Ten years ago, getting a mortgage online sounded unusual. Today, it’s the norm. Buyers expect quick applications, rate transparency, and the convenience of handling the entire process from a laptop or phone. But convenience isn’t the same as value—some digital lenders offer strong pricing and smooth closings, while others rely on heavy advertising without much substance behind it.
To separate signal from noise and assist homebuyers in uncovering the lowest rates, we dug into national lending data from 2024. Using TrueRate analysis and HMDA data, we looked at closed 30-year fixed conventional purchase loans, comparing what borrowers actually paid—not advertised specials. To make sure these lenders who seem
How the list was picked
To make the cut as one of the best online lenders, each company had to:
- Be digital-first, offering a primarily online experience from application to closing
- Operate across multiple states
- Deliver below-median rates (a negative delta compared to 2024 market averages via Truerate data)
- Be backed by independent borrower reviews confirming transparency, responsiveness, and service
1. Tomo Mortgage
Tomo scrapped lender fees entirely and focuses solely on home purchases. Borrowers can see real, lockable rates instantly online — no bait-and-switch. Its responsive team and competitive pricing make it one of the strongest digital-first options and was ranked Best Online Lender 2025 by Bankrate.Rate advantage: –0.30% vs. 2024 median
Lender fees: $0
Recent reviews:
“Tomo went beyond for every step of the way… One of the best.” — via Zillow
“Loan advisory team was remarkably responsive… stayed engaged until the very end.” — Selva D., NJ (via Google Reviews)
“Because of Tomo’s low APRs… it gets a perfect 5 out of 5 stars for affordability.” — Bankrate Editors
2. American Internet Mortgage (AimLoan)
Founded in 1998, AimLoan was one of the first purely digital mortgage companies. Its no-frills, automation-heavy model keeps costs low and passes savings directly to borrowers.
Rate advantage: –0.33% vs. 2024 median
Lender fees: ~$995
Recent reviews:
“Got the best offer from AIM for 30 years fixed rate home refinance (Investment property). Loan approval was quick. Low closing cost and everything was online and smooth. I would highly recommend AIM.” — Sabyasachi D., AZ, Zillow
3. Premia Mortgage
Premia specializes in relocation loans, often serving Fortune 500 employees and government workers. Its digital-first approach is tailored to handle complex moves and cross-state transactions.Rate advantage: –0.28% vs. 2024 median
Lender fees: ~$875
Recent reviews
“Premia Relocation Mortgage will go above and beyond to understand the homebuyer’s needs… ultimately, Premia finds a way to match those rates.” — via BBB
4. Kwik Mortgage
True to its name, Kwik Mortgage emphasizes speed. Borrowers highlight straightforward applications and fast closing timelines, with consistently below-median rates.
Rate advantage: –0.27% vs. 2024 median
Lender fees: ~$1,095
Recent reviews
“Viral and his team are very quick to close loan. They have best rate for fixed rate loan. I had refinance with them 2 times already and referred friends and family.” Ravi S, NJ, — via Zillow
Market Giants Worth Noting
Some of the biggest online mortgage companies move huge loan volumes but don’t always provide the same cost advantage. Per 2024 HMDA data here are some of the giants in digital lending.
- Rocket Mortgage originated more than $92B in 2024, with over 299,000 loans. While its footprint is massive, rates in our dataset didn’t consistently beat the median.
- Rate handled roughly $24B across 58,000 loans. On average, its pricing was only about 0.04% better than the national median—enough for modest savings over a decade, but thousands more expensive compared to a lender like Tomo.
Takeaway: Size and advertising muscle don’t always equal savings. A few minutes of rate shopping can translate to thousands of dollars over the life of your loan.
