LoanDepot, Pennymac and First Federal Bank earned the highest ratings in NerdWallet’s analysis this month.
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Which mortgage company should I go with?
FHA loans follow the same government rules from the Federal Housing Administration, but FHA approved lenders can be pretty different from each other. Some lenders stand out for lower rates or more loan options. Others may be a better fit if your credit or finances are a little less straightforward.
To make this list, we put lenders through a detailed review. We looked at:
Rates and fees that impact the cost of the loan.
FHA loan experience.
Variety of loan options.
How easy it is to apply and ask questions along the way.
LoanDepot captures a significant share of the FHA market with its competitively low combination of FHA rates and fees. Another plus: In addition to the standard FHA offerings, LoanDepot offers less common FHA loan types like energy-efficient mortgages.
Real Genius is a smart pick for a do-it-yourself online quote, with a wide variety of FHA loan products on offer. We’re impressed with its detailed, “no fine print” approach and options to sort and customize APR and fees.
What we like
Easy and transparent online rate quote tool.
Offers a strong variety of FHA loan types for purchase and refinance.
Closes loans in an average of 30 days (faster than industry average).
What we don't like
Federal data isn’t available for us to objectively compare this lender with others.
LoanDepot, one of the country’s largest mortgage lenders, offers a wide range of FHA mortgages, including the harder-to-find FHA 203(k) renovation loan.
What we like
FHA loans make up a large share of LoanDepot's total home loans.
Major FHA lender, by loan volume.
Offers a strong variety of FHA loan types for purchase and refinance.
Rocket Mortgage was the largest lender, by volume, for FHA loans in 2025. Rocket makes FHA loans accessible to a range of financial profiles, though the lender's combination of rates and fees leaves us unimpressed.
What we like
Major FHA lender, by loan volume.
Offers down payment and closing cost assistance.
Borrowers can apply via mobile app.
What we don't like
Does not offer the best combination of rates and fees.
PenFed Credit Union is a major FHA lender, with low average FHA rates. Getting a custom rate requires sharing contact information, and membership is mandatory — though anyone can join.
What we like
Big FHA lender, by loan volume.
Offers low FHA mortgage rates compared with other lenders.
Offers fully-underwritten preapproval with the option of a 60-day rate lock.
What we don't like
FHA loans represent a small share of total home lending for PenFed.
NewRez makes FHA loans available to a wide range of financial profiles and locations, with a closing time that's faster than average — though you'll need to get in touch for a custom rate quote.
What we like
FHA loans are especially accessible.
Offers a variety of FHA loan options.
Average reported time to close is faster than average (25 days).
What we don't like
Doesn't post mortgage rates online.
Combined FHA rates and fees aren't very impressive.
Our team of mortgage experts follows an objective, consumer-first methodology to assess FHA lenders and pick the best.
40
Lenders reviewed
We review 40 lenders, including major banks, credit unions, and online lenders operating across multiple states.
12
Categories assessed
Each lender is evaluated across 12 weighted categories covering FHA share of business, overall share of the FHA loan market, rates and fees, product accessibility, types of FHA loans offered, rate transparency and customer experience.
11,000+ 11k+
Data points analyzed
Our team tracks and reassesses thousands of data points annually for reviewed lenders, ensuring up-to-date, accurate comparisons across multiple loan types.
Star rating categories
We evaluate the following categories and carefully weigh how each factor impacts your experience.
For inclusion on this roundup, lenders must achieve a high rating for FHA loans.
NerdWallet rates FHA loan lenders based on what matters most to eligible borrowers: FHA loan rates and fees, the variety of FHA loan options, how much of a lender’s business is dedicated to FHA loans, the lender’s FHA loan market share, product accessibility, customer experience and rate transparency.
We review more than 40 lenders and score FHA loan lenders using a weighted system that prioritizes affordability and experience with FHA products. Lenders earn higher scores for offering lower borrowing costs, a wider range of loan options, strong participation in the FHA lending market, broad availability and clear, accessible rate information, along with a smooth borrowing experience from application through closing.
