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.

NerdWallet
Written by
Last updated on January 6, 2022
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✅ Fact checked and reviewed
Alex Richards
Edited by
✅ Fact checked and reviewed

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12 Best FHFC Mortgage Lenders of 2022

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Lender
NerdWallet Rating
Min. credit score
Min. down payment
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Guaranteed Rate

Guaranteed Rate: NMLS#2611

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at Guaranteed Rate
at Guaranteed Rate
Home loans overall
Best for online experience

620

3%

New American Funding

New American Funding: NMLS#6606

4.0
/5
Home loans overall
Best for first-time home buyers

580

3%

Fairway Independent Mortgage

Fairway Independent Mortgage: NMLS#2289

4.0
/5
VA loans
Best for veterans

640

0%

loanDepot

loanDepot: NMLS#174457

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3.5
/5
Home loans overall
Best for customer service

620

5%

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Citibank

Citibank: NMLS#412915

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4.0
/5
Home loans overall
Best for borrowers with no credit history

N/A

3%

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Guaranteed Rate
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at Guaranteed Rate
at Guaranteed Rate
Guaranteed Rate

Guaranteed Rate: NMLS#2611

5.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: borrowers seeking a broad menu of loans, including jumbo and interest-only options, renovation loans and government-backed mortgages, as well as home equity lines of credit.
Pros
  • Offers a one-day mortgage approval process.
  • Offers a generous selection of loans, including government-backed, interest-only, ITIN, jumbo and renovation loans.
  • Advertises a HELOC that can be funded in as few as five business days.
Cons
  • Origination fees are higher than average, according to the latest federal data.
  • HELOC has a relatively short draw period, which may not provide flexibility for someone who wants the option of accessing home equity over a longer period.
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New American Funding
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at New American Funding
at New American Funding
New American Funding

New American Funding: NMLS#6606

4.0
Home loans overall
NerdWallet rating
Min. credit score

580

Min. down payment

3%

Why We Like ItGood for: first-time home buyers, military members and self-employed or underrepresented borrowers.
Pros
  • Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
  • Its home equity line of credit can be used for an owner-occupied or second home.
  • Has a program to enable buyers to make cash offers.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Mortgage origination fees tend to be on the high end.
  • Personalized mortgage rates are not available on the website without providing contact information.
Fairway Independent Mortgage
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at Fairway Independent Mortgage
at Fairway Independent Mortgage
Fairway Independent Mortgage

Fairway Independent Mortgage: NMLS#2289

Min. 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.
loanDepot
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loanDepot

loanDepot: NMLS#174457

3.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

5%

Why We Like ItGood for: borrowers who are comfortable with an entirely online experience, and who want a one-stop shop for buying and selling.
Pros
  • Offers a variety of repayment terms.
  • Online loan calculator lets borrowers compare monthly payments and lifetime interest.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • No sample interest rates are provided.
  • Origination fees are on the higher end, according to the latest federal data.
  • Lender’s website does not have a live chat feature.
Citibank
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Citibank

Citibank: NMLS#412915

4.0
Home loans overall
NerdWallet rating
National / regional

National

Min. down payment

3%

Why We Like ItGood for: Rates-focused borrowers who are Citi customers, or home buyers seeking down payment assistance.
Pros
  • Average interest rates are among the lowest compared to other lenders’, according to the latest federal data.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
  • Borrowers with existing Citi accounts may receive discounts.
Cons
  • Customized mortgage rates are not available without contacting the lender.
  • HELOCs and home equity loans are not currently available.
  • No live chat feature on the lender’s site.
SunTrust (Truist)
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SunTrust (Truist)

SunTrust (Truist): NMLS#2915

4.5
Home loans overall
NerdWallet rating
Min. 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.
BB&T (Truist)
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BB&T (Truist)

BB&T (Truist): NMLS#399803

4.5
Home loans overall
NerdWallet rating
Min. 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.
Guild Mortgage
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Guild Mortgage

Guild Mortgage: NMLS#3274

3.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: borrowers who value customer service, and first-time home buyers and others who may need the flexibility of a low-down-payment loan program.
Pros
  • Offers a wide variety of loan options, including home improvement loans and mortgages for manufactured homes.
  • Has branches in most states.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Origination fees and mortgage rates tend to be on the high side, according to the latest federal data.
  • Mortgage rates are not published online.
  • Mobile app receives mostly negative reviews from users.
Caliber
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Caliber

Caliber: NMLS#15622

Min. credit score

580

Min. down payment

0%

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.
Alterra
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Alterra

Alterra: NMLS#133739

3.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

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.
Homebridge
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Homebridge

Homebridge: NMLS#6521

3.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

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.
PrimeLending
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PrimeLending

PrimeLending: NMLS#13649

3.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: those seeking to buy a fixer-upper, build a new home or make renovations.
Pros
  • Offers a broad selection of renovation loans to finance cosmetic upgrades or structural repairs.
  • Issues loan approval letters within 24 hours to borrowers who qualify.
  • Offers resources to connect eligible borrowers with closing cost and down payment assistance programs.
Cons
  • No online mortgage rates — you have to contact the lender for information.
  • Rates and fees are on the high side, according to the latest federal data.
  • Doesn't offer home equity loans or lines of credit.

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.

To recap our selections...

NerdWallet's Best FHFC Mortgage Lenders of 2022

  • Guaranteed 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
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