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%Start 9 Best VHDA Mortgage Lenders of 2021 - NerdWallet Advertiser disclosure
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Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research.
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Our partners cannot pay us to guarantee favorable reviews of their products or services. Here is a list of our partners.BEST OF
9 Best VHDA Mortgage Lenders of 2021
The Virginia Housing Development Authority provides mortgage and assistance programs to would-be home buyers.
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See our top picks for VHDA lenders.NerdWallet Jan 21, 2021
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page.
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However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
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Loan and assistance programs offered through the Virginia Housing Development Authority, or VHDA, are designed to make homeownership more accessible to borrowers across the state. The VHDA relies on a network of participating lenders and loan officers to provide these financial assistance programs, but with dozens of options, it can be difficult to know where to start.
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NerdWallet gathered some of the most active VHDA lenders and matched them to a variety of borrower needs. Start your search by comparing the mortgage providers below. » MORE: See VHDA loan programs and income limits
Loan and assistance programs offered through the Virginia Housing Development Authority, or VHDA, are designed to make homeownership more accessible to borrowers across the state.
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The VHDA relies on a network of participating lenders and loan officers to provide these financial assistance programs, but with dozens of options, it can be difficult to know where to start. NerdWallet gathered some of the most active VHDA lenders and matched them to a variety of borrower needs.
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Start your search by comparing the mortgage providers below. » MORE: See VHDA loan programs and income limits
Best VHDA Mortgage Lenders
LenderNerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.Min.
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credit score
Minimum credit score on top loans; other loan types or factors may selectively influence minimum credit score standardsMin. down paymentLearn more
New American Funding NMLS#6606Learn more
at New American Funding
4.5/5
Best for first-time home buyers620
FHA:500JUMBO:N/AUSDA:640VA:500CONVENTIONAL:6203%New American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.Learn more
at New American Funding
Guaranteed Rate NMLS#2611Learn more
at Guaranteed Rate
5.0/5
Best for an online experience620
VA:580USDA:620JUMBO:N/AFHA:600CONVENTIONAL:6203%Guaranteed Rate offers conventional loans with as little as 3% down.Learn more
at Guaranteed Rate
Fairway Independent Mortgage NMLS#2289Learn more
at Fairway Independent Mortgage
3.5/5
Best for veterans & a nonbank experience620
CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:6403%Fairway Independent Mortgage offers conventional mortgages with flexible terms and mortgage insurance options on down payments less than 20%.Learn more
at Fairway Independent Mortgage
Caliber NMLS#15622Read review
3.5/5
Best for an online experience620
VA:580USDA:N/AFHA:580CONVENTIONAL:620JUMBO:6803%Caliber offers conventional loans with as little as 3% down.Read review
Stearns Lending NMLS#1854Read review
4.0/5
Best for government-backed loans620
VA:580USDA:620JUMBO:N/AFHA:580CONVENTIONAL:6203%Stearns Lending offers conventional loans with as little as 3% down.Read review
PrimeLending NMLS#13649Read review
3.5/5
Best for USDA loans620
CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:5803%PrimeLending offers conventional loans with down payments as low as 3%.Read review
BB&T (Truist): NMLS#399803Read review
4.5/5
Best for in-person service620
VA:N/AUSDA:640JUMBO:N/ACONVENTIONAL:6203%BB&T Mortgage offers conventional loans for as little as 3% down.Read review
SunTrust Truist NMLS#2915Read review
4.5/5
Best for in-person service620
VA:620USDA:640JUMBO:N/AFHA:620CONVENTIONAL:6203%SunTrust Mortgage offers conventional loans for as little as 3% down.Read review
loanDepot NMLS#174457Read review
4.0/5
Best for a nonbank experience620
JUMBO:N/AVA:620FHA:580CONVENTIONAL:6205%LoanDepot offers conventional loans with as little as 5% down.Read reviewLearn more
at New American Funding
New American Funding NMLS#6606
4.5NerdWallet rating NerdWallet's ratings are determined by our editorial team.
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The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620
FHA:500JUMBO:N/AUSDA:640VA:500CONVENTIONAL:620
Min.
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down payment3%
New American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois. View details Learn moreat New American Funding
View details Why we like it
Good for: First-time home buyers and other borrowers looking for a broad array of loan choices. Pros
Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
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6 likes
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Its home equity line of credit can be used for an owner-occupied or second home. Offers a program to enable buyers to make cash offers. Cons
Mortgage origination fees tend to be on the high end, according to the latest federal data.Read Full ReviewLearn more
at Guaranteed Rate
Guaranteed Rate NMLS#2611
5.0NerdWallet rating NerdWallet's ratings are determined by our editorial team.
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26 likes
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The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620
VA:580USDA:620JUMBO:N/AFHA:600CONVENTIONAL:620
Min.
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31 likes
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down payment3%
Guaranteed Rate offers conventional loans with as little as 3% down. View details Learn moreat Guaranteed Rate
View details Why we like it
Good for: borrowers seeking a solid variety of loan types, including jumbo and interest-only options, and a totally online experience.
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Pros
Displays detailed sample rates for many of its loan products. Offers a wide variety of loans, including jumbo and interest-only products. Offers low rates compared with other lenders, according to the latest federal data.
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43 likes
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Cons
Doesn't offer home equity loans.Read Full ReviewLearn more
at Fairway Independent Mortgage
Fairway Independent Mortgage NMLS#2289
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min.
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35 likes
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credit score620
CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:640
Min. down payment3%
Fairway Independent Mortgage offers conventional mortgages with flexible terms and mortgage insurance options on down payments less than 20%. View details Learn moreat Fairway Independent Mortgage
View details Why we like it
Good for: borrowers who want access to a wide variety of mortgages, including renovation loans and ITIN loans.
