12 Best FHFC Mortgage Lenders of 2022
Florida Housing Finance Corporation loan programs can help you buy your first home by offering down payment and closing cost assistance. Check out our top picks for FHFC lenders.
Last updated on January 6, 2022
Written by
Edited by
Alex Richards
Fact Checked
Fact Checked
Written by
Edited by
Alex Richards
Fact Checked
Fact Checked
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Through its mortgage and assistance programs, the Florida Housing Finance Corporation, or FHFC, makes homeownership affordable for many first-time buyers.
You’ll need to work with an FHFC-approved lender to make sure you’re eligible and apply for a loan, but selecting a Florida mortgage provider from so many options can be hard.
To narrow your search, NerdWallet compared many of FHFC’s participating lenders, identifying the best ones for a variety of needs.
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.
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.
12 Best FHFC Mortgage Lenders of 2022
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Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | Learn more |
|---|---|---|---|---|
 Rate: NMLS#2611 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
580 | 3% | Learn more at New American Funding | ||
 Fairway Independent Mortgage: NMLS#2289 Learn more at Fairway Independent Mortgage | 640 | 0% | Learn more at Fairway Independent Mortgage | |
 loanDepot: NMLS#174457 LEARN MORE on NerdWallet | 620 | 3% | LEARN MORE on NerdWallet | |
 Citibank: NMLS#412915 LEARN MORE on NerdWallet | N/A | 3% | LEARN MORE on NerdWallet |
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on NerdWallet
Why We Like ItRate boasts a streamlined application process, with full underwriting in as little as one business day, though average fees are higher than many competitors’.
Pros
- Fully underwritten mortgage approval in as little as one day for qualified borrowers.
- Generous selection of loans, including government-backed, interest-only, jumbo and renovation.
- Advertises a HELOC that can be funded in as few as five business days.
Cons
- Origination fees are on the high side, according to the latest federal data.
- HELOC requires immediate, full withdrawal of funds.
Learn more
at New American Funding
New American Funding: NMLS#6606
4.0
Home loans overall
NerdWallet ratingMin. credit score
580
Min. down payment
3%
Why We Like ItNew American Funding offers a large menu of loan products, as well as programs like first-time home buyer assistance, but personalized mortgage rates aren't available on its website.
Pros
- Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
- Its home equity line of credit can be used for a primary residence or second home.
Cons
- 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.
Learn more
at Fairway Independent Mortgage
Fairway Independent Mortgage: NMLS#2289
4.0
VA loans
NerdWallet ratingMin. credit score
640
Min. down payment
0%
Why We Like ItGood for: borrowers who want access to a wide variety of mortgages, including renovation loans and ITIN loans.
Pros
- Offers a robust suite of loan products, including ITIN loans for borrowers without Social Security numbers, renovation loans, government-backed mortgages and loans for self-employed borrowers.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
- Mortgage rates for different types of loans aren't posted online.
- Origination fees are on the high side compared with other lenders, according to the latest federal data.
LEARN MORE
on NerdWallet
Why We Like ItLoanDepot is a large nonbank lender that offers the potential for a streamlined mortgage process and cash back, but to start an application or get a rate quote you must work with a loan officer over the phone.
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.
Cons
- Interest rates are not available on the website.
- Origination fees are on the higher end, according to the latest federal data.
LEARN MORE
on NerdWallet
Citibank: NMLS#412915
4.0
Home loans overall
NerdWallet ratingNational / regional
National
Min. down payment
3%
Why We Like ItCiti offers solid customer support and a highly rated mobile app. Borrowers need to contact the lender for a customized rate quote or preapproval — but average mortgage rates are among the lowest of lenders we review.
Pros
- Very low average interest rates compared to other lenders, according to the latest federal data.
- Closing cost credits and interest rate discounts available.
- Highly rated mobile app.
Cons
- Preapproval and application require a phone call to complete.
- Must contact the lender for customized rate quote.
- Doesn’t offer renovation or construction-to-permanent loans.
LEARN MORE
on NerdWallet
SunTrust (Truist): NMLS#2915
4.5
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
3%
Why We Like ItGood for: first-time home buyers, doctors and other borrowers interested in low-down-payment mortgage options.
Pros
- Offers a wide variety of loan options, including special programs for doctors.
- Offers a complete suite of online mortgage application tools and loan tracking.
- Sample rates and fees are easy to find on the website.
Cons
- Customized rates aren't available online without starting an application.
- Branches are limited mostly to the Southeast.
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on NerdWallet
BB&T (Truist): NMLS#399803
4.5
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
3%
Why We Like ItGood for: borrowers in the Southeast who want the option of face-to-face service. BB&T is now part of Truist Financial Corp., which offers a full menu of home loans.
Pros
- Offers a variety of home loans, including construction-to-permanent loans, physicians loans and jumbo loans.
- Has a robust online mortgage application.
Cons
- Branches limited to mostly the Southeast region.
- Custom rates are only available if you speak with a representative.
LEARN MORE
on NerdWallet
Guild Mortgage: NMLS#3274
4.0
Home loans overall
NerdWallet ratingMin. credit score
N/A
Min. down payment
3%
Why We Like ItGuild offers a number of loans and programs that stand out, including renovation loans and home equity products. However, Guild does not have a mobile app, and interest rates aren’t published online.
Pros
- Offers several programs to make homeownership more accessible.
- Offers loans for manufactured homes.
- Renovation loan options are available.
Cons
- Does not publish interest rates online.
- No mortgage mobile app.
- Loans are not available in every state.
LEARN MORE
on NerdWallet
Why We Like ItGood for: first-time home buyers, veterans and those who may have credit challenges to overcome.
Pros
- Offers extensive educational resources for military borrowers.
- Participates in some down payment assistance and first-time home buyer programs.
Cons
- No mortgage rates displayed online.
- Doesn’t offer home equity loans or lines of credit.
LEARN MORE
on NerdWallet
Why We Like ItGood for: borrowers who are looking for an ITIN loan.
Pros
- Offers government loans, down payment assistance loans and ITIN loans, among other options.
- Has branch locations across the country for borrowers who prefer an in-person experience.
- Site has a live chat feature.
Cons
- Mortgage rates and origination fees are higher than the majority of lenders.
- Borrowers must contact the lender for specific information about their loan offerings and interest rates.
- Does not offer home equity products or adjustable-rate mortgages.
LEARN MORE
on NerdWallet
Why We Like ItGood for borrowers who want a loan officer's help, in person or on the phone, when deciding among the wide range of available mortgage options — including loans to buy and renovate.
Pros
- Offers a full array of mortgage products, including government and renovation loans.
- Online portal keeps borrowers up to date on the loan application's progress.
- Offers home equity lines of credit, or HELOCs.
Cons
- Doesn't post interest rates on its site.
- Lender fees are on the high side, according to the latest federal data.
LEARN MORE
on NerdWallet
PrimeLending: NMLS#13649
4.0
Home loans overall
NerdWallet ratingMin. credit score
620
Min. down payment
3%
Why We Like ItPrimeLending stands out for its wide variety of loan types, including non-QM loans and renovation and construction options, but lacks some technical features like online rates or a mobile app.
Pros
- Offers closing cost assistance.
- Wide variety of loan types, including non-QM loans.
- Mortgages are available for manufactured homes, including 3D-printed houses.
Cons
- 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 6, 2022
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
NerdWallet's Best FHFC Mortgage Lenders of 2022
- Rate: Best for online experience
- New American Funding: Best for first-time home buyers
- Fairway Independent Mortgage: Best for veterans
- loanDepot: Best for customer service
- Citibank: Best for borrowers with no credit history
- SunTrust (Truist): Best for Latino borrowers
- BB&T (Truist): Best for borrowers with no credit history
- Guild Mortgage: Best for online experience
- Caliber: Best for veterans
- Alterra: Best for Latino borrowers
- Homebridge: Best for online convenience
- PrimeLending: Best for fixer-uppers
