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PrimeLending mortgage review

This versatile lender offers over 400 mortgage types and down payment assistance programs but no home equity loans or HELOCs.

  • Choose this lender for closing cost assistance.
  • Choose another lender if you want a home equity loan or HELOC.
  • A good option for first-time homebuyers.
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Loan products offeredConventional, Jumbo, FHA, VA, USDA, Refinance
Minimum credit scoreConventional: 620
FHA: 620
Jumbo: 740
Minimum down payment (Conventional)3%
State availabilityAvailable in all states
NMLS #13649

PrimeLending requirements

To find out if you’re eligible for a PrimeLending home loan, visit the company’s website. Basic eligibility for a mortgage with PrimeLending includes:

  • Two years’ history of employment.
  • A FICO credit score of 620 or higher.
  • No history of bankruptcy in the past two years.


When applying for a mortgage with PrimeLending, be prepared to provide copies of the following documentation or information:

  • Driver’s license and Social Security card
  • Employment history for the past two years
  • W-2s for the past two years
  • Tax returns for the past two years
  • Last two most recent pay stubs
  • Last three months’ checking and saving account statements
  • Quarterly or semi-annual statements for investment and retirement accounts
  • Residency history for the past two years
  • Sources of funds used for the down payment
  • Copy of sales contract when ratified

For self-employed borrowers:

  • Last two years’ tax returns with all schedules
  • Current profit and loss (P&L) statement and balance sheet
  • Corporate/partnership tax returns for the past two years if you own 25% or more of the company
  • Last two years’ W-2s and 1099 forms

Costs and fees

PrimeLending doesn’t charge an application or origination fee. You’re only required to pay closing costs, which typically range from 1.5% to 5% of the total loan amount. Closing costs may include:

  • Appraisal
  • Home inspection
  • Private mortgage insurance (PMI)
  • Homeowner’s insurance
  • Title search and insurance
  • Attorney’s fees if applicable
  • Recording fees
  • Courier fees
  • Taxes

How to apply for a mortgage with PrimeLending

To apply for a PrimeLending home loan:

  1. Go to the PrimeLending website and select Connect with a Loan Expert.
  2. Enter your city, state or ZIP code in the search box to locate loan officers in your area.
  3. View the list of available loan officers. Choose a loan officer and go to their personal website.
  4. Hit Apply Now to register for a new account. Then, confirm the account from your email and log in to your account.
  5. Fill out the application by entering the property information, loan information, your Social Security number, personal information, current address, coborrower information if any, employment and income history and your assets and liabilities.
  6. Answer the disclosure and demographic questions, review the information and submit.
  7. Upload any requested documents and wait for your designated loan officer to contact you about the next steps.

Alternatively, call PrimeLending directly on 800-317-7463 to speak with a loan officer directly and get prequalified over the phone.

What types of mortgages can I get through PrimeLending?

  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
This company accepts mortgage refinance applications.

Other mortgage products PrimeLending offers

PrimeLending also offers these specialized types of mortgages:

  • Low down payment loans. PrimeLending offers a range of low down payment home loans, including:
    • Conventional 97. This program is available through Fannie Mae or Freddie Mac and offers good credit homebuyers loans for as little as 3% down.
    • HomeReady. This Fannie Mae-backed program allows down payments as low as 3% plus discounts on interest rates and PMI for eligible borrowers.
    • HomePossible. This Freddie Mac-backed program allows down payments as low as 3% and for single-family homes, coborrowers don’t need to live in the home.
  • State down payment assistance (DPA) programs. PrimeLending can help you find a program from among thousands of state-specific DPA programs, including the NeighborhoodEdge program.
  • Neighborhood Edge Closing Cost Assistance. This program offers up to $2,000 in closing cost assistance for FHA, VA and USDA loans. The property must be in a low-to-moderate census tract area.
  • New construction loans. With this loan option, you can combine the cost of construction and a permanent mortgage into a single loan with one set of closing costs.
  • 15 types of renovation loans. PrimeLending offers 15 different types of renovation loans for different uses, including the FHA203(k).
  • FHA 203(k). A renovation loan with requirements similar to FHA loans. Choose from 203(k) Full/Standard or 203(k) Limited for projects of $35,000 and under.
  • Medical professional loans. Medical loans offer special benefits to doctors and other medical professionals, including higher loan-to-value (LTV) ratios and no PMI options.
  • Multi-unit, manufactured home and condo loans. PrimeLending’s conventional loans can be used for multi-family properties, manufactured homes and condominiums.
  • Mortgage refinancing. Conventional and government-insured refinance loan options to replace an existing mortgage. PrimeLending also offers cash-out refinancing, so you can borrow more than what you currently owe.
  • Alternatives to PrimeLending mortgage

    PrimeLending offers a plethora of mortgage options compared to other lenders, including specialized loans covering everything from low-income borrowers to renovators to medical professionals. But the company doesn’t offer home equity loans or HELOCs. So if you’re a current homeowner looking to tap into your home’s equity, you’ll need to look at alternatives to PrimeLending.

