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Best FHA Loan Lenders

Not everyone has the ability to put down 20% on a new home purchase. FHA loans are one way the U.S. government has decided to help Americans achieve the dream of owning a home. Your credit score doesn’t have to be perfect to apply for an FHA loan, and you will only have to to put down 3.5% on your home.

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by Michele Lerner Mortgage & Real Estate Contributing Editor
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Best FHA lender overall(866) 815-0655Read Reviews
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Best for bad creditRead Reviews
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Best online FHA lender(855) 321-7366Read Reviews

Top 3 Best FHA Loan Lenders

When weighing the top FHA lenders we considered which lenders are most likely to provide a superior experience for home buyers and a mortgage that is affordable in the long run. When choosing top FHA lenders, we considered interest rates, customer service, transparent pricing, minimum credit scores, debt-to-income ratio requirements, additional services and consumer reviews.


Best FHA lender overall
AmeriSave Mortgage

Company nameContact
AmeriSave Mortgage
  • 600 minimum credit score
  • 3.5% minimum down payment
  • 45% maximum debt-to-income ratio

One of AmeriSave Mortgage’s specialties is FHA mortgages. Refinancing into an FHA mortgage, either from a conventional loan or an existing FHA loan, is also an option. AmeriSave offers upfront rates (interest rates and APRs) for FHA loans and FHA refinancing on their website, taking into account the loan amount, loan-to-value ratio, geographical location and credit score. It takes an average of 33 days for borrowers to move from AmeriSave guaranteeing a rate to the actual funding. Terms are available in the length of 5, 7, 10, 15, 20, 25 or 30 years with both fixed and adjustable rates.

Applicants can receive incentives ranging from $250–$4,500 for purchasing homes within AmeriSave’s affiliated network. Applicants can also choose for closings to be held at their home or a local AmeriSave office. Throughout the process, each applicant will be able to rely on a dedicated loan officer and loan processor for assistance. General customer service is available from 7 am to 4 pm CST. AmeriSave is licensed in the District of Columbia and every state except New York and Iowa.


Best FHA lender for bad credit:
JG Wentworth Home Lending

Company nameContact
JG Wentworth Home Lending
  • 580 minimum credit score
  • 3.5% minimum down payment
  • 45% maximum debt-to-income ratio

You may know JG Wentworth from their famous TV commercial jingle, but they are also a good choice for an FHA loan, especially if you are struggling with poor credit. JG Wentworth offers a variety of loan types at different rates, and they are willing to work hard to make the loan work for you, even if you have low credit. Loans come with both fixed and adjustable rates. Unlike some other companies, JG Wentworth does not use points. Their fixed-rate loans come in terms of 15, 20 and 30 years. Adjustable-rate loans are available in 3/1, 5/1, 7/1 and 10/1 terms. If you are looking to buy a fixer-upper, it’s worth looking into one of JG Wentworth’s FHA 203(k) loans.

JG Wentworth’s “Close-On-Time Guarantee” means that, if your loan doesn’t close on time, they’ll foot the bill for your first month’s mortgage, up to $2,500. You are also able to lock rates that you like for up to 60 days. Consumers can to apply online on the JG Wentworth website. The process is entirely digital, including the pre-application process and correspondences afterward by email. If you would prefer to speak to a real person, a licensed loan specialist can assist you. However, there are physical locations in only 15 states. JG Wentworth is licensed for business in 45 states and the District of Columbia. Mortgages are unavailable in Hawaii, Missouri, Montana, Nevada and New York.


Best online FHA lender:
Homebridge Financial Services

Company nameContact
Homebridge Financial Services
  • 550 minimum credit score
  • 3.5% minimum down payment
  • 43% maximum debt-to-income ratio

Homebridge Financial is known for their efficient, easy-to-use online services. Creating an account online allows consumers to speak to mortgage loan originators directly and track their application throughout the entire process. These local mortgage loan originators can meet with you in person or guide you through the process online. Homebridge also have a wealth of educational material and tools on their website, making it easy for homebuyers to learn the ins and outs of the FHA loan application process.

Homebridge has physical locations in 30 states but is licensed for business in all 50 states. Homebridge’s minimum credit score of 550 for FHA loans (and all other government-backed loans) is one of the lowest around, making it an appropriate choice for those with weaker credit. The company is a good choice if you are looking to refinance an existing FHA loan, whether that be for lower payments, shorter pay-off term, lower interest costs or cash out. Homebridge also offers FHA 203(k) loans for those who are interested in renovating their home. The company’s FHA Energy Efficient mortgages are a good choice for those looking to save money on utilities by converting their house into an energy-efficient home. Last of all, Homebridge’s FHA 203(h) loans help homeowners rebuild after a natural disaster.

How to apply for an FHA loan

  1. Check if you qualify for an FHA loan
    Almost anyone can qualify for an FHA loan. The minimum requirements include having a credit score of at least 500 and a debt-to-income ratio of 43 percent or less, including your new mortgage payment.
  2. Find an FHA mortgage lender and get pre-approved
    Get quotes from a few FHA-approved lenders to see which one can offer you the best rate on your FHA mortgage. You can get pre-approved at this stage so you know what your budget is.
  3. Complete the FHA loan application
    Once you have found the house you want to buy, it’s time to fill out your FHA loan application with your chosen lender. Applying for an FHA loan can often be done online, or you can submit paperwork directly to your mortgage lender.
  4. Get an FHA appraisal
    All homes bought with an FHA loan are subject to an appraisal to ensure the home is up to the FHA’s standards and to determine what the value is.

    The appraisal might determine that your home needs renovating. If your new home requires significant renovations before you can move in, you can apply for an FHA 203(k) loan, which will help you cover the cost of renovating or fixing your home once you buy it. Your renovation will need to be complete within six months.
  5. Sign closing documents
    The process of applying for and closing on an FHA loan can take anywhere from a few weeks to a few months. Having an efficient underwriter and mortgage lender can make the difference between getting in your home quickly or having to wait an extra month, so make sure to do your homework and choose a lender with a reputation for an efficient closing process.

Not sure how to choose?

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    Top 10 Best FHA Lenders

    ClearPath Lending
    Read 849 Reviews

    Offers FHA, VA, conventional and jumbo loans for purchase, plus mortgage refinancing options. Lets customers track loan progress via an online portal. Funds most loans within 30 days.

    Toll free number (855) 980-6844
    Quicken Loans
    Read 4,768 Reviews

    Offers conventional mortgages plus FHA, VA and jumbo loans. Refinancing options available to lower payments, change terms or take cash out. Provides fast online application process through RocketMortgage.

    Homebridge Financial Services
    Read 876 Reviews

    Provides purchase, refinance and renovation loans. Minimum down payments range from 0% to 20%. Gives current mortgage rates based on the loan type, occupancy, home description and credit profile. Privately held lender.

    Toll free number (844) 707-8340
    Read 1,513 Reviews

    Specializes in home purchase loans, home refinance, home equity and reverse mortgages. Compares rates and quotes from multiple lenders. Provides free mortgage calculator.

    AmeriSave Mortgage
    Read 2,832 Reviews

    Provides FHA, VA, USDA and jumbo purchase loans plus cash-out refinancing options. Gives accurate quotes within minutes. Prequalify and close in as little as 25 days. Direct mortgage lender.

    Toll free number (855) 794-5993
    J.G. Wentworth Home Lending
    Read 304 Reviews

    Offers conventional, fixed-rate, adjustable-rate, FHA, VA, USDA and HARP loans. No points or hidden fees. Requires a minimum credit score of 580. Direct mortgage lender.

    Wells Fargo Mortgage
    Read 1,435 Reviews

    Offers mortgage loan option to buy a house, refinance an existing mortgage and tap into your home equity. Lets clients compare rates and track their online application through yourLoanTracker tool.

    Bank of America Mortgages
    Read 2,860 Reviews

    Offers affordable loan programs, jumbo loans, FHA and VA mortgages plus refinancing and home equity loan options. Gives prequalifications online. Preferred Rewards clients can qualify for up to $600 off the origination fee.

    Citizens One
    Read 119 Reviews

    Provides FHA, VA and doctor loan programs plus refinancing options, home equity lines of credit and personal loans. Offers one-on-one support and easy access to transparent pricing.

    1st Choice Mortgage
    Read 8 Reviews

    This lender specializes in FHA loans and also offers a 3% down purchase program, lease-purchase, bank statement loans, rental property loans and bankruptcy buyouts.

    Not sure who to choose?

    Take our two minute quiz to find the right mortgage company for you.

      by Michele Lerner Mortgage & Real Estate Contributing Editor

      Michele Lerner, author of “HOMEBUYING: Tough Times, First Time, Any Time”, has been writing about personal finance and real estate for more than two decades. Michele writes for regional, national and international publications in print and online for a variety of audiences including consumers, real estate investors, business owners and real estate professionals.

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