Can You Get a Mortgage Entirely Online?

It is possible to get a mortgage entirely online , although there may be a couple of phone calls in the mix depending on the lender and how complex your financial situation is. In some states, the mortgage closing must be done in person, or at least the signatures must be physically signed and sent over.

Do Online Mortgage Lenders Have Lower Rates?

Mortgage rates vary by lender and by each borrower’s financial qualifications. Whether or not an online mortgage lender has better rates than a traditional mortgage lender depends on the situation.

Can You Get Preapproved for a Mortgage Online?

Yes, you can get preapproved for a mortgage online with the best online mortgage lenders . It will typically require you to upload documentation such as your W-2 forms, pay stubs, and bank statements, and a credit check will be performed.

Are Online Lenders Trustworthy?

There are many online lenders that are trustworthy and adhere to the same stringent requirements as traditional banks. Of course, there are also shady companies that operate online as well, especially for predatory lending products aimed at people with poor credit. It’s important to do your research before working with any mortgage lender to make sure it is reputable, has strong customer ratings, and follows best practices.

Best Online Mortgage Lenders

With these lenders, the online experience comes first

Dawn Papandrea

Updated May 31, 2023

Reviewed by

Cierra Murry

Fact checked by

Lars Peterson

We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Learn more.

If you’re in the market for a home and prefer a digital home loan application experience, you should start investigating the best online mortgage lenders. A truly online mortgage process is possible if the lender has well-designed online tools or apps available to make uploading documentation and e-signing paperwork simple. But that should be balanced with strong customer service, the right loan options for your needs, and favorable mortgage rates and terms.

We researched the best-rated online mortgage lenders to come up with five providers worth exploring. Whether you’re a first-time buyer, have a unique financial situation, are looking for a quick closing, or just want to prequalify without getting on the phone, start with this list of the best online mortgage lenders.

Best Online Mortgage Lenders of 2023

Best With Online Resources: Rocket Mortgage
Best for Borrowers of All Types: Movement Mortgage
Best for Speedy Closing: Cross Country Mortgage
Best for Variety of Loans: Draper & Kramer
Best for All-in-One Online Homebuying: Better

Best With Online Resources : Rocket Mortgage

Get a Quote

Key Specs

Online Application: Yes
Max. Debt-to-Income: 50%, but can vary by program
Days to Close: 25 days

Pros & Cons

Pros

Well-rated, user-friendly digital app
Flexible loan terms
Tons of homebuyer education in Learning Center

Cons

Hard credit pull needed for customized rates
Charges origination fees

Why We Chose It

Rocket Mortgage, currently the biggest mortgage lender in the U.S., is a popular choice for those seeking an online experience, thanks to its intuitive digital tools. You may have to get on the phone during the initial application process, but almost everything can be done online with digital uploads, e-signatures, and more.

As for the loans themselves, Rocket offers several mortgage types and even lets you choose the length of the loan term in some cases, ranging from eight to 29 years. Fees are not disclosed, but Rocket Mortgage does charge them.

Qualifications

Minimum credit score/range: 580+ for government-backed; 620+ for conventional
Minimum income: Not disclosed
Maximum DTI ratio: 50%, but can vary by program
Cash reserve requirements: Not disclosed
Operates in all 50 states plus Washington, D.C.

Best for Borrowers of All Types : Movement Mortgage

Get a Quote

Key Specs

Online Application: Yes
Max. Debt-to-Income: 50%
Days to Close: 30 days

Pros & Cons

Pros

Some profits support the Movement Foundation
Upfront underwriting to speed up the process
Nice selection of loans

Cons

No rates or fees are disclosed on website
No prequalification without hard credit check

Why We Chose It

Movement Mortgage has a wide range of loan products, a fast preapproval process, and a company mission that’s easy to get behind. Although much of the application process takes place online, you have to speak with a loan officer in order to go over your options (and there are several), get your customized rates, and move forward.

