
Connect with vetted home loan lenders quickly through this online marketplace.
Available in all states
Conventional, Refinance, Home Equity, Jumbo, Fixed, Adjustable, FHA, VA, USDA
A nontraditional lender offering impartial guidance on a range of loans.
Rocket Mortgage
Available in all states
Conventional, Refinance, Jumbo, FHA, VA, USDA
Streamline your mortgage from quote to final payment — all from your computer or phone.

Compare up to 4 providers

Are mortgages from online lenders safe?

When researching online lenders, it’s possible you won’t be familiar with some of the brands. However, you can rest easy knowing that online lenders are often backed by large brick-and-mortar banks or even accredited on their own.

With the backing of large, well-established brands, you can be certain the vast majority of online lenders are stable. However, if you’re concerned about the safety of an online lender, you should check that they’re accredited with the Better Business Bureau (BBB). The BBB gives every registered company a rating from A+ to F and reports any consumer complaints.

Also, keep in mind that when you take out a mortgage, the lender is the one actually taking the risk. In the extremely unlikely event an online lender closes up shop, your mortgage will usually be sold to another lender. This should have little to no effect on your monthly payments, and the only change will be the company servicing your loan.

Tell me more about some of these online lenders

Here’s a little more information about some of the online lenders in our table, including which organizations fund or support them, and the digital innovations they offer:

  • First Internet Bank. The first FDIC-insured bank to operate entirely online, First Internet Bank is headquartered in Indiana and has an A+ rating from the BBB.
  • LoanDepot. The nation’s second-largest non-bank lender, LoanDepot has funded more than $150 billion in loans since launching in 2015 and also has an A+ rating from the BBB.
  • Quicken Loans. Another A+ company, Quicken Loans is the nation’s largest mortgage lender, and JD Power ranked them top in the nation for client satisfaction among mortgage lenders for the past five years in a row.
  • Rocket Mortgage. This is Quicken Loan’s fully-online mortgage platform.
  • LendingTree. The only platform on our list not accredited with the BBB, LendingTree isn’t a provider of loans, but rather a platform to find them. It partners with over 1,500 lenders and can connect you to the lender that offers the best mortgage for you. The sheer number of lenders means it’s one of the best places to get quotes, but you’ll need to do your own research on any lender before signing a mortgage and always read the fine print.

Why should I choose an online lender over a big bank?

Because they don’t have the overheads of operating branches, online lenders can pass their savings on to you in the form of much lower interest rates. Many online lenders also offer innovative products and have a wide product range to suit a variety of borrowers.

Online lenders also often have easy-to-use platforms that can help you speed through the application process. And with a heavy focus on tech development, they’re often able to offer faster approvals than traditional lenders. Moreover, they can offer the ease and convenience of completing the mortgage application process from the comfort of your own home, rather than having to visit a bank branch.

Are there any downsides to going with a digital lender?

  • Land loans. Getting a loan to buy a piece of land to build a new home on is usually much more difficult than buying a home that’s already there. If you plan to buy a piece of land, you might have to compare more lenders to find one willing to take the risk.
  • The personal touch. Many online lenders make sure you have plenty of ways to get in touch, including calling, emailing and even live chatting. However, if you’d prefer face-to-face communication with your lender, then an online lender might not be able to meet your needs.

Bottom line

Online lenders have been gaining in popularity over the last decade, and it’s easy to see why. Finding a mortgage online gives you the opportunity to research different lenders and compare your options to find the best mortgage for you. Choosing an accredited lender with good reviews and great interest rates can help you feel confident that you made the right decision.

Frequently asked questions

Image: Shutterstock

Read more on this topic

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site