9 best mortgage lenders in Washington

Over 7.6 million people call Washington State home, and around two-thirds of residents own their property. Houses in the Evergreen State are pricier than the national average, with a median home value of $458,313 as of January 2021.

According to Zillow, house prices in Washington have risen 12.1% in the past year and are expected to jump another 11.3% by the end of 2021. If you’re looking to buy a home in Washington, our top nine lender picks can help you find the best mortgage for your needs.

Best Washington mortgage lenders in 2021

Best online experience

Better

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Looking for a digital lender with no origination fees and fast preapproval? If so, Better’s mortgage process may be the right fit for you.

Unlike traditional lenders, Better’s online application is designed to link directly to your financial accounts, so you can get a mortgage preapproval in minutes, not days. In an active housing market like Washington’s, Better’s digitally verified preapproval generally holds more weight for some sellers.

• Pros and cons

  Pros

  • Pay fewer fees. Better doesn't charge lender fees or commissions, helping you to save money on your loan.
  • Digital application. Better offers a fully electronic application process from start to finish, including funding.
  • Lender credits. Receive up to $2000 in lender credits if you use a real estate agent referred by Finche, LLC, dba BRE or dba Better Home Services.

  Cons

  • No mobile app. While a digital company, Better doesn't offer a mobile app.
  • Limited types of loans. Better has FHA loans but doesn't offer VA or USDA loans.
  • Login credentials. You may have to provide login credentials to your bank and tax accounts.

• More details

  Loan products offered	Conventional, Jumbo, FHA, Refinance
  Minimum credit score	Refinance: 680 All other loans: 620
  Minimum down payment (Conventional)	3%
  State availability	Not available in: HI, MA, MN, NV, NH, VT, VA
  NMLS #	330511

Pros

• Pay fewer fees. Better doesn't charge lender fees or commissions, helping you to save money on your loan.
• Digital application. Better offers a fully electronic application process from start to finish, including funding.
• Lender credits. Receive up to $2000 in lender credits if you use a real estate agent referred by Finche, LLC, dba BRE or dba Better Home Services.

Cons

• No mobile app. While a digital company, Better doesn't offer a mobile app.
• Limited types of loans. Better has FHA loans but doesn't offer VA or USDA loans.
• Login credentials. You may have to provide login credentials to your bank and tax accounts.

• More details

  Loan products offered	Conventional, Jumbo, FHA, Refinance
  Minimum credit score	Refinance: 680 All other loans: 620
  Minimum down payment (Conventional)	3%
  State availability	Not available in: HI, MA, MN, NV, NH, VT, VA
  NMLS #	330511

Minimum credit score	Refinance: 680 All other loans: 620

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Best marketplace

LendingTree

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Want multiple mortgage quotes with minimum effort? LendingTree is the perfect solution. All you need to do is fill out a form with some basic information, and this free service will search its database of 1,500+ partners. Instead of having to spend time researching loan programs and eligibility yourself, LendingTree automatically matches you with mortgage lenders willing to work with your goals and credit profile.

• Pros and cons

  Pros

  • Won't affect your credit score. LendingTree needs permission to pull your credit score, but it won't affect your credit rating.
  • Competitive loan offers. Because LendingTree's partners compete for your business, you may get more competitive offers.
  • Finds the lowest rates. LendingTree automatically searches for lower interest rates and notifies you when a better rate is found.

  Cons

  • Contact information is shared. Your contact information will be sent to various companies after signing up, and you may receive multiple calls and emails.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
  Minimum credit score	Conventional: 620 FHA: 500 VA: 620 USDA: 640 Jumbo: 800
  Minimum down payment (Conventional)	3%
  State availability	Available in all states
  NMLS #	1136

Pros

• Won't affect your credit score. LendingTree needs permission to pull your credit score, but it won't affect your credit rating.
• Competitive loan offers. Because LendingTree's partners compete for your business, you may get more competitive offers.
• Finds the lowest rates. LendingTree automatically searches for lower interest rates and notifies you when a better rate is found.

Cons

• Contact information is shared. Your contact information will be sent to various companies after signing up, and you may receive multiple calls and emails.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, USDA, Home Equity, HELOC, Reverse, Refinance
  Minimum credit score	Conventional: 620 FHA: 500 VA: 620 USDA: 640 Jumbo: 800
  Minimum down payment (Conventional)	3%
  State availability	Available in all states
  NMLS #	1136

Minimum credit score	Conventional: 620 FHA: 500 VA: 620 USDA: 640 Jumbo: 800

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Best for first-time homebuyers

Guild Mortgage

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Since 2008, Guild Mortgage has been helping new and existing homebuyers achieve the homeownership dream. The company has a wide range of loan products for first-time borrowers, including FHA loans and down payment assistance (DPA) programs to help reduce out-of-pocket costs for people with below-average incomes. So, if you’re a new homebuyer looking for a lender that’s willing to work with you and your circumstances, Guild Mortgage could be a great choice.

