You might think all Federal Housing Administration lenders are the same. But even when you’re looking for an FHA loan, it’s always smart to shop at least three lenders before taking out a mortgage. Mortgage rates, origination fees, appraisal fees and other costs to borrow can vary substantially between lenders, and you should look until you find a lender that meets your needs. Remember, the lender you choose will affect how fast you can close, how much you pay and, ultimately, whether you can buy the home you want.
» MORE: Monitor your credit score
When choosing an FHA lender — for purchase or refinance — consider which factors matter most to you: Some borrowers want the lowest possible monthly payment, some want a shorter term on their mortgage, and some want the lowest closing costs they can find.
NerdWallet has picked some of the best FHA lenders in a variety of categories so you can quickly determine which one is right for you.
» MORE: Five tips for finding the best FHA mortgage lenders
NerdWallet’s best lenders for FHA loans
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Best lenders for FHA loans: summary
- Best for FHA refinance: Quicken Loans
- Best for online FHA mortgage experience: Rocket Mortgage
- Best for nontraditional credit histories: New American Funding
- Best for FHA refinance: Guaranteed Rate
- Best for online FHA mortgage experience: PennyMac
- Best for nontraditional credit histories: PNC Mortgage
- Best for first-time homebuyers: CitiMortgage
- Best for first-time homebuyers: Flagstar Bank
- Best for low down payment: Navy Federal Mortgage
- Best for low down payment: Bank of America
Best lenders for FHA loans: review
Lender | Best for | Highlights | Minimum credit score* | Learn more |
---|---|---|---|---|
Refinance | Offers loans in all 50 states | 580 (FHA) or 620 (conventional) | ||
Online FHA mortgage experience | Largest online mortgage lender, with fully automated process | 580 (FHA) or 620 (conventional) | ||
FHA for nontraditional credit histories | Flexibility in mortgage underwriting process, down payment assistance programs | 580 (FHA) or 620 (conventional) | ||
Refinance | 900+ mortgage originators | 580 (FHA) or 620 (conventional) | ||
Online FHA mortgage experience | Convenient online loan support, including electronic document submissions | 580 (FHA) or 620 (conventional) | ||
FHA for nontraditional credit histories | Use of nontraditional credit history items such as rent payments | 640 (FHA) or 620 (conventional) | ||
FHA for first-time homebuyers | Programs for first-time homebuyers, no PMI options | Not disclosed | ||
FHA for first-time homebuyers | Matching to programs for first-time homebuyers and income-limited households | 580 (FHA) or 620 (conventional) | ||
FHA with low down payment | Prioritizes FHA loans, offers $1,000 mortgage rate match program | N/A | ||
FHA with low down payment | Targets cash-strapped buyers by offering its own low-down-payment mortgage | 600 (FHA) or 620 (conventional) |
More from NerdWallet
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* Minimum credit score on top loans; other loan types or factors may selectively influence minimum credit score standards NerdWallet’s selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.