9 Best FHA 203(k) Mortgage Lenders of July 2025
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Home buyers can use an FHA 203(k) loan to purchase and renovate a house with the same mortgage — or, in the case of an existing home renovation, you can refinance and pay off home improvements within your monthly mortgage payment.
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Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
9 Best FHA 203(k) Mortgage Lenders of July 2025
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Lender | NerdWallet Rating | Min. credit score | Min. down payment | Learn more |
|---|---|---|---|---|
 New American Funding: NMLS#6606 Top 3 most visited 🏆 See Offers at New American Funding | 500 | 3.5% | Top 3 most visited 🏆 See Offers at New American Funding | |
 CrossCountry Mortgage: NMLS#3029 Compare More Lenders on NerdWallet | 500 | 3.5% | Compare More Lenders on NerdWallet | |
 Wintrust Mortgage: NMLS#449042 Compare More Lenders on NerdWallet | N/A | 3.5% | Compare More Lenders on NerdWallet | |
 Flagstar: NMLS#417490 Compare More Lenders on NerdWallet | 580 | 3.5% | Compare More Lenders on NerdWallet | |
 Guild Mortgage: NMLS#3274 Compare More Lenders on NerdWallet | 540 | 3.5% | Compare More Lenders on NerdWallet |
- Why we like itNew American Funding offers a large menu of loan products, including FHA 203(k) loans, as well as programs like first-time home buyer assistance.Pros
- Offers a wide variety of purchase and refinance mortgages.
- Has unique buyer assistance programs.
ConsRead full review- Average origination fees are on the high side, according to the latest federal data.
- Personalized mortgage rates are not available on the website without providing contact information.
- Why we like itCrossCountry Mortgage has a solid variety of FHA loans, as well as impressive down payment assistance programs for first-time buyers.Pros
- Average time to close is 21 days, which is faster than the industry standard.
- Qualified borrowers can receive up to $6,500 in down payment assistance.
- High market share of FHA loans.
ConsRead full review- Doesn’t post rates online.
- No mobile app.
- Why we like itWintrust has a highly rated mobile app and also offers in-person service at local community banks.Pros
- Highly rated mobile app.
- Offers FHA renovation loans.
- Offers up to $6,000 in down payment assistance to borrowers in Illinois and Wisconsin.
ConsRead full review- Can’t customize sample rates online.
- No chatbot or live chat for customer service.
- Doesn't offer FHA streamline or cash-out refinance loans.
- Why we like itFlagstar Bank, recently acquired by Mr. Cooper, stands out for its range of accessible loans and programs, including no-down-payment loans, localized loans with flexible requirements and a number of down payment grant options.Pros
- Reported average time to close (20-30 days) is faster than industry standard.
- Offers down payment assistance to first-time home buyers.
ConsRead full review- The lender’s mobile app is focused on banking, not mortgages.
- Some loans and programs are restricted by area.
- Why we like itGuild offers flexibility for borrowers with nontraditional credit. Down payment assistance is generous, especially for low-income borrowers in underserved communities.Pros
- Offers several programs to make homeownership more accessible.
- Offers loans for manufactured homes.
- Renovation loan options are available.
ConsRead full review- Does not publish interest rates online.
- No mortgage mobile app.
- Loans are not available in every state.
- Why we like itWorking with LoanDepot partners offers the potential for a streamlined mortgage process and cash back, and the lender offers a wide variety of FHA loan types.Pros
- Offers a variety of repayment terms for fixed-rate loans.
- Does a substantial amount of business in FHA lending.
- mello smartloan product can streamline mortgage application, appraisal and title search.
ConsRead full review- Interest rates are not available on the website.
- Can't apply for a mortgage on the lender's mobile app.
- Why we like itRate boasts a streamlined application process, with full underwriting in as little as one business day.Pros
- Fully underwritten mortgage approval in as little as one day for qualified borrowers.
- Generous selection of mortgages, including renovation loans.