• Pros and cons

  Pros

  • DPA Program. Guild Mortgage's DPA program can increase your buying power and possibly help you avoid mortgage insurance requirements.
  • Help for first-time homebuyers. The Guild Mortgage website is chock full of articles, tools and calculators geared towards first-time homebuyers.
  • 17 Day Closing Guarantee. If your loan doesn't close in a timely manner after signing the sales contract, Guild Mortgage will reimburse you $500 in closing costs.

  Cons

  • Mixed customer reviews. While thousands of customers rate the company favorably, the Better Business Bureau has received several complaints against it.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, USDA, Reverse, Refinance
  Minimum credit score	Conventional: 600-620
  Minimum down payment (Conventional)	3%
  State availability	Not available in: NJ, NY
  NMLS #	3274

Pros

• DPA Program. Guild Mortgage's DPA program can increase your buying power and possibly help you avoid mortgage insurance requirements.
• Help for first-time homebuyers. The Guild Mortgage website is chock full of articles, tools and calculators geared towards first-time homebuyers.
• 17 Day Closing Guarantee. If your loan doesn't close in a timely manner after signing the sales contract, Guild Mortgage will reimburse you $500 in closing costs.

Cons

• Mixed customer reviews. While thousands of customers rate the company favorably, the Better Business Bureau has received several complaints against it.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, USDA, Reverse, Refinance
  Minimum credit score	Conventional: 600-620
  Minimum down payment (Conventional)	3%
  State availability	Not available in: NJ, NY
  NMLS #	3274

Minimum credit score	Conventional: 600-620

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Best for refinancing

Navy Federal Credit Union

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If you have been or are currently in the military, Navy Federal could be a smart choice for your refinancing needs. Offering a wide selection of refinance mortgage loans, you may be able to secure a better interest rate, remove your PMI with less than 20% down or get cash out for other needs.

If you’re looking to save, the Navy Federal Credit Union website makes it convenient to view current rates and run the numbers through its mortgage calculator so you can see what your new payment might be.

• Pros and cons

  Pros

  • Rate match guarantee. Navy Federal Credit Union promises that if you find a better rate, the company will match it or give you $1,000. Some conditions apply.
  • VA Streamline loan available. This refinancing option can be used to upgrade an existing VA loan with minimal out-of-pocket costs.
  • PMI may not be required. The credit union has several loan options that don't require PMI with less than 20% down.

  Cons

  • Must be a member. To get a refinance through Navy Federal, you or a family member must be associated with the armed forces, DoD or the National Guard.
  • Longer wait times. Due to an influx of applications, you may have to wait a bit longer with this lender.

• More details

  Loan products offered	Conventional, Jumbo, VA, Refinance, Home equity loan, HELOC
  Minimum credit score	Conventional: 620 Other loans: 580 or higher, depending on the loan type
  Minimum down payment (Conventional)	0%
  State availability	Available in all states
  NMLS #	399807

Pros

• Rate match guarantee. Navy Federal Credit Union promises that if you find a better rate, the company will match it or give you $1,000. Some conditions apply.
• VA Streamline loan available. This refinancing option can be used to upgrade an existing VA loan with minimal out-of-pocket costs.
• PMI may not be required. The credit union has several loan options that don't require PMI with less than 20% down.

Cons

• Must be a member. To get a refinance through Navy Federal, you or a family member must be associated with the armed forces, DoD or the National Guard.
• Longer wait times. Due to an influx of applications, you may have to wait a bit longer with this lender.

• More details

  Loan products offered	Conventional, Jumbo, VA, Refinance, Home equity loan, HELOC
  Minimum credit score	Conventional: 620 Other loans: 580 or higher, depending on the loan type
  Minimum down payment (Conventional)	0%
  State availability	Available in all states
  NMLS #	399807

Minimum credit score	Conventional: 620 Other loans: 580 or higher, depending on the loan type

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Most popular

BECU

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Boeing Employees Credit Union was founded in 1935 to help Boeing employees buy tools for their jobs. Today, the popular credit union has over one million members and numerous branches across Washington, offering a wide range of financial products and mortgages for both first-time and experienced homebuyers alike.

