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Best Online Mortgage Lenders

Homeownership is a major life milestone for many Americans. And if you’re buying a real estate, you’ll probably need a mortgage.

Traditionally, you had to go to a physical bank, submit an application, and meet with a representative to find out if you could get approved for a home loan.

But, these days, it’s possible to complete the entire mortgage application process online—both with traditional brick & mortar banks as well as with online-only lenders.

We analyzed the best online mortgage lenders on the market to help make your search for the right mortgage loan easier. Keep reading to learn about our top picks.

On this page:

LendEDU’s 5 Best Online Mortgage Lenders

  1. Better
  2. SoFi
  3. New American Funding
  4. Bank of America
  5. loanDepot

1) Better

Simple, Online Mortgage

  • No extra fees or commission, ever
  • Instant loan estimates
  • Experience you can trust – Over $3 billion in total funded loans

Better offers conventional and jumbo loans with both fixed and variable interest rates. You can also obtain FHA loans or refinance an existing mortgage with this lender.

Better aims to make applying for a mortgage fast and easy. You can both submit your application and track its progress online throughout the mortgage approval process.

Here’s what you need to know about getting a loan from Better.


  • LendEDU Rating: 5.00 / 5.00
  • BBB Rating: A+
  • TrustPilot Rating: N/A

Better’s Conventional Mortgage

  • States available: 36
  • Fixed terms: 15, 20, 30
  • Minimum down payment: 5%
  • Minimum credit score: Up to 50%

Full Review: Better Mortgage Review

2) SoFi

10% down, 100% home

  • No hidden fees or prepayment penalties
  • Put as little as 10% down on loans up to $3 million
  • Exclusive member discounts

SoFi is a trusted online lender well-known for offering student loans, personal loans, and mortgages. Membership benefits like financial education resources and discounts if you use multiple products make SoFi a great option.

SoFi provides conventional and jumbo mortgages with fixed and variable rates, as well as FHA loans and mortgage refinancing.

Here’s what you need to know about getting a SoFi mortgage.


  • LendEDU Rating: 4.77 / 5.00
  • BBB Rating: A+
  • TrustPilot Rating: 8.8/10

SoFi’s Conventional Mortgage

  • States available: 42
  • Fixed terms: 15, 30
  • Minimum down payment: 10%
  • Maximum loan amount: $3 million

3) New American Funding

Your Mortgage, Your Terms.

  • Get pre-approved in as little as 48 hours
  • Complete the entire application process online
  • Choose from a wide variety of mortgage options

New American Funding provides a wide variety of mortgage options including fixed- and adjustable-rate jumbo and conventional loans, reverse mortgages, VA loans, FHA loans, and USDA loans.

You can get timely pre-approval in just 48 hours and can manage the entire application process online.

Here’s what you need to know about getting a mortgage from New American.


  • LendEDU Rating: 4.74 / 5.00
  • BBB Rating: A+
  • TrustPilot Rating: N/A

New American’s Fixed Rate Conventional Mortgage

  • States available: 48
  • Fixed terms: 15, 20, 30
  • Minimum down payment: Not provided
  • Maximum debt-to-income ratio: Not provided

Full Review: New American Funding Review

4) Bank of America

Get started with the Digital Mortgage Experience

  • Prequalify or apply for your mortgage in minutes
  • Choose from a wide variety of mortgage options from fixed-rate, adjustable-rate, jumbo loans, FHA, and VA loans
  • Preferred Rewards client discounts

Bank of America is one of the largest mortgage lenders in the country and, unlike some other lenders on this list, has many local branches spread across the United States. This means you can get assistance from an in-person loan officer or handle the application process online.

You can get a fixed- or adjustable-rate jumbo or conventional loan, an FHA Loan, or a VA loan from Bank of America. BOA also offers a unique Affordable Solutions Program for low-income borrowers that lets you qualify with a lower down payment.


