Mortgage Types Explained
The right mortgage depends on your credit score, down payment, military service, and where you're buying. Here's a quick breakdown:
Top Mortgage Lenders — 2026
Ranked by rates, closing costs, online experience, and loan options. Independent editorial assessment.
America's #1 mortgage lender by volume. Rocket's fully digital application takes under 10 minutes, offers real-time rate locks, and has received J.D. Power's top customer satisfaction rating 11 consecutive years. Supports conventional, FHA, VA, USDA, and jumbo loans. Their "RateShield" locks your rate for 90 days while house hunting.
Pros
- Fastest online application
- RateShield 90-day lock
- All loan types available
- Award-winning service
Cons
- Rates not always lowest
- No in-person branches
- Origination fees apply
Better charges no commission, no lender fees, and offers 24/7 rate locks. Their One Day Mortgage™ can give pre-approval, rate lock, and commitment letter in 24 hours. Backed by SoftBank, they're one of the most tech-forward options in the market.
Pros
- No lender origination fees
- One Day Mortgage option
- Competitive rates
- Fully online process
Cons
- No VA or USDA loans
- Limited human support
- No in-person option
The nation's largest VA lender by volume. Veterans United specializes exclusively in VA loans and has helped over 500,000 veterans and service members buy homes. Free credit counseling for borrowers who don't yet meet requirements. Exceptional specialized expertise.
Pros
- VA loan specialists
- 0% down available
- Free credit counseling
- Highest veteran satisfaction
Cons
- VA loans only
- Only for eligible veterans
- Funding fee required
loanDepot offers all major mortgage types with a strong focus on FHA and first-time buyers. 200+ retail locations plus a digital option. Their "Lifetime Guarantee" waives lender fees on future refinances. Good for borrowers who want both in-person and online options.
Pros
- 200+ physical branches
- Low 580 FHA credit req
- Refi fee waiver program
- All loan types
Cons
- Higher rates for FHA
- Fees above industry avg
- Inconsistent reviews
Mortgage Comparison Table
| Lender | Best For | APR Range | Min. Credit | Min. Down | Loan Types | Rating | |
|---|---|---|---|---|---|---|---|
| Rocket Mortgage | Overall | 6.12%–8.99% | 620 | 3% | All types | ★★★★★ | Get Rate |
| Better Mortgage | Low Fees | 6.05%–8.75% | 620 | 3% | Conv, FHA, Jumbo | ★★★★½ | Get Rate |
| Veterans United | VA Loans | 5.95%–7.50% | 620 | 0% | VA only | ★★★★★ | Get Rate |
| loanDepot | FHA | 6.25%–9.50% | 580 | 3.5% | All types | ★★★★ | Get Rate |
| Chase | Existing Customers | 6.50%–9.00% | 640 | 3% | Conv, Jumbo | ★★★★ | Get Rate |
| Navy Federal CU | Military | 5.99%–7.75% | N/A | 0% | VA, Conv | ★★★★★ | Get Rate |
| PennyMac | USDA/Rural | 6.20%–9.25% | 580 | 0% | All types | ★★★½ | Get Rate |