To identify the best lenders for FHA loans, Bankrate analyzed Home Mortgage Disclosure Act (HMDA) data to determine the lender’s mortgage volume consisting of FHA loans in 2024, the most recent year for which data is available. At least 10% of the lender’s mortgages must be FHA loans. To qualify, lenders must report HMDA data directly and not through their parent company.
Next, we considered each lender’s Bankrate score. Bankrate surveyed 75 lenders across the country and scored each based on self-reported data and surveys by Bankrate staff. We assigned scores based on lender affordability, availability, and borrower experience, giving each category equal weight. Lenders with a Bank Rate Score of 4.5 out of 5 or higher are displayed on this page.
To earn the best score from Bankrate, lenders must offer mortgage rates that are lower than Bankrate’s tracking average, and they typically also offer loan options with low down payments and assistance for first-time homebuyers. Additionally, lenders are typically licensed in more than 30 U.S. states, offer conventional and government-backed loans, and typically offer at least one product to borrowers with credit scores of 620 or lower. Finally, our top-scoring lenders tend to make it easy for borrowers to compare rates and manage much of the loan process online, and offer multiple options for customer support and generous rate lock-in periods. Bankrate ratings are independent and not influenced by lender affiliation or advertising relationships. Learn more about how Bankrate scores are determined.
Some lenders may be listed as honorable mentions despite earning a Bankrate score of 4.5 or higher due to eligibility restrictions or limited state availability (15 states or less).