10 Best Mortgage Lenders of 2025 - Compare, Costs & Reviews

9.6

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34,417ReviewsTrustpilot

Find a simple mortgage that works for you

Unique support for first-time homebuyers

Fast, guided and simplified online process

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Start with certainty, close with confidence

Unique support for first-time homebuyers

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9.5

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20,021ReviewsTrustpilot

Cutting - edge online marketplace

Cutting - Edge online marketplace

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Plans for first time home buyers

Home buying with as little as 1% down

100% online experience

Get rates from our providers. Lenders 100% online

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9.6

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13,427ReviewsTrustpilot

Low rates: quick quote & approval

Get quotes and pre-qualify quickly

Pre-approval letter with rate lock protection

Low rates: quick quote & approval

Find your top home loan option with industry-leading technology

Pre-approval letter with rate lock protection

Over $100 billion funded. 21 years in business

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9.8

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10,576ReviewsTrustpilot

Only for active military and veterans

Veterans United Home Loans

Quick pre-approval with 24/7 access

Only for active military and veterans

100% financing for qualified veterans

4.8/5 average rating, 330,000+ reviews

Buy with 0% down when you qualify for a VA home loan

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Active Military & Veterans

For FICO 620-719

FICO 620-719

9.6

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727ReviewsTrustpilot

FHA loans at 3.5% down

New American Funding

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“A” BBB rating with 357k+ positive reviews

Perfect for first-time home buyers

FHA Loans at 3.5% Down

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Does cash-out refinance suit you?

9.5

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20,021ReviewsTrustpilot

Unlock cash from within your home

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Powerful loan refinancing solutions

Real-time updates on loan process

100% online experience

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Best for 580-680 FICO

9.6

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727ReviewsTrustpilot

"A" BBB rating, 298K+ positive reviews

New American Funding

Limited time - no appraisal fee for cash-out

100% online refinance application

Take advantage of no appraisal fee for cash-out refi & HELOC

Pay off debt, home improvements and more

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FHA Mortgage Loans: The Guide To Homeownership

An FHA home loan increases mortgage accessibility by providing flexible credit requirements, low closing costs, and minimal down payment options. Supported by the Federal Housing Administration, these government-backed loans enable banks to lend to buyers who might not otherwise qualify.

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Unlike a traditional loan, an FHA home loan involves three parties: the borrower, and the lender. and the Federal Housing Federal Housing Administration (FHA). The FHA’s involvement offers security for both parties, lowering the lender’s risk and aiding the borrower in obtaining loan approval.

Pros

Minimal credit score prerequisites
Reduced down payment options
Increased allowable debt-to-income ratio

Cons

Mandatory mortgage insurance payments
Certain sellers favor buyers with conventional financing offers
FHA loan limits impact your home purchase

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What are FHA Loans?

FHA home loans offer a pathway to homeownership for borrowers with poor credit, requiring a down payment of 10% or less. Active and former members of the Military, National Guard, and Reserves with poor credit or insufficient funds can apply for a VA loan. For those unable to secure a conventional mortgage, an FHA loan is often the best option for entering the housing market. These loans are particularly popular among first-time homebuyers, with 82% of first-time borrowers utilizing an FHA loan in 2017.

Eligibility

Individuals eligible for an FHA loan include those who:

Have a minimum credit score of 580, qualifying for a 3.5% down payment, or have a credit score between 500-579, qualifying for a 10% down payment.
Maintain a debt-to-income ratio of less than 43%.
Intend to purchase a house as their primary residence.
Possess stable income and can provide proof of employment.
Are capable of paying monthly Private Mortgage Insurance (PMI).

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How Does it Work?

Under Federal Housing Administration rules, lenders can offer two tiers of FHA loans:

Credit Score 580-619: Home buyers with a credit score in this range can qualify for an FHA loan with a down payment as low as 3.5%.
Credit Score 500-579: Home buyers with a credit score in this range can qualify for an FHA loan, but they must provide a down payment of 10%.

All borrowers must pay monthly Private Mortgage Insurance (PMI) until they have paid off at least 20% of the value of their home. PMI includes an upfront payment of 1.75% of the loan amount, in addition to an annual premium that ranges from 0.45% to 0.85%, depending on various factors.