  • LendEDU Rating: 4.62 / 5.00
  • BBB Rating: A+
  • TrustPilot Rating: 3.9/10

Bank of America’s Fixed Rate Conventional Mortgage

  • States available: 50
  • Fixed terms: 15, 20, 30
  • Minimum down payment: 5%
  • Maximum loan amount: $2.5 million

5) loanDepot

Home Mortgage, Refinance, and Home Equity Loans

  • Fixed terms
  • Affordable monthly payments
  • Cash out up to 90% loan-to-value

loanDepot offers variable and fixed-rate mortgages in both conventional and jumbo loan sizes. You can also obtain FHA or VA loans from this non-bank consumer lender, which is the second-largest non-bank lender in the United States.


  • LendEDU Rating: 4.60 / 5.00
  • BBB Rating: A-
  • TrustPilot Rating: 8.5/10

Loan Depot’s Fixed Rate Conventional Mortgage

  • States available: 50
  • Fixed terms: 10, 15, 20, 30, 40
  • Minimum down payment: 5%
  • Maximum debt-to-income ratio: Not provided

Full Review: loanDepot Mortgage Review

How We Chose the Best Online Mortgage Lenders

LendEDU rated and ranked the best online mortgage lenders by making use of a proprietary rating system that took a weighted average of 12 different data points.

We removed any lenders that required membership to qualify, then selected the highest-rated lenders that offer online applications.

The factors that went into determining our ratings included:

  • The Better Business Bureau (BBB) Rating, which accounted for 10% of each lender’s score.
  • The TrustPilot rating, which accounted for 5%.
  • The states available, which accounted for 5%.
  • Lender fees, which accounted for 10%.
  • Application fees, which accounted for 10%.
  • The number of branches, which accounted for 5%.
  • Licenses and registrations, which accounted for 5%.
  • The number of regulatory actions, which accounted for 5%.
  • The number of mortgage loan originators, which accounted for 5%.
  • Customer support, which accounted for 20%.
  • The Zillow rating, which accounted for 10%.
  • Other rewards and additional benefits, which accounted for 10%.

3 Tips for Applying for Mortgages Online

You have many options when shopping for mortgages online. But you want to make sure you get the best rates available and choose a reliable lender. These tips will help you to ensure you’re getting the best possible deal.

Make Sure the Lender Offers the Programs You Need

There are many different kinds of mortgage loans available. Most home buyers will likely get conventional loans. However, some buyers purchasing more expensive homes will need jumbo loans instead.

First-time homebuyers—especially those with an imperfect credit score, low down payments, or limited income—may also qualify more easily for loans backed by the government, which include:

Lenders partner with government programs to issue these loans, so ask your lender what programs they offer.

>> Read More: First-Time Home Buyer Programs

Test the Lender’s Customer Support

You’re going to be dealing with your mortgage lender for a long time. And when it comes to online lending, good customer support is of paramount importance.

You’ll want to make sure your lender offers a variety of contact methods including phone, email, chat, and maybe even in-person support so you can trust they’ll be responsive and helpful down the road if any issues arise.

Get Pre-Approved

Mortgage pre-approval can help you understand whether you have a shot at qualifying for a loan, the loan amount you can expect to borrow, and what loan terms you’re likely to receive.

Pre-approval requires you to provide some basic info to the lender, and it’s much easier to do online because you don’t need to set up appointments or go visit multiple lenders to compare mortgage rates.

Here’s some of the info you’ll need to provide to get pre-approved:

  • Tax records
  • Pay stubs
  • Your Social Security number (so a lender can check your credit report)
  • Details about your other debts

It can take time to get pre-approved and to find the right loan, so start your search for the best mortgage lender as soon as you get serious about buying a home.

Note: some mortgage companies may only offer pre-qualification. This can also help you compare rates, but it’s less reliable than pre-approval.

Not Satisfied?

Here are some more resources on mortgages for you to check out: