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Navy Federal vs. Wells Fargo mortgages

One lender has a 0% down no PMI loan, but approval times may be slow.

How do Navy Federal Credit Union and Wells Fargo compare?

Navy Federal Credit Union logo
Wells Fargo logo
  • Choose this lender for 0% down and no PMI loan options, beyond VA or USDA loans.
  • Be wary of a slow approval process.
  • Choose this lender for down payments as low as 3%
  • Watch out for hidden fees and scandals
  • A good option for borrowers who want to automate their payments

Loans offered

  • Conventional
  • Refinance
  • Jumbo
  • HELOC
  • FHA
  • VA
  • USDA
  • Conventional
  • Refinance
  • Jumbo
  • HELOC
  • FHA
  • VA
  • USDA

Minimum credit score

Conventional: 620

Conventional: 600

States available

Available in all states

Available in all states

Pros

  • For those ineligible for VA or USDA loans, additional 0% down, no PMI options available
  • Special benefits for qualifying military service members
  • Fewer fees on select mortgages than other companies
  • Low down payment
  • Use gift funds
  • Easy application process

Cons

  • Requires NFCU membership
  • Online complaints relate a long approval process and poor support
  • Fees
  • Slow customer service

Customer reviews

Member reviews for Navy Federal Credit Union on Trustpilot are overwhelmingly positive. Reviewers there have rated the credit union 4.7 out of 5 stars based on 4,748 reviews as of July 2021. Most customers commend the credit union for its empathetic, respectful and first-class customer service. Others say they received loans through Navy Federal that they wouldn’t have been approved for elsewhere. Over on the Better Business Bureau (BBB), it’s a bit of a different story. Navy Federal Credit Union isn’t accredited, and it’s rated 1.21 out of 5 stars based on 133 reviews. In the last three years, the credit union closed 903 complaints. Negative reviews range from complaints about being denied for personal loans to closing credit cards without notice to long approval processes. All things considered, Navy Federal Credit Union comes out near the top when compared to other lenders. Its customer reviews are overwhelmingly positive, which is more than you can say about some other lenders on the market.
Reviews for this lender are mixed, but trend toward negative. First-time homebuyers recommend Wells Fargo for its thorough guidance through the home loan process. Other borrowers praise its mortgage specialists for their professionalism and helpful advice over the phone. Of the complaints, the most frequent was of customer service's slow response time and the excessive documents needed to assess loan applications. As of September 2019, Trustpilot gives Wells Fargo a rating of 1.5 out of 5 stars based on 157 ratings. The Better Business Bureau doesn’t give Wells Fargo a rating, but it gets a customer score on the site of 1 out of 5 stars based on 442 reviews, and the BBB has recorded over 1,000 complaints closed in the last year alone.

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.

Name Product Loan products offered State availability Min. credit score
Rocket Mortgage
(NMLS #3030)
Rocket Mortgage
Conventional, Jumbo, FHA, VA, Refinance
Available in all states
620
Streamline your mortgage from quote to final payment — all from your computer or phone.
AmeriSave
(NMLS #1168)
AmeriSave
Conventional, Jumbo, FHA, VA, USDA, Refinance
Not available in: NY
620
Great customer reviews and customized rate quotes in three minutes with no SSN needed.
Veterans United
(NMLS #1907)
Veterans United
Conventional, FHA, VA, USDA, Jumbo, Refinance
Available in all states
620
Veterans United stands out from other lenders for its focus on serving the military community.
Better
(NMLS #330511)
Better
Conventional, Jumbo, FHA, Refinance
Not available in: HI, MA, MN, NV, NH, VT, VA
620
Online preapproval in minutes and no origination fees with this direct lender.
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