Top FHA Lenders in 2017

While buying a home is an exciting milestone, the financial implications of becoming a homeowner can be downright scary. Not only do you need to worry about finding the right home, but you have to save up a down payment, qualify for a mortgage, and secure a monthly payment you can afford.

Fortunately, FHA loans have been simplifying the process for new homeowners since 1934. With an FHA loan, many families have been able to secure lower start-up costs and remove many barriers that are associated with purchasing a home. When you choose an FHA loan, your down payment may be as low as 3.5 percent of the purchase price of your home. Better yet, you can use this type of loan for a single family home, a mobile home, or a property with up to four units.

If you’re interested in getting an FHA loan, you will want to make sure that you have a lender that knows how to handle the special requirements for this sort of mortgage. You want someone that has experience with the process and that knows how to handle any unique situation that might arise.

To help, we have analyzed the top FHA lenders (sorted in no particular order) by loan volume and have provided a short breakdown of their companies and customer experiences.

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loanDepot

As one of the country’s fastest-growing lenders, loanDepot offers an array of loan products aimed at nearly every type of consumer. Since its founding in 2010, the company has funded more than $100 billion dollars in home loans, business loans, and personal loans. The company uses emerging financial technology to connect borrowers with the right loan for their needs, then leans on dynamic product delivery to help their customers ease into their new responsibilities.

Customers who have used loanDepot consistently report enjoying a stress-free loan process and great customer service. loanDepot customers also report saving money with competitive interest rates and affordable fees. In fact, the company received all “good” ratings for their interest rates, fees and closing costs, customer service, and responsiveness among all 1,490 customer reviews.

Mortgage Lenders of America

Mortgage Lenders of America offers a myriad of home loan options, including VA loans, FHA loans, USDA loans, and conventional loans. The company has funded over 25,000 loans in the U.S. since 2000, and is consistently recognized for excellence by third party rating firms. Mortgage Lenders of America also offers tools that can help you figure out how much house you can afford, get pre-approved, and eliminate surprises that can derail your home purchase.

Customers who have used Mortgage Lenders of America repeatedly note the company’s professionalism and responsiveness when dealing with consumer requests. Customer reviews of the company include plenty of praise, including headlines like “five stars,” “very professional,” “no stress,” and “patient, kind, and understanding.”

If you’re on the fence about an FHA loan, make sure to check with Mortgage Lenders of America to see all your options. There’s no obligation to move forward with a loan, and getting pre-approved is free.

North America Savings Bank (NASB)

North America Savings Bank offers retail banking, residential lending, commercial lending, and other banking solutions for individuals and businesses. Affordable loan products available include conventional mortgages, FHA loans, and VA loans. As an FHA-approved lender, NASB offers the best FHA loans to fit any budget.

North America Savings Bank has plenty of rave reviews from past and current customers. Consumers who have used NASB for FHA loans or other loan products report being completely satisfied, enjoying excellent customer service, and leaving the loan process with the best outcome possible.

Reliance First Capital

Offering award-winning customer service and a dynamic portfolio of loan programs, Reliance First Capital is the source for FHA mortgages. Whether you’re looking to purchase a home or refinance a current mortgage, the company’s stellar reputation shines through providing great rates, service, options and benefits. Contact Reliance First Capital today and learn about their FHA programs featuring low down payments and low credit score qualifications and you’ll quickly know why customer’s RELY on Reliance First Capital.

Customers who have used Reliance First Capital rave about their experiences, from the company’s stellar customer service to their great communication and low-pressure sales technique. With Reliance First Capital, customers report an experience that is free from hassle and stress.

Cardinal Financial

Every aspect of Cardinal Financial is focused on making the complicated process of obtaining a mortgage simpler. If you are looking for a flexible mortgage that fits your income, credit, and down payment needs, Cardinal Financial can guide you through the process of getting a loan backed by the Federal Housing Administration (FHA). Their organized and streamlined approach to FHA loans ensures that the entire loan process stays in house. You’ll experience the ease and convenience of working with the same loan originator and processor throughout the entire process, which means quick turnarounds and less confusion.

From the great rates to the consistent communication, customers are thoroughly impressed with the streamlined loan process offered by Cardinal Financial. The company’s customer reviews consistently remark on their straightforward instructions and their loan specialists’ willingness to go the extra mile to answer even the smallest of questions.

Home Point Financial

No matter what type of home loan you’re looking for, Home Point Financial offers a competitive product with advantageous terms. With their FHA loans specifically, customers can qualify for home loans with affordable interest rates and low down payments.

Whether you want to purchase a new home with an FHA loan or refinance the home you have, make sure to check with Home Point Financial for a free quote.

According to customer reviews, Home Point Financial is “very responsive” as well as professional. Customers report feeling the process was stress-free and seamless, mostly due to the company’s knowledgeable, detail-oriented, and helpful loan experts.

J.G. Wentworth Home Lending, LLC

J.G. Wentworth is all about helping their customers find solutions that fit their needs by focusing on providing great customer service. They have been originating FHA loans over the past 15 years by helping their customers make knowledgeable decisions about the home buying process. Whether you’re a first-time home buyer or are looking to get into a home with a low down payment or looking to refinance, J.G. Wentworth offers a generous home loan experience to deliver great financing on an FHA mortgage.

More than half of the customers who have used J.G. Wentworth claim their interaction with the company was worthy of 5 stars. With reviews exclaiming, “best mortgage experience ever!” and “exceptional service on every level!”, customers believe that J.G. Wentworth strives to provide consumers with a great financial experience.

Final Thoughts

Shopping for an FHA loan isn’t rocket science, but that doesn’t mean all lenders are created equal. Before you take out any type of loan, make sure you’re dealing with a reputable lender who has your best interests in mind. By focusing on lenders that have a reputation for excellence, you can ensure a smoother, less stressful home-buying experience.

And when in doubt, make sure to read plenty of reviews. While a lender can portray any story they want through advertising, consumer reviews tend to give the full picture. While a handful of good reviews may not be enough to sway you, a lender with scores of positive feedback may be worth considering.