Movement has only been around since 2008, when it launched during the housing market collapse. Its goal is to simplify the process for homebuyers, while donating part of its profits to help impact communities here and around the globe.

Qualifications

Minimum credit score/range: 580+ for government-backed; 620+ for conventional
Minimum income: Not disclosed
Maximum DTI ratio: 50%
Cash reserve requirements: Not disclosed
Movement mortgage is licensed to operate in 50 states plus Washington, D.C.

Best for Speedy Closing : Cross Country Mortgage

CrossCountry Mortgage

Get a Quote

Key Specs

Online Application: Yes
Max. Debt-to-Income: 45.9%
Days to Close: 21 days

Pros & Cons

Pros

Many loan programs
Document uploading and online application
Fast-moving underwriting process

Cons

No rate info is published on the website
Even prequalification requires a phone call
Some customer reviews are negative

Why We Chose It

CrossCountry Mortgage is an online lender with a variety of home loan programs to appeal to different types of buyers. The process starts on the phone rather than on the website, however. A loan officer will prequalify you, then if you want to move forward, they’ll help get you to closing quickly. CrossCountry Fast Track Credit Loan Approval gets a jump start on the underwriting, so by the time you find a house, you’ll be several steps ahead.

The website has some mortgage calculators to help you crunch your numbers, and you can manage your account online, but there’s no mobile app. If you live near one of CrossCountry’s 600 branches, you can visit in person if you would like a hybrid experience.

Qualifications

Minimum credit score/range: 620
Minimum income: Not disclosed
Maximum DTI ratio: 45.9%
Cash reserve requirements: Not disclosed
Operates in all 50 states plus Washington, D.C.

Best for Variety of Loans : Draper & Kramer

Get a Quote

Key Specs

Online Application: Yes
Max. Debt-to-Income: 50%
Days to Close: 30 to 45 days

Pros & Cons

Pros

Apply, upload docs, and sign forms via DK Xpress app
Dedicated loan officer from start to finish

Cons

Rate and fee info is not disclosed on website
Online content and calculator tools are minimal

Why We Chose It

Family-run Draper & Kramer has been around since 1893 and boasts the oldest active Federal Housing Administration (FHA) license in the nation. While it has 70 branch locations spread across the country, Draper & Kramer is going all-in on digital mortgages with its DK Xpress app.

From fixed, adjustable, conventional, and jumbo loans to government-backed loans, renovation loans, and even reverse mortgages, Draper & Kramer offers a full suite of home loan products. Customers can start the whole process by downloading the app and connecting with a loan officer who will guide them. While it can do a better job with transparency around rate and fee information, customers who want a fully digital experience with human support may find Draper & Kramer to be a good match.

Qualifications

Minimum credit score/range: Not disclosed
Minimum income: Not disclosed
Maximum DTI ratio: 50%
Cash reserve requirements: Not disclosed
Licensed to operate in all 50 states plus Washington, D.C. and Puerto Rico

Best for All-in-One Online Homebuying : Better

Better Mortgage

Get a Quote

Key Specs

Online Application: Yes
Max. Debt-to-Income: 50%
Days to Close: 32 days

Pros & Cons

Pros

Suite of homebuying services
One Day Mortgage preapproval program
Highly rated for customer service

Cons

Self-employed applicants may have a tougher time
No prequalification without credit check

Why We Chose It

For those who prefer a one-stop shop for all their homebuying needs, Better Mortgage provides you with everything you need right from its website: home loans, home insurance, connections to real estate agents and attorneys, title services, and more. Bundling such services could also earn you a discount on your closing costs.

Better also offers a good balance of digital tools and customer service agents who are available seven days a week. The “One Day Mortgage” peapproval is another cool feature in that it aims to get you a preapproval letter within 24 hours. Plus, we like that there’s no origination fees.

Qualifications

Minimum credit score/range: 580 (FHA)
Minimum income: Not disclosed
Maximum DTI ratio: 55%
Cash reserve requirements: Not disclosed
Available in all 50 states and Washington, D.C.