    One option is to go with an established lender like US Bank, which offers both home equity loans and HELOCs with flexible options and no closing costs. But borrowers who don’t live near a branch location are limited to only HELOCs.

    Borrowers who prefer a fully digital experience might consider Figure. This startup offers HELOCs with flexible loans and terms, a speedy application process and quick funding. But it’s not yet available in every state, and its origination fees can sometimes be higher than other lenders.

    Perhaps the easiest way to find the exact mortgage product you’re looking for is through an online mortgage marketplace like LendingTree. After providing details about the type of product you’re seeking, LendingTree provides you with several competing offers to compare. You simply choose the loan that works best for you.

    Also, compare lenders by loan product, state availability and credit score. Select See rates to provide the company with basic property and financial information for personalized rates.

    Name Product Loan products offered State availability Min. credit score
    (NMLS #1429243)
    Conventional, Jumbo, Refinance
    AL, AR, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, MD, ME, MI, MN, MS, MT, NC, NE, NJ, NM, OH, OK, OR, PA, SC, TN, VA, WA, WI, WV
    Preapproval in minutes and closing in as little as 3 weeks with no origination fees.
    (NMLS #1121636)
    Conventional, Home equity, Refinance
    Not available in: HI, MO, NM, NY, WV
    No hidden fees, multiple loan terms, and member discounts available.
    Rocket Mortgage
    (NMLS #3030)
    Rocket Mortgage
    Conventional, Jumbo, FHA, VA, Refinance
    Available in all states
    Streamline your mortgage from quote to final payment — all from your computer or phone.
    (NMLS #330511)
    Conventional, Jumbo, FHA, Refinance
    Not available in: HI, MA, MN, NV, NH, VT, VA
    Online preapproval in minutes and no origination fees with this direct lender.
    (NMLS #1136)
    Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
    Available in all states
    Connect with vetted home loan lenders quickly through this online marketplace.

    Compare up to 4 providers

    PrimeLending reviews and complaints

    As of June 2021, PrimeLending has an exceptional 4.99 out 5 rating on Zillow from over 19,200 reviewers. Reviews are overwhelmingly positive, with customers reporting being thrilled with the service, communication and availability of their loan officers throughout the application process. Most customers reported that fees and rates were “as expected” or “lower than expected.”

    PrimeLending has been accredited with the Better Business Bureau (BBB) since 2015. It has an A+ business rating, a 1.06 out of 5 customer rating from 16 customers as of June 2021 and 35 complaints closed in the past three years. While the vast majority of customers online report positive experiences with PrimeLending, some have mentioned poor communication and higher-than-expected mortgage payments after closing.

    PrimeLending pros and cons

    PrimeLending might be a good choice for your mortgage and refinancing needs but weigh the pros and cons first.


    • Simplified lending process. PrimeLending claims that its home loans “are much simpler to apply and qualify for, with less paperwork, and you’ll have fewer rules and regulations to meet.”
    • Offers rate locks and float-down options. Lets you lock in your rate for free for 90 days, even if rates go up. The float-down option lets you lock your rate and get a lower one if rates drop.
    • Down payment assistance. PrimeLending offers a robust selection of down payment assistance programs for first-time and low-income homebuyers.


    • No home equity loans. PrimeLending doesn’t offer any loans that let you borrow money by tapping into your home’s equity.
    • Interest rates not listed. PrimeLending doesn’t advertise its current interest rates on its website. You’ll need to fill out an application or contact a loan officer for more information.
    • Loans are sold. PrimeLending sells its home loans on the secondary market after closing. A new servicer will handle payments after you work with PrimeLending.

    What is PrimeLending?

    PrimeLending was founded in 1986 and is headquartered in Dallas, Texas. It operates under the parent company PlainsCapital Company. The company has a team of about 2,500 employees that offers home loans across the United States and in the District of Columbia.

    In 2019, PrimeLending won the STRATMOR Group’s MortgageSAT Best-in-Class Lender Award in the Online Tools category.

Review by

Kimberly Ellis is a writer at Finder. She hails from New York City with a BA from Queens College and a New York State teaching certificate. After teaching in both public and private schools, Kimberly decided to take the world by storm and dive into the media industry — where she covers everything from home loans and investing to K–12 education and shopping. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick.

Expert review

PrimeLending is a versatile, highly rated lender with over 400 mortgage options for a range of homebuyers with a variety of needs. It also offers down payment programs and cost assistance programs in low-tract census areas. But it doesn’t offer home equity loans or HELOCs for those looking to tap into their home’s equity.

If PrimeLending doesn’t have what you need, compare more lenders to find the right one for you.

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