We use a mix of lender-provided information, publicly available data and our own analysis to evaluate each lender. Recent regulatory actions may affect a lender’s score.
🏆 LoanDepot is NerdWallet's Best FHA Lender of 2026
LoanDepot was NerdWallet's pick for the best mortgage lender for FHA loans in 2026. Here's more about how we made our decisions and why LoanDepot came out on top.
Behind our picks: Why each lender earned a spot on this list
I’ve been reviewing FHA loans for NerdWallet for about four years. To me, the best FHA lenders go out of their way to provide choice, flexibility and great service — IRL, online or both.
Here’s what to know about each of the picks that made our list.
LoanDepot: A big FHA menu for buyers building their credit
LoanDepot hits a lot of the right notes for FHA borrowers: lower-than-average APRs, a big FHA presence and a 520 minimum credit score. You can choose from standard purchase loans, 203(k) renovation loans and energy-efficient mortgages. Its AccessZERO and AccessONE programs may also help with your down payment. No FHA Title 1 or graduated-payment loans, though.
Pennymac: A solid FHA choice for buying or refinancing
Pennymac stands out across the board, with lower-than-average APRs, a large FHA footprint and a strong share of its business in FHA loans. It’s a particularly good fit for refinance options. You’ll find rate-and-term, streamline and cash-out refis. The gap? No FHA 203(k) renovation loans, but considering that’s a pretty niche product, we’re still impressed with its loan lineup.
First Federal: Plenty of FHA options and a quick closing time
First Federal’s FHA lineup is seriously stacked: purchase, renovation, energy-efficient, refinance and reverse mortgage options are all on the menu. Its 27-day average closing time is shorter than typical, too. It doesn’t offer FHA Title 1 or graduated-payment loans, but most borrowers probably won’t miss those options.
U.S. Bank: A steady FHA option with a little extra help
U.S. Bank earns above-average marks for affordable APRs, FHA market share and serving a broad range of borrowers. You’ll find the FHA basics, including purchase loans and several refinance options. Some first-time buyers may also qualify for down payment assistance through its American Dream Mortgage program. Fixer-upper fans, take note: There’s no FHA 203(k) or Title 1 loan here.
PenFed: Competitive rates, if you have solid credit
PenFed could be worth a look if you have a 620+ credit score and want a straightforward FHA purchase or refinance. It earns above-average marks for APRs and offers rate-and-term, streamline and cash-out refis. Buying a fixer-upper? Keep looking — PenFed doesn’t offer FHA 203(k) renovation loans.
Wells Fargo: Doing less mortgage lending, but still showing up for FHA borrowers
Wells Fargo has shrunk its mortgage business in the past few years, but it remains a well-rounded FHA lender. The perks: lower-than-average APRs, a strong range of loan options and broad borrower reach. You can refinance with an FHA rate-and-term, streamline or cash-out refi. The lender offers down payment assistance, but you’ll need a 620 credit score to qualify for FHA loans.
SoFi: For the ‘please let me do this online’ crowd
I’m picky about which apps get storage space on my phone, but SoFi earned its spot. In fact, I used it for my own mortgage preapproval, and my experience aligns with our research — the app makes it easy to handle much of the mortgage process from your phone. SoFi also has lower-than-average APRs and broad borrower reach. The FHA menu is basic, though: No 203(k), energy-efficient, Title 1 or reverse mortgage loans.
Rocket Mortgage: An FHA heavyweight, with another low-down-payment route
Rocket is a major FHA lender with broad borrower reach and an average closing time of about 28 days. It offers FHA purchase, rate-and-term, streamline and cash-out refis. FHA APRs are less competitive, though, and there’s no 203(k) loan. If you qualify, its ONE+ conventional loan is worth comparing as an alternative to FHA loans: Put 1% down, and Rocket adds 2% — but you’ll need a 620 score and income at or below 80% of your area’s median.
