This service is free and will not affect your credit score. What is an interest-only mortgage? Best for mortgage lending overall Our take on Truist If you want a wide range of loan options from a traditional bank, Truist is worth a look. Its streamlined application process and access to human support can make borrowing easier. Offers a wide range of mortgage options focused on affordability. Convenient online application. Generous grants for qualifying home buyers in select locations. Getting custom rates and applying for mortgage preapproval both require human contact. Customer care leans heavily on phone and in-person service. HELOCs are not available in most states, though home loans are available everywhere in the U.S. except Alaska, Arizona and Hawaii. Best for low combined rates and fees Our take on PNC Bank PNC Bank offers a wide selection of loans and refinance options, with a streamlined digital experience and comprehensive rates tool. Solid variety of mortgage types, both standard and harder-to-find. Online rate quotes are informative and easy to customize. Offers down payment grants and no-PMI loans for low-income borrowers. Mobile app has limited mortgage features. In-person service not available in all states. Construction loans are only available in AL, AZ, CA, CO, FL, GA, NJ, NM, NC, OH, PA, SC, TN, TX, VA and WA. Best for first-time home buyers Our take on Flagstar Flagstar Bank stands out for having a wide variety of home loan options, including harder-to-find products. But take note that Flagstar has reduced its mortgage business as part of corporate restructuring. Executives have indicated that the lender will rebuild its home lending operations by focusing on the needs of banking clients. Offers down payment assistance programs to borrowers in qualifying areas. Reported average time to close is 25 days, faster than the national average. Conventional loan terms extend to 40 years, which is unusually flexible. You can't apply for preapproval or prequalification online. Customer service options are limited. Best for online convenience Our take on Network Capital Network Capital stands out for its focus on borrowers with lower credit score, and offering competitive refinance products. Cash-out refinancing is an uncommon specialty, so Network Capital could appeal to that borrower. Offers HELOCs for homeowners who want to access their equity without refinancing. Home buyers should know the lender doesn’t specialize in purchase loans. Borrowers must be contacted for a quote before completing an online application. Best for Wells Fargo customers Our take on Wells Fargo Wells Fargo has significantly shrunk its mortgage business in recent years, but still offers a range of government-backed and speciality loans, as well as assistance for first-time home buyers. Borrowers can see customized mortgage rate estimates online. Offers relatively low interest rates and fees, according to the latest federal data. Discounts may be available for existing Wells Fargo customers. Does not offer home equity loans or HELOCs. Borrowers need at least $250,000 in assets with the bank to qualify for a rate discount. Prospective borrowers may be put off by the lender’s past legal issues. Best for customer experience Our take on U.S. Bank U.S. Bank offers a broad selection of mortgages, including some niche options. Rates and fees are middle of the road, per federal data. The bank offers helpful tech for rate shopping and live chat, though its online application could be smoother. Wide variety of mortgages, including some harder-to-find types.

Experience in construction and renovation loans. Offers up to $17,500 in assistance (income/location requirements apply). Rates shown online don’t reflect your credit score. Contact form interrupts online application before you can complete it. Few mortgage options for borrowers with low/bad credit. Best for credit union lending Our take on FourLeaf Federal Credit Union FourLeaf Credit Union, formerly known as Bethpage, is easy to join: Just deposit $5 in a savings account. Its online rates tool lets you estimate monthly payments, but customization is limited. Nice selection of specialty mortgages. Well rated mobile app. No renovation or construction loans. Online rate quote is light on detail and doesn’t let you customize. Best for lower-credit borrowers Our take on Carrington Carrington Mortgage offers specialty loans for people who might have trouble getting a mortgage elsewhere, like self-employed borrowers or those with heavy debt. However, average rates and fees are higher than competitors. Considers borrowers with bad credit, foreclosure or bankruptcy. Options for self-employed borrowers and alternative income documentation. Average APR, which measures a combination of rates and fees, is higher than competitors, according to the latest federal data. Rates are posted online, but website navigation is clunky. Offers home equity loans, but no HELOCs. Best for customer satisfaction Our take on Chase Chase mortgage has an above-average reputation for consumer satisfaction, and offers a number of programs that can make home buying more affordable and accessible. Offers a wide range of loan types, including options with low down payment requirements. Home buyer grants up to $5,000 may apply for qualified borrowers. Receives above-average ratings for customer satisfaction, according to J.D. Power and Zillow. Borrowers must create an account or speak with a home loan expert before completing an online application. Parts of the prequal and preapproval process cannot be done solely online. Best for Variety of jumbo loan types Our take on Real Genius Real Genius is a smart pick for a do-it-yourself online quote. We’re impressed with its "no fine print” approach and options to sort and customize APR and fees. However, Real Genius does not have a mobile app and doesn’t currently prioritize home equity lending. Easy and transparent online rate quote tool. May accept borrowers with low credit scores. Closes loans in an average of 30 days (faster than industry average). Federal data isn’t available for us to objectively compare this lender with others. Home equity loans and HELOCs aren’t a priority. Not currently lending in U.S. territories. How we chose the best interest-only mortgage lenders Lenders reviewed Categories assessed Data points analyzed Star rating categories Is it hard to qualify for an interest-only mortgage? What the nerds think Is there a downside to an interest-only loan if you're planning to sell or refinance? Why get an interest-only mortgage? Mortgage calculator Compare mortgage rates Best mortgage lenders for jumbo loans