The good news is, anyone who lives in Washington State can become a BECU member of this community-minded credit union, but you must have above-average credit to qualify for a home loan.

• Pros and cons

  Pros

  • No origination fees. BECU doesn't charge an origination fee for any of its mortgage products.
  • Interest rates listed. The BECU website advertises its current interest rates for a range of home loan products.
  • Community-minded business. BECU is a nonprofit organization that has donated millions to local initiatives.

  Cons

  • No USDA loans. BECU doesn't offer United States Department of Agriculture (USDA) loans.
  • Higher interest rates. BECU's mortgage rates are higher than some of the other lenders we compared.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, Refinance, HELOC
  Minimum credit score	FHA - 600 Conventional - 620
  Minimum down payment (Conventional)	3%
  State availability	Only available in: AZ, CA, ID, IL, KS, MO, OR, PA, SC, WA
  NMLS #	490518

Pros

• No origination fees. BECU doesn't charge an origination fee for any of its mortgage products.
• Interest rates listed. The BECU website advertises its current interest rates for a range of home loan products.
• Community-minded business. BECU is a nonprofit organization that has donated millions to local initiatives.

Cons

• No USDA loans. BECU doesn't offer United States Department of Agriculture (USDA) loans.
• Higher interest rates. BECU's mortgage rates are higher than some of the other lenders we compared.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, Refinance, HELOC
  Minimum credit score	FHA - 600 Conventional - 620
  Minimum down payment (Conventional)	3%
  State availability	Only available in: AZ, CA, ID, IL, KS, MO, OR, PA, SC, WA
  NMLS #	490518

Minimum credit score	FHA - 600 Conventional - 620

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Best for customer service

Synergy One Lending

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If you’re looking for a highly rated lender, Synergy One Lending consistently ranks at the top. The company is known for its Modern Mortgage Experience, which allows you to apply for a loan over the phone, online or by using its S1 Connect app. Customers rave about the company on Zillow and other review sites, giving it high marks for customer service, efficiency, communication, professionalism and speed of services.

• Pros and cons

  Pros

  • Digital application process. Synergy One Lending can link directly to your financial accounts for immediate verification of assets.
  • S1 Connect app. This mobile app lets you apply over your phone, compare rates, upload documents, electronically sign, track your application and connect with your loan officer.
  • Eliminates guesswork. You can track your mortgage application in real-time using the S1 Connect app.

  Cons

  • Logins required for account verification. While optional, the account verification feature requires you to provide login credentials to your financial accounts.
  • Costs and fees not listed. This lender doesn't list its costs and fees online.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, USDA, Reverse, Refinance
  Minimum credit score	620
  Minimum down payment (Conventional)	3%
  State availability	AL, AR, AZ, CA, CO, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, MI, MN, MO, MS, MT, NE, NM, OH, OK, OR, SC, SD, TN, TX, UT, WA, WI, WY
  NMLS #	1907235

Pros

• Digital application process. Synergy One Lending can link directly to your financial accounts for immediate verification of assets.
• S1 Connect app. This mobile app lets you apply over your phone, compare rates, upload documents, electronically sign, track your application and connect with your loan officer.
• Eliminates guesswork. You can track your mortgage application in real-time using the S1 Connect app.

Cons

• Logins required for account verification. While optional, the account verification feature requires you to provide login credentials to your financial accounts.
• Costs and fees not listed. This lender doesn't list its costs and fees online.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, USDA, Reverse, Refinance
  Minimum credit score	620
  Minimum down payment (Conventional)	3%
  State availability	AL, AR, AZ, CA, CO, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, MI, MN, MO, MS, MT, NE, NM, OH, OK, OR, SC, SD, TN, TX, UT, WA, WI, WY
  NMLS #	1907235

Minimum credit score	620

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Best for a wide range of credit scores

Mr. Cooper

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Do you have less-than-stellar credit? Mr. Cooper may be able to help. Previously known as Nationstar Mortgage, Mr. Cooper offers a solid range of mortgage options, including FHA loans and the FHA streamline refinance loan with reduced paperwork requirements.

While the company isn’t rated #1 for customer service, it does offer customers the benefits of underwriting flexibility, a useful mobile app for making payments and a Close On Time guarantee.

• Pros and cons

  Pros

  • Handy mobile app. Customers like Mr. Cooper's mobile app, which can be used to track your home's equity and make no-fee digital payments.
  • Rate discounts. If you're an existing customer, you may be eligible for lower rates on a second home mortgage or refinance.
  • Doesn't sell its loans. If you get a loan through Mr. Cooper, you don't need to worry about your loan being sold to another company.