There is a maximum loan amount set for each region based on the area’s median home prices. In 2025, the maximum loan amount is $822,375 in the highest-cost areas, primarily located in the Los Angeles, San Francisco, New York, and Washington, D.C. metro areas. Conversely, the maximum loan amount in the lowest-cost areas is $356,362.

Upon agreeing to the terms of the loan estimate, your FHA loan progresses to the underwriting stage, where the lender prepares for closing. During this process, the underwriter verifies your income to ensure you can repay the mortgage, and you may be required to submit additional supporting documents.

Unlike traditional mortgages, FHA loans typically do not demand you to demonstrate cash reserves. However, certain lenders might request you to exhibit two months’ worth of mortgage payments in savings, particularly if your credit score is below average.

When obtaining government loans for purchasing a house, you are typically required to undergo a home appraisal and inspection. FHA lenders may request that you address specific repairs before finalizing your mortgage approval.

After meeting all the FHA loan underwriting requirements, the lender will arrange your closing and furnish a disclosure document within three days of the closing date. This closing disclosure outlines the closing costs and other final loan terms you’ll be responsible for. Following a successful FHA mortgage closing, you’re all set to move into your new home.

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How to Find the Right Lender?

Kick off your search by exploring options from multiple FHA lenders. Rates and terms can differ significantly among mortgage providers, offering potential savings just by investing some time in finding better FHA loan rates. Consider utilizing services such as LendingTree, which can provide several FHA mortgage quotes within seconds, streamlining your comparison process.

When shopping for any type of loan, whether it’s an FHA loan, conventional home loan, or another type, it’s crucial to compare the interest rate and APR provided by various lenders. FHA mortgages typically offer fixed rates, meaning the rate remains constant throughout the entire term. Opting for a lower APR can result in substantial savings over a 15-year or 30-year period. Even a seemingly small difference of 0.05% or 0.10% between rates could translate to thousands or even tens of thousands of dollars over the lifespan of your loan.

Similar to traditional mortgages, FHA home loans can entail closing costs typically ranging from around 2% to 5% of the loan value. These costs can vary significantly among lenders. Therefore, in addition to comparing APRs, it’s always prudent to request an estimate of closing costs before making a decision.

Before finalizing any agreement, it’s crucial to research the lender thoroughly. Take the time to read up about them and check their reputation online or through direct communication. When comparing lenders, ensure they specialize in offering FHA mortgage loans, have predominantly positive online reviews, and maintain open lines of communication with their clients. These steps can help you make an informed decision before signing any documents.

How to Apply for a Loan?

Government mortgage loans, such as FHA loans, can be obtained from any lender authorized to provide the FHA program. Besides locating FHA lenders, which can be done conveniently through a loan platform like LendingTree, the FHA mortgage application process generally follows similar steps as for a conventional loan:

Verify your credit score. If it falls below 580, you can take measures to enhance your standing by reducing debt, ensuring timely bill payments, and contesting any inaccurate items on your credit report.

Fill out the FHA mortgage application. Most lenders will request your full legal name, a copy of your official photo ID or driver’s license, your Social Security number, information about your income, details regarding the amount and source of your down payment for the FHA loan, the address of the property you intend to purchase, the purchase price of the home, and specifics about your work history and current job.

Review the loan estimate. The lender is required to furnish this legal document within three days of your application. It outlines all the terms of your FHA mortgage, including the interest rate.

Conclusion

Every FHA lender maintains unique criteria for loan approval. Nevertheless, the majority of mortgage lenders mandate a debt-to-income ratio of no more than 43% and a credit score of at least 580, contingent on the mortgage type. Additionally, you need to demonstrate your down payment funds and present a work history spanning at least two years. Furthermore, the property must adhere to the lender’s appraisal standards.

Best FHA Mortgage Lenders April 2025

Achieve your dream home with the best rates

Bridge financial gaps to home ownership by taking an FHA loan. Discover reliable FHA lenders: competitive rates, flexible qualifications, superior service to suit your needs.

Best FHA Mortgage Lenders
April 2025

Bridge your financial gaps to home ownership.
Apply for an FHA loan from a reliable lender

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