Best FHA Loan Lenders

If you only have enough money for a 3.5% to 10% down payment on a new home, you can apply for an FHA loan, backed by the United States government, from one of the Federal Housing Administration's list of approved lenders.

Best Lenders for FHA Loans at a Glance

Loan ProviderCredit ScoreTop ProVisit Site

J.G Wentworth home lending

580Accepts most borrowersVisit Site

Quicken Loans

580Largest FHA lenderVisit Site

Rocket Mortgage

580Quote in minutesVisit Site

First Internet Bank

580 or lessRates listed on homepageVisit Site


VariesCovers home repairsVisit Site

What Kind of Credit Do You Need for an FHA Loan?

Borrowers with a credit score of at least 580 can secure an FHA insured loan with just a 3.5% down payment, while borrowers with a lower credit score of 500-579 will be asked to pay 10% of the value of the loan as a down payment. Under the terms of an FHA loan, borrowers are also required to pay two types of private mortgage insurance (PMI): an upfront payment of 1.75% of the value of the loan, plus up to 0.85% per annum.

What Do You Need to Know About the FHA Loan Approval Process?

The process of applying for an FHA loan is similar to applying for a traditional loan, except it must be done with an FHA-approved lender, and you will need to show you meet the minimum credit score and other requirements specific to an FHA insured loan. See here for a complete list of guidelines.

Because of the unique specifications, it’s worth seeking out a top FHA lender that has experience with these loans, such as the 5 lenders listed below.

Best Lenders for FHA Loans

J.G Wentworth home lending

  • Useful reading materials on website
  • Submit all documents digitally
  • Experience with borrowers with low credit scores

J.G. Wentworth issues home loans for every type of borrower, including FHA loans. Its website offers plenty of free educational resources, which can be particularly useful if you’re purchasing your first home and would like to learn more from your lender without committing to anything.

Like a number of lenders, J.G. Wentworth has streamlined its application process to allow applicants to fill out paperwork and submit documents online. An additional advantage to J.G. Wentworth is its experience with borrowers with low credit scores: in addition to FHA loans, this lender only requires the bare-minimum credit score of 620 for conventional mortgages.

Best Perk: Digital document submission

Visit J.G. Wentworth


Quicken Loans

  • Largest FHA lender
  • Streamlined application process
  • Extensive education resources

Quicken Loans is the largest FHA lender in the U.S., and one of the largest lenders in general. It offers lots of educational resources to prospective borrowers, as well as a streamlined application process. Prospective borrowers may open an application for an FHA loan by talking to one of Quicken’s home loan experts or by applying online through its Rocket Mortgage platform (more on that below).

As the name suggests, everything about Quicken is designed to save time: it offers borrowers the option of filing documents online, the support team is available outside of regular bank hours, and it will provide you constant real-time updates to keep your FHA loan application moving.

Best Perk: Speedy applications

Visit Quicken Loans


Rocket Mortgage

  • Entire application is done online
  • Quick and responsive service
  • Backed by Quicken Loans

As mentioned above, Rocket Mortgage is Quicken Loans’ 100% online solution. To obtain an estimated FHA loan rate, simply create an account, and then spend a few minutes entering details about yourself, the area you’d like to purchase, your estimated purchase price, and a few other things of relevance to your application.

Whether you’re applying for a conventional loan or an FHA loan, Rocket’s automated platform cuts down on much of the hassle and time it takes to share your full credit and financial information, which is all required in order to get a personalized quote.

After submitting your information, you’ll receive a quote in a matter of minutes. You can change the monthly payments until you’re happy with the terms. Once you’re happy, just submit your approval request, and the Rocket Mortgage team will be in touch with you shortly through your online account. Everything is done online, including filing paperwork and e-signing when you’re done.

Best Perk: Automated online platform

Visit Rocket Mortgage


First Internet Bank

  • Complete entire process online
  • Closure within 40 days
  • All rates advertised on home page

First Internet Bank is another one of the lenders that has abandoned traditional in-person applications in favour of an all-online solution. It offers a large selection of home loan, personal loan, and business loans, including FHA insured loans. Unlike many other lenders, it advertises its current rates on its home page; at time of writing, it was offering a 30-year fixed rate FHA loan at 4.25% interest, or 5.269% APR.

FIB will ask you to register an account and enter a few basic details before proceeding with your application. Although some people might find this off-putting, the good news is your information will be saved and you won’t have to enter it again.

FIB’s website has an extensive FAQ section, and customer support can be reached for any further questions by telephone (from 7am – 9pm weekdays and 9am – 3pm ET Saturdays, ET).

Best Perk: Large selection of lender

Visit First Internet Bank



  • Offers additional FHA loan for homes needing repairs
  • Responsive customer service and real-time updates throughout application
  • Extensive educational resources on website, including information on FHA loans

In addition to standard FHA loans, CrossCountry Mortgage offers 2 types of FHA 203(k) home loans: these allow borrowers to buy a home and finance qualifying improvements or repairs. CrossCountry makes this loan available in 2 forms: Streamline, allowing the borrower to finance up to $35,000 in renovations, though only certain types of repairs are eligible; Standard, allowing the borrower to finance a minimum of $5,000 in repairs with no maximum, although all repairs must be supported by the property appraisal.

Eligible non-structural repairs include: roofs, gutters, and downspouts; existing HVAC systems, plumbing and electrical systems, flooring and carpeting, interior and exterior paint, appliances (purchase and installation), accessibility improvements, exterior decks, patios and porches, basement finishing (non-structural), basement waterproofing, weatherization upgrades, window and door replacements, wall residing, septic and well systems.

CrossCountry’s FHA 203(k) is particularly useful, given that under the terms of a regular FHA loan, an FHA-approved appraiser must conduct an appraisal to ensure the property meets certain minimum standards. If a home is deemed to not be up to standard and the seller doesn’t agree to make the required repairs, the borrower must pay for the repairs at closing. Under CrossCountry’s FHA 203(k) loans, the additional costs of appraisers, consultants, contractors, and inspectors are added to the terms of the loan.

Best Perk: Offers 203(k) FHA loans

Visit CrossCountry Mortgage


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