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Best Lenders for FHA Loans in 2018

Finding the Right Mortgage, Mortgages
At cheatgame.info, we adhere to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from our partners. Here’s how we make money.
We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

cheatgame.info offers financial tools and advice to help you understand your options and make the best possible decisions. The guidance we offer and information we provide are deeply researched, objective and independent.

We spent over 400 hours reviewing the top mortgage lenders before selecting the best for our readers. We’ve picked at least two lenders in several "best of" categories to help you find a lender that meets your needs.

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.

cheatgame.info has picked some of the best FHA lenders in a variety of categories so you can quickly determine which one is right for you.

cheatgame.info’s best lenders for FHA loans

 

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at Quicken Loans

Min. credit score

580

Min. down payment

3.5%

Why we like it

Ideal for FHA borrowers who like online convenience. Quicken is the largest FHA lender in the nation and a mortgage-technology leader.

 

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at Rocket Mortgage

Min. credit score

580

Min. down payment

3.5%

Why we like it

Ideal because it combines an app-easy experience to FHA loans. Rocket Mortgage boils down the government-lending process of FHA loans to an simple-to-complete smartphone app process.

 

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at New American

Min. credit score

580

Min. down payment

3.5%

Why we like it

Ideal for home buyers and refinancers who want an FHA mortgage and need to be evaluated using nontraditional credit criteria.

 

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at Guaranteed Rate

Min. credit score

580

Min. down payment

3.5%

Why we like it

Ideal for borrowers who want FHA-insured mortgages because they don't have much for a down payment. Guaranteed Rate is willing to work with borrowers looking for small down payments, but who are otherwise well-qualified.

 

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at PennyMac

Min. credit score

580

Min. down payment

3.5%

Why we like it

Ideal for those looking to refinance. PennyMac offers FHA Streamline Refinance and Cash-Out Refinance loans in addition to FHA purchase loans.

 

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at PNC Mortgage

Min. credit score

640

Min. down payment

3.5%

Why we like it

Ideal for borrowers who appreciate an online experience. PNC's Home Insight Tracker lets you know exactly where your application stands at all times.

 

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at CitiMortgage

National / regional

National

Min. down payment

3.5%

Why we like it

Ideal for borrowers with nontraditional credit. FHA mortgages from CitiMortgage feature low down payment options and flexible financial requirements so it's easier for first-time borrowers to obtain a home loan.

 

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at Flagstar

Min. credit score

580

Min. down payment

3.5%

Why we like it

Ideal for FHA borrowers who appreciate face-to-face service. Flagstar embraces FHA-backed mortgages, well suited for borrowers looking to qualify with rental payments, utility bills and other nontraditional credit sources.

 

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at Navy Federal

National / regional

National

Min. down payment

3.5%

Why we like it

Ideal for military personnel and their families. FHA mortgages from Navy Federal Credit Union include alternative credit scoring so it's easier for first-time borrowers to obtain a home loan.

 

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at Bank of America

Min. credit score

600

Min. down payment

3.5%

Why we like it

Ideal for borrowers who value a traditional bank with high-tech tools. Bank of America's Home Loan Navigator allows you to track the lending process online and upload paperwork digitally.


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Best lenders for FHA loans: summary

Best lenders for FHA loans: review

Lender
Best
for
Highlights
Minimum credit score*
Learn more
Quicken Loans
Refinance
Offers loans in all 50 states
580 (FHA) or 620 (conventional)
Rocket Mortgage
Rocket Mortgage
Online FHA mortgage experience
Largest online mortgage lender, with fully automated process
580 (FHA) or 620 (conventional)
New American Funding
naf logo-270x55 (1)
FHA for nontraditional credit histories
Flexibility in mortgage underwriting process, down payment assistance programs
580 (FHA) or 620 (conventional)
Guaranteed Rate
guaranteed-rate-270
Refinance
900+ mortgage originators
580 (FHA) or 620 (conventional)
PennyMac
pennymac-55x270
Online FHA mortgage experience
Convenient online loan support, including electronic document submissions
580 (FHA) or 620 (conventional)
PNC Mortgage
FHA for nontraditional credit histories
Use of nontraditional credit history items such as rent payments
640 (FHA) or 620 (conventional)
CitiMortgage
citimortgage
FHA for first-time homebuyers
Programs for first-time homebuyers, no PMI options
Not disclosed
Flagstar
flagstar_logo-55x270
FHA for first-time homebuyers
Matching to programs for first-time homebuyers and income-limited households
580 (FHA) or 620 (conventional)
Navy Federal
navy_federal_credit_union_logo-55x270
FHA with low down payment
Prioritizes FHA loans, offers $1,000 mortgage rate match program
N/A
Bank of America
Bank-Of-America-Logo
FHA with low down payment
Targets cash-strapped buyers by offering its own low-down-payment mortgage
600 (FHA) or 620 (conventional)

More from cheatgame.info
Compare FHA mortgage rates
Calculate FHA mortgage payments
Review FHA loan requirements

* Minimum credit score on top loans; other loan types or factors may selectively influence minimum credit score standards

cheatgame.info’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 cheatgame.info Mortgages team.