Final Verdict

If you prefer a better-known brand—and a slew of online resources and homebuyer education content—Rocket Mortgage and its fantastic app is a popular pick. Movement Mortgage, with its altruistic mission, digital- and human-balanced application process, and no-origination-fee loans for all types of borrowers is another good choice for an online mortgage.

Rivaling Rocket’s app is Draper & Kramer’s DK Xpress app for home mortgages—ironic since it’s the oldest lender among the bunch, dating back to 1893. Better is also a big player in the online mortgage space, known for its top-notch customer service. But if it’s speed to closing that you’re interested in, CrossCountry is the winner.

Compare the Best Online Mortgage Lenders

Online Mortgage	Online Application	Maximum Debt-to-Income	Days to Close
Rocket Mortgage	Yes	50% (but varies)	25
Movement Mortgage	Yes	50%	30
CrossCountry Mortgage	Yes	45.9%	21
Draper & Kramer	Yes	50%	30 to 45
Better	Yes	55%	32

Guide to Choosing an Online Mortgage Lender

How Does an Online Mortgage Lender Work?

Online lenders operate much the same way as any home loan provider. The mortgage application takes into account the same criteria as traditional lenders, including credit history, income, debt-to-income ratio, and other financial information.

The key difference is that documentation can typically be uploaded online or via app, and e-signatures may be allowed. There usually still will be a loan officer behind the scenes who you’ll talk to over the phone, and many closings still take place in person (depending on state requirements).

When looking for the best online mortgage lenders, be sure to not only compare interest rates, but factor in any fees as well. The Annual Percentage Rate (APR) combines both expenses, making it a better way to compare loan costs.

Steps to Take with an Online Mortgage Lender

When working with an online mortgage lender, put yourself in the best possible position to get approval for a home loan.

Before you start any application process, have a good sense of your credit score. You can get free credit scores and credit reports online, and will generally need a 620 score or above (except for a couple of special loan programs that allow for lower scores).
You should also crunch your own debt and income numbers using an online home affordability calculator. This will help you estimate how much of a mortgage payment you can afford based on your income and current debt obligations.

If you’re a self-employed mortgage applicant, you will have to supply more documentation than salaried employees. Some documents that may be required include two years of tax returns, profit and loss statements, and proof of cash reserves.

Frequently Asked Questions

Can You Get a Mortgage Entirely Online?

It is possible to get a mortgage entirely online, although there may be a couple of phone calls in the mix depending on the lender and how complex your financial situation is. In some states, the mortgage closing must be done in person, or at least the signatures must be physically signed and sent over.
Do Online Mortgage Lenders Have Lower Rates?

Mortgage rates vary by lender and by each borrower’s financial qualifications. Whether or not an online mortgage lender has better rates than a traditional mortgage lender depends on the situation.
Can You Get Preapproved for a Mortgage Online?

Yes, you can get preapproved for a mortgage online with the best online mortgage lenders. It will typically require you to upload documentation such as your W-2 forms, pay stubs, and bank statements, and a credit check will be performed.
Are Online Lenders Trustworthy?

There are many online lenders that are trustworthy and adhere to the same stringent requirements as traditional banks. Of course, there are also shady companies that operate online as well, especially for predatory lending products aimed at people with poor credit. It’s important to do your research before working with any mortgage lender to make sure it is reputable, has strong customer ratings, and follows best practices.

Methodology

Investopedia is dedicated to providing its readers with unbiased, comprehensive reviews and comparisons. To rate online mortgage lenders, we collected hundreds of data points across 16 of the largest mortgage lenders, and ranked them according to online resources, customer service, underwriting requirements, and other factors.

Married couple walking on pathway in front of home — MoMo Productions / Getty Images

Article Sources

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

Consumer Financial Protection Bureau. "Your Home Loan Toolkit: A Step-by-Step Guide."