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Pros
Offers a robust suite of loan products, including ITIN loans for borrowers without Social Security numbers, renovation loans, government-backed mortgages and loans for self-employed borrowers. Receives high marks for customer satisfaction, according to J.D.
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Power and Zillow. Cons
Mortgage rates for different types of loans aren't posted online. Origination fees are on the high side compared with other lenders, according to the latest federal data.Read Full ReviewRead review
Caliber NMLS#15622
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team.
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47 likes
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The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620
VA:580USDA:N/AFHA:580CONVENTIONAL:620JUMBO:680
Min. down payment3%
Caliber offers conventional loans with as little as 3% down.
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12 likes
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View details Read reviewView details Why we like it
Good for: first-time home buyers, veterans and those who may have credit challenges to overcome. Pros
Offers extensive educational resources for military borrowers. Participates in some down payment assistance and first-time home buyer programs.
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16 likes
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Cons
No mortgage rates displayed online. Doesn’t offer home equity loans or lines of credit.Read Full ReviewRead review
Stearns Lending NMLS#1854
4.0NerdWallet rating NerdWallet's ratings are determined by our editorial team.
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23 likes
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The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620
VA:580USDA:620JUMBO:N/AFHA:580CONVENTIONAL:620
Min.
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39 likes
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down payment3%
Stearns Lending offers conventional loans with as little as 3% down. View details Read reviewView details Why we like it
Good for: borrowers who want a variety of home loan options, including a government-backed renovation loan. Pros
Offers conventional and government-backed loans with low-down-payment options, including FHA 203k renovation loans.
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Has a mobile app to help streamline the application process. Has a loan program for medical doctors and dentists with down payments as low as 5%.
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8 likes
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Cons
Doesn’t display information online about rates and fees. Doesn't offer home equity loans or HELOCs.Read Full ReviewRead review
PrimeLending NMLS#13649
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min.
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44 likes
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credit score620
CONVENTIONAL:620FHA:580JUMBO:N/AUSDA:620VA:580
Min. down payment3%
PrimeLending offers conventional loans with down payments as low as 3%. View details Read reviewView details Why we like it
Good for: borrowers looking for closing cost assistance, as well as those seeking to renovate or to build a new home.
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Pros
Full online application includes document uploads and automated loan updates. Offers a "float-down" interest rate lock. Offers government-backed mortgage and refinance options, including FHA, USDA and VA loans.
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31 likes
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Cons
No online mortgage rates — you have to contact the lender for info. Doesn't offer home equity products.Read Full ReviewRead review
BB& T Truist NMLS#399803
4.5NerdWallet rating NerdWallet's ratings are determined by our editorial team.
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40 likes
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The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620
VA:N/AUSDA:640JUMBO:N/ACONVENTIONAL:620
Min.
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39 likes
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down payment3%
BB&T Mortgage offers conventional loans for as little as 3% down. View details Read reviewView details Why we like it
Good for: borrowers in the Southeast who want the option of face-to-face service. BB&T is now part of Truist Financial Corp., which offers a full menu of home loans.
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45 likes
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Pros
Offers a variety of home loans, including construction-to-permanent loans, physicians loans and jumbo loans. Has a robust online mortgage application. Cons
Branches limited to mostly the Southeast region.
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7 likes
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Custom rates are only available if you speak with a representative.Read Full ReviewRead review
SunTrust Truist NMLS#2915
4.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 VA:620USDA:640JUMBO:N/AFHA:620CONVENTIONAL:620 Min.
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22 likes
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down payment3%
SunTrust Mortgage offers conventional loans for as little as 3% down. View details Read reviewView details Why we like it
Good for: first-time home buyers, doctors and other borrowers interested in low-down-payment mortgage options.
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35 likes
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Pros
Offers a wide variety of loan options, including special programs for doctors. Offers a complete suite of online mortgage application tools and loan tracking. Sample rates and fees are easy to find on the website.
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23 likes
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Cons
Customized rates aren't available online without starting an application. Branches are limited mostly to the Southeast.Read Full ReviewRead review
loanDepot NMLS#174457
4.0NerdWallet rating NerdWallet's ratings are determined by our editorial team.
thumb_up
42 likes
A
The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620
JUMBO:N/AVA:620FHA:580CONVENTIONAL:620
Min.
thumb_up
7 likes
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down payment5%
LoanDepot offers conventional loans with as little as 5% down. View details Read reviewView details Why we like it
Good for: borrowers who want an easy online application and a variety of loan types to explore. Pros
Has branches across the country for customers who prefer face-to-face service.
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47 likes
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Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
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Mortgage interest rates tend to be on the lower end, according to the latest federal data. Cons
Mortgage rates aren't available online; you'll need to contact a loan officer. Doesn't offer home equity loans or lines of credit.Read Full Review
More from NerdWallet
See more Virginia mortgage lenders
Calculate your mortgage payment
Compare Virginia mortgage rates
Last updated on January 21, 2021
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage.
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The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team. To recap our selections...
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NerdWallet' s Best VHDA Mortgage Lenders of 2021
New American Funding: Best for first-time home buyersGuaranteed Rate: Best for an online experienceFairway Independent Mortgage: Best for veterans & a nonbank experienceCaliber: Best for an online experienceStearns Lending: Best for government-backed loansPrimeLending: Best for USDA loansBB&T (Truist): Best for in-person serviceSunTrust (Truist): Best for in-person serviceloanDepot: Best for a nonbank experienceAbout the author
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