  Cons

  • Mixed reviews. Mr. Cooper has an average rating of 4.2 out of 5 on ConsumerAffairs.com, with some customers complaining about poor service.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, Refinance
  Minimum credit score	Conventional: 620
  Minimum down payment (Conventional)	5%
  State availability	Available in all states
  NMLS #	2119

Pros

• Handy mobile app. Customers like Mr. Cooper's mobile app, which can be used to track your home's equity and make no-fee digital payments.
• Rate discounts. If you're an existing customer, you may be eligible for lower rates on a second home mortgage or refinance.
• Doesn't sell its loans. If you get a loan through Mr. Cooper, you don't need to worry about your loan being sold to another company.

Cons

• Mixed reviews. Mr. Cooper has an average rating of 4.2 out of 5 on ConsumerAffairs.com, with some customers complaining about poor service.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, Refinance
  Minimum credit score	Conventional: 620
  Minimum down payment (Conventional)	5%
  State availability	Available in all states
  NMLS #	2119

Minimum credit score	Conventional: 620

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Best rates

Summit Funding

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If you’re looking for a low interest rate mortgage in Washington, Summit Funding could be your ticket to a lower payment. It has the lowest interest rates of all the lenders we compared in Washington and features a well-designed website for anyone looking to start the loan application process.

Summit Funding also offers a range of loan programs, including FHA, VA, USDA loans, as well as Jumbo and reverse mortgage loans.

• Pros and cons

  Pros

  • Low down payment loans. Summit Funding offers loans for owner-occupied properties with as little as 3% down.
  • Good customer reviews. The company has a 4.85 out of 5 rating from SocialSurvey, with customers reporting being happy with the service, communication and expertise provided.
  • Reverse mortgages. Summit Funding offers reverse mortgages in addition to its standard loans.

  Cons

  • No HELOCs. Summit Funding doesn't offer home equity lines of credit.
  • Rates not listed online. Summit Funding doesn't disclose its interest rates or fees online. You'll need to contact the company for more information.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, USDA, Reverse, Refinance
  Minimum credit score	Conventional: 620 FHA: 580 VA: 620 USDA: 620 Jumbo: 680
  Minimum down payment (Conventional)	3%
  State availability	Not available in: AK, CT, IA, MA, MT, NY, ND, PA, RI, SD, WV

Pros

• Low down payment loans. Summit Funding offers loans for owner-occupied properties with as little as 3% down.
• Good customer reviews. The company has a 4.85 out of 5 rating from SocialSurvey, with customers reporting being happy with the service, communication and expertise provided.
• Reverse mortgages. Summit Funding offers reverse mortgages in addition to its standard loans.

Cons

• No HELOCs. Summit Funding doesn't offer home equity lines of credit.
• Rates not listed online. Summit Funding doesn't disclose its interest rates or fees online. You'll need to contact the company for more information.

• More details

  Loan products offered	Conventional, Jumbo, FHA, VA, USDA, Reverse, Refinance
  Minimum credit score	Conventional: 620 FHA: 580 VA: 620 USDA: 620 Jumbo: 680
  Minimum down payment (Conventional)	3%
  State availability	Not available in: AK, CT, IA, MA, MT, NY, ND, PA, RI, SD, WV

Minimum credit score	Conventional: 620 FHA: 580 VA: 620 USDA: 620 Jumbo: 680

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Best regional lender

Salal Credit Union

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Originally founded in 1948 for Group Health employees, Salal Credit Union membership is now open to anyone who lives or works in Washington State. The credit union offers a wide range of financial products and mortgage loans, including loans to business owners and employees in the cannabis industry, physician’s loans and nurse’s loans.

Salal claims to have lower rates and fees than the industry average, and we found its rates to be competitive compared to other lenders in Washington.

• Pros and cons

  Pros

  • Well-designed website. Salal Credit Union has an intuitive website, making it straightforward to apply for a loan or contact a loan officer.
  • Most services in-house. The Salal Credit Union keeps most of its servicing in-house, which can help make for a smoother process.
  • HomeAdvantage. This is an exclusive free member service offered by Salal that provides homebuyer tools and cash rewards.

  Cons

  • Rates not listed. Salal Credit Union doesn't list interest rates online, so you'll need to fill out an application to see your rates.
  • Fees not listed. The credit union doesn't list its mortgage fees and closing costs online.

