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11 Best FHA 203(k) Mortgage Lenders of June 2026
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11 Best FHA 203(k) Mortgage Lenders of June 2026

Abby Badach Doyle
Taylor Getler
+1
Abby Badach Doyle
+2
Written by 

Abby Badach Doyle

,  Co-Written by 

Taylor Getler

,  Edited by 

Johanna Arnone

Written by 

Abby Badach Doyle

 and 
2 others
Last updated 05/22/2026
An FHA 203(k) loan lets you buy a home and fund renovations with the same mortgage. Homeowners could refinance and fold renovation costs into one monthly payment. Here are NerdWallet’s highest-rated FHA lenders that offer FHA 203(k) loans.
 

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How does an FHA 203(k) loan work?

There are two types of FHA 203(k) loans: the limited (or “streamline”) and the standard. They have different rules regarding renovation costs and how you can use the money, though "luxury" improvements like swimming pools or outdoor kitchens generally aren’t eligible for either.
Borrