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Find the Best FHA Loan Lenders

If you can’t put down 20% on a new home purchase, use our guide to research the best FHA loan lender for you. We explain how FHA loans help many 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 only have to put down a 3.5% down payment.

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Our 3 favorite FHA Loan Lenders

When weighing our favorite 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. We also considered interest rates, customer service, transparent pricing, minimum credit scores, debt-to-income ratio requirements, additional services and consumer reviews.

Our favorite FHA lender overall
AmeriSave Mortgage

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AmeriSave Mortgage
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  • 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.

Great FHA lender for bad credit
JG Wentworth Home Lending

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JG Wentworth Home Lending
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  • 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.

Great online FHA lender
Homebridge Financial Services

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Homebridge Financial Services
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  • 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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    Compare Top FHA Lender Reviews

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    ConsumerAffairs Accredited Partner Icon
    Accredited Partner
    Quicken Loans
    Read 5,294 Reviews

    Conventional mortgages and FHA, VA and jumbo loans. Refinancing options available to lower payments, change terms or take cash out. Fast online application through RocketMortgage. 3% to 6% closing costs. 90-day locked rates.

    Learn More Call Now Toll Free (844) 936-3123
    LendingTree
    Read 1,538 Reviews

    Compares rates and quotes from multiple lenders for a variety of loan types. Free services. Use of the site doesn’t affect credit score. Provides a list of loan options tailored to the user’s situation.

    Get a Quote
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    AmeriSave Mortgage
    Read 3,757 Reviews

    Offers affordable mortgages and an easy online approval process. Custom quotes with no obligations, commitments or hidden fees. Provides conventional, jumbo, FHA, VA and USDA loans. No application or origination fees.

    Learn More Call Now Toll Free (866) 815-0655
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    ClearPath Lending
    Read 1,029 Reviews

    Nationwide mortgage lender based in California. Offers VA, FHA, conventional and jumbo loans in almost every state. Specializes in fixed-rate and adjustable-rate loans and guarantees low prices. Pre-qualifications in 15 minutes.

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    Homebridge Financial Services
    Read 888 Reviews

    Private lending firm for homebuyers. Traditional and niche wholesale and retail loans. Options for purchasing, refinancing and renovating. Licensed in all 50 states except Utah. Down payments as low as 3% and financing up to 100%.

    Get a Quote Call Now Toll Free (855) 321-7366
    Wells Fargo Mortgage
    Read 1,526 Reviews

    Offers home, refinancing and equity loans. Online and in-store services available. Work with a local consultant. Interest rates vary depending on customer qualifications. Closing costs typically 2% to 5% of the purchase price.

    Bank of America Mortgage
    Read 2,880 Reviews

    Online and in-store loan services. Offers jumbo, adjustable-rate and fixed-rate loans. Loan specialists on staff. Pre-qualification and preapproval services available. APRs start around 3% for adjustable-rate mortgages.

    Citizens One
    Read 159 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. Online rate-checking tool.

    Freedom Mortgage
    Read 307 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. Online recurring and one-time payment options.

    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.