Best Mortgage Lenders of 2020 – 10/10 – Flagstar Bank
Best Lender for a Low Down Payment
While PennyMac is not related to massive lenders Fannie Mae and Freddie Mac, it is a name you may want to know if you are in the market for an FHA loan with a low down payment. PennyMac is a direct lender with a primarily online focused lending business.
It offers a full range of loans including conventional, jumbo, FHA, VA, and USDA loans. But for those with a low down payment, notably first-time buyers, you may find good rates and a better experience with this California based lender.