ConsRead full review- Doesn't offer customer service chat with a live agent.
- Why we like itThe Movement Boost program can cover your whole FHA down payment, plus closing cost assistance. There's no income limit, and repeat buyers are eligible, too.Pros
- Average closing time under 25 days, faster than the national average.
- Offers down payment and closing cost assistance for FHA loans, with no income limits.
- Lends a high market share of FHA loans.
ConsRead full review- Doesn’t post mortgage rates online.
- No online chat for customer service.
- Why we like itPrimeLending is experienced in financing for fixer-uppers, including 203(k) renovation mortgages, and lends a high volume of FHA loans.Pros
- Offers closing cost assistance.
- Wide variety of loan types, including renovation, refinance and energy-efficient FHA loans.
- Lends a high volume of government-backed loans."
ConsRead full review- Loans are not available in all states.
- Rates are not posted online.
- Does not have a mobile app.
More from NerdWallet
Last updated on January 2, 2025
Frequently asked questions
In addition to the lenders we've highlighted above, you can also use the Department of Housing and Urban Development's FHA lender search page to find FHA 203(k) loan lenders. It's a helpful tool, because while FHA 203(k) rehab loans are widely available, not every FHA-approved lender offers the 203(k).
To use the HUD search tool, enter your search parameters — your state is probably the most important, since lenders are licensed by individual states — and click the "Rehabilitation" box at the bottom of the list, where it says "203(k) Rehabilitation Mortgage Insurance Program." If you're trying to get the scoop on a specific lender, you can just enter the company name at the top of the form, then click the "Rehabilitation" box at the bottom.
» MORE: Best FHA lenders
FHA 203(k) loans have the same down payment requirements as standard FHA loans. If your credit score is 580 or above, the FHA allows a down payment as low as 3.5%. For credit scores between 500 and 579, the required FHA down payment is 10%.
Although the FHA has low credit score requirements, individual lenders may choose to set higher minimums. If your credit score falls below 620 or so, you may need to do more hunting to find a lender that will approve your 203(k).
All FHA loans, including the 203(k), allow you to use gift money or other forms of down payment assistance.
To qualify for an FHA 203(k) loan, you'll have to meet the same FHA requirements you would for a standard loan. These include the credit score and down payment minimums, as well as having a debt-to-income ratio of no more than 43%. In some cases a slightly higher DTI may be allowed.
The property you're buying or refinancing must be your primary residence. Though the home does not have to be up to the FHA's housing standards — after all, you're fixing it up — the property should be able to pass an FHA appraisal after the repairs are completed.
Methodology
The star ratings on this page reflect each lender's rating for FHA products. Read more about how we determine those ratings.
The lenders on this page are chosen using this methodology:
NerdWallet reviewed more than 40 mortgage lenders, including the majority of the largest U.S. mortgage lenders by annual loan volume (measured among lenders with at least a 1% market share), lenders with significant online search volume and those that specialize in serving various audiences across the country. We rated them on criteria including rate transparency, loan types offered, ease of application and more.
Some of the providers are NerdWallet partners, but this did not influence our selections.
For inclusion on this roundup, lenders must score a 4 or above according to our FHA loan methodology and offer 203(k) loans.
NerdWallet solicits information from reviewed lenders on a recurring basis throughout the year. All lender-provided information is verified through lender websites and interviews. We also utilized 2023 HMDA data for origination volume, origination fee, average interest rate and share-of-product data.
NerdWallet's Best FHA 203(k) Mortgage Lenders of July 2025
- New American Funding: Best for highly rated mobile app
- CrossCountry Mortgage: Best for down payment assistance
- Wintrust Mortgage: Best for variety of government loans
- Flagstar: Best for FHA loans overall
- Guild Mortgage: Best for borrowers with nontraditional credit
- loanDepot: Best for variety of repayment terms
- Rate: Best for fast preapproval
- Movement Mortgage: Best for down payment assistance
- PrimeLending: Best for fixer-uppers overall