• More details

  Loan products offered	Conventional, Jumbo, Home Equity/HELOC, Refinance
  Minimum credit score	None specified, but most lenders require a score of 620
  Minimum down payment (Conventional)	5%
  State availability	Only available in: CA, OR, UT, WA
  NMLS #	416045

Pros

• Well-designed website. Salal Credit Union has an intuitive website, making it straightforward to apply for a loan or contact a loan officer.
• Most services in-house. The Salal Credit Union keeps most of its servicing in-house, which can help make for a smoother process.
• HomeAdvantage. This is an exclusive free member service offered by Salal that provides homebuyer tools and cash rewards.

Cons

• Rates not listed. Salal Credit Union doesn't list interest rates online, so you'll need to fill out an application to see your rates.
• Fees not listed. The credit union doesn't list its mortgage fees and closing costs online.

• More details

  Loan products offered	Conventional, Jumbo, Home Equity/HELOC, Refinance
  Minimum credit score	None specified, but most lenders require a score of 620
  Minimum down payment (Conventional)	5%
  State availability	Only available in: CA, OR, UT, WA
  NMLS #	416045

Minimum credit score	None specified, but most lenders require a score of 620

Read Review

Which lender is best for me?

With so many lenders to choose from in Washington, you may be wondering if you’ve found the right one. Here are some tips to help you decide.

• Compare at least four or five lenders. Every lender is different and offers different products. Be sure to compare a minimum of four or five lenders before settling on one.
• Read online reviews. Online reviews are a great way to determine if a lender has the right level of service and support for your needs.
• Interview your lender. Some key questions to ask include:
• What will my interest rate and APR be?
• How fast can I close the loan?
• What are loan discount points?
• What fees do you charge?
• Do you offer a rate lock?
• Do you charge prepayment penalties?
• Weigh all factors. While interest rates are important, be sure to consider fees, loan payment flexibility and customer service too.

Compare mortgage lenders

Compare top brands by home loan type, state availability and credit score. Select See rates to provide the lender with basic property and financial details for personalized rates.

Sort by:

Name	Product	Loan products offered	State availability	Min. credit score	‎
Rocket Mortgage (NMLS #3030)		Conventional, Jumbo, FHA, VA, Refinance	Available in all states	620	See rates More Info	Streamline your mortgage from quote to final payment — all from your computer or phone.		loading Fetching your data...
Morty (NMLS #1429243)		Conventional, Jumbo	Not available in: AZ, HI, MA, MO, NV, UT	620	See rates More Info	Preapproval in minutes and closing in as little as 3 weeks with no origination fees.		loading Fetching your data...
LendingTree (NMLS #1136)		HELOC, Home Equity loans	Available in all states	620	See rates More Info	Connect with vetted lenders quickly through this free online marketplace.		loading Fetching your data...
Veterans United (NMLS #1907)		Conventional, FHA, VA, USDA, Jumbo, Refinance	Available in all states	620	See rates More Info	Veterans United stands out from other lenders for its focus on serving the military community.		loading Fetching your data...
Freedom Mortgage (NMLS #2767)		Conventional, Jumbo, FHA, VA, USDA, Refinance	Available in all states	620	See rates More Info	A lender that excels in FHA and VA loans, offering low down payment options to borrowers.		loading Fetching your data...

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Average rates and fees in Washington

As of January 11, 2020, the US benchmark 30-year fixed mortgage rate is 2.85% and the 15-year fixed rate is 2.49%. Washington lenders are offering an average of 2.75%, with rates ranging from 2.00% to 4.125%, according to data from the Consumer Financial Protection Bureau (CFPB).

Additionally, the average closing cost in Washington is around $12,406 after taxes, or approximately 2.48% to 3.1% of a home’s final sale price, according to ClosingCorp. Research mortgage rates in Washington or view Washington closing costs for more details on what you might have to pay.

What about brokers?

Besides LendingTree, our list of the top nine Washington lenders are companies that underwrite mortgages directly. But if you don’t want to research lenders yourself or you want a loan through a mortgage wholesaler, a mortgage broker may be able to help you.

You’ll typically pay about .5% to 2% of your loan’s value for the service, so make sure you don’t get overcharged with unnecessary fees. Take the time to research brokers, ask what their fees are and read online reviews.

Bottom line

If you’re looking to find the right mortgage in Washington, we’re here to help. While there’s a wide range of lenders and mortgages to choose from, it’s totally possible to find one that fits your lifestyle, credit score and budget. While these nine Washington lenders will be suited for many borrowers, you can compare even more lenders in Washington to see additional options.