Best FHA Loan Lenders of February 2026

For prospective homebuyers without a sizeable down payment or great credit, this may be the mortgage option for you.

Backed by the Federal Housing Administration, FHA loans only require 3.5% down for borrowers with a 580 FICO Score or 10% down with a 500 credit score.

Like conventional mortgages, FHA loans are issued by commercial banks, credit unions, fintech companies and other private lenders. But, because they’re government-sponsored, lenders tend to be more forgiving of past bankruptcies or foreclosures and are willing to accept higher debt-to-income ratios.

CNBC Select has chosen the best lenders for FHA loans, based on rates, terms, availability, customer service, and other factors. (See our methodology for more information.)

Who’s this for? Guild Mortgage‘s Zero Down loan allows eligible borrowers to qualify for an FHA loan with no down payment, compared to the 3.5% most lenders require.

Standout benefits: Guild’s rate-lock program lets borrowers freeze their FHA loan rate for 120 days at no extra cost. Guild also considers non-traditional credit sources, which can be helpful to homebuyers with a thin credit history.

Who’s this for? Pennymac‘s FHA loan rates are lower than the industry average.

Standout benefits: With the BuyerReady Certification preapproval process, borrowers can get $1,000 toward closing costs. Using a real estate agent in Pennymac’s Home Connect network can get you up to $9,500 back after closing.

Who’s this for? Fairway‘s Community Access program provides up to $7,500 toward a down payment for first-time homebuyers in 21 cities. Recipients also receive a one-year home warranty credit.

Standout benefits: Fairway’s Advantage preapproval program allows buyers to submit an underwritten approval letter with their bid, demonstrating they’re good candidates and serious about buying. If financing with Advantage falls through, Fairway will either buy the house for cash or give the seller $10,000 when the property is relisted.

Who’s this for? CrossCountry Mortgage‘s FastTrack Credit Approval program allows qualified buyers to get into a new home in as few as 10 days after signing a purchase agreement, compared to an industry average of about 42 days. Non-Fast Track loans close in an average of 21 days, according to CrossCountry, which is still much faster than average.

Standout benefits: The Smart Start program includes up to $4,000 in down payment assistance to first-time homebuyers who meet income requirements.

Who’s this for? Chase Bank is a great choice if you like face-to-face contact: It has more than 4,700 branches across 48 states and Washington, D.C, the most of any bank.

Standout benefits: Chase offers a $5,000 on-time closing guarantee. The Chase Homebuyer Grant lets eligible borrowers receive up to $7,500 for closing costs or a down payment.

Who’s this for? Rate‘s online mortgage process is top for borrowers who prioritize convenience. Its streamlined process includes hybrid closings and notarizing of closing documents via video.

Standout benefits: Same-day approval is available and closing can take as little as 10 days. The OneDown Program allows eligible borrowers to put as little as 1% down, with Rate providing the other 2% as well as a $1,000 closing cost credit.

Who’s this for? New American Funding is devoting billions of dollars to new housing financing for Latino and Black households. Its Black Impact and Latino Focus initiatives offer educational resources and partnerships to increase homeownership within communities of color.

Standout benefits: With an NAF I Can mortgage, borrowers can set terms from 8 to 30 years. In addition, if NAF fails to close on your mortgage within 14 business days, you may be eligible for a $250 lender credit to apply toward closing costs.

Who’s this for? Rocket Mortgage was named No. 1 in mortgage servicing by J.D. Power in 2025, the 11th time it received the top ranking. The online-only lender also earned an A+ from the Better Business Bureau and 4.6 out of five stars on Trustpilot.

Standout benefits: The ONE+ loan from Rocket Mortgage allows borrowers who meet income and credit requirements to put just 1% down. Rocket will provide an additional 2%, bringing your starting equity to 3%.

An FHA loan is a mortgage backed by the Federal Housing Administration, a division of the U.S. Department of Housing and Urban Development. Since they’re less risky for lenders, FHA loans typically have lower credit score and down payment requirements.

There are FHA loans with fixed and variable rates, as well as specialty loans like the FHA 203(k), which can be used for home renovations. You may also be able to take advantage of streamlined FHA refinancing, saving you a credit check and home appraisal.

FHA loans don’t require private mortgage insurance, but borrowers do have to get mortgage insurance premiums (MIP), which are slightly different: You’ll pay 1.75% of the loan balance up front and then have a monthly MIP, typically between 0.15% and 0.75% of the principal.

FHA mortgages can only be used to buy a primary residence. The property can have up to four units, as long as you live in one.

• Loan limit: $541,287 ($1,249,125 to 1,873,687 in high-cost areas)
• Credit score: 500 FICO score with 10% down or 580 with 3.5% down
• Income requirements: None
• Debt-to-income ratio: Typically 43%

Individual lenders may set additional guidelines.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every mortgage review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of mortgage products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

CNBC Select analyzed dozens of banks, credit unions and nonbank lenders to determine which are best for FHA loans.

We focused on the following features:

FHA loan availability and market share: We favored lenders that were top FHA loan providers or who had FHA-specific loan products.

Closing times: We gave more weight to lenders with shorter-than-average closing times or guaranteed an on-time closing.

Fees: The mortgage process includes origination, application and underwriting fees, as well as charges for appraisals, title insurance, attorneys and other closing costs. When possible, we noted if a lender had lower fees, discounts or waived certain fees.

Application process: We considered whether lenders offered an online preapproval and application process and if there were physical branches for an in-person experience. 

Customer service: We gave more weight to lenders that scored highly on J.D. Power’s mortgage origination and servicing surveys. We also noted if they had robust customer service phone hours and a website with an online chat feature and educational resources.

We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.

Based on that criteria, our picks for the best FHA mortgage lenders are:

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