Real Genius: The kind of rate tool I wish every lender had
I’ve tested a lot of online mortgage rate tools, and Real Genius’ is one of my favorites. You can see how a different credit score could affect your APR and monthly payment — useful details if you’re deciding whether to apply now or give your credit more time. In addition to the standard FHA fare, it also offers FHA 203(k) renovation loans and streamline refis.
AmeriSave: A 500 credit score minimum makes it one to know
AmeriSave accepts FHA credit scores as low as 500, making it worth a look if your credit is a work in progress. It has an above-average FHA presence, broad borrower reach and a solid set of purchase and refinance options. No 203(k) or reverse mortgages, though.
Newrez: A flexible FHA pick for lower-credit buyers
Newrez checks a lot of boxes for FHA borrowers. It accepts credit scores as low as 500, has competitive APRs and earns above-average marks across every category we review for FHA lenders. You’ll find standard purchase loans, 203(k) renovation loans and FHA Title 1 financing. Its speedy 25-day average closing time is a nice perk, too.
Guild: A big FHA lender when your credit isn’t perfect
Guild has a sizable FHA market share and an above-average share of FHA loans in its business, so this isn’t new territory for them. It accepts FHA credit scores as low as 540 and offers 203(k) renovation and energy-efficient mortgages. Its APRs and borrower reach are less competitive, however, and it doesn’t offer FHA Title 1 loans.
How to qualify for an FHA loan
Each lender on our list has its own rules for who can qualify. You’ll need to share details about your income, job and debts. Many of our picks let you apply for mortgage preapproval online, so you can get a clearer idea of what you might be able to borrow.
Here are the basics you’ll generally need:
A credit score of at least 580 to put down as little as 3.5%. With a score of 500 to 579, you’ll need at least 10% down. Some lenders require a higher score.
A debt-to-income ratio of about 50% or less. That’s the share of your monthly income, before taxes, that goes toward debt payments.
FHA loans can make it easier to buy a home with a lower credit score. But you’ll also want to budget for these costs:
Closing costs. Expect FHA closing costs of about 2% to 6% of your loan amount.
Mortgage insurance. You’ll pay forFHA mortgage insurancethrough an upfront fee and monthly payments. If you put down less than 10%, those monthly charges usually last as long as you have the loan.
There’s also a cap on how much you can borrow with an FHA loan. It depends on where you’re buying. You can look up the limit in your county on the Department of Housing and Urban Development’s website.
To find the lowest interest rate and save money on your loan, try to get preapproved by at least three lenders. You can start with the FHA-qualified lenders we list here. If you're looking for an FHA lender near you, check out the U.S. Department of Housing and Urban Development's searchable list of approved FHA lenders.
Jesse Haddad |Loan Officer at Next Door Lending, a subsidiary of NerdWallet
“People think that just because they have bad credit they can't buy a home, it's not true. You can get approved for FHA loans under 580 and still buy the house.”
Should I get an FHA loan as a first-time home buyer?
Any qualified buyer can get an FHA loan, not just first-time home buyers. But if this is your first go at homebuying, lower minimum credit score and down payment requirements make FHA loans a good fit — especially if you have shaky credit or a tight budget.
To apply, you'll work with a Federal Housing Administration-approved lender. Many banks, credit unions and mortgage lenders offer FHA loans.
How do I get preapproved for an FHA loan?
FHA loan preapproval is similar to other mortgage types, though you have to work with an FHA-approved lender. To get preapproved, you'll need to provide financial information like your employment history, bank statements and any current loan payments. Applying for mortgage preapproval with multiple lenders lets you compare interest rates, fees and loan terms to find the best deal.
How do I choose an FHA lender?
FHA mortgage rates and fees vary by lender, so it's a good idea to compare at least three FHA lenders to find the best deal. While the FHA sets minimum qualifications, lenders can require higher credit scores or lower debt-to-income ratios. Using an FHA mortgage calculator can help you estimate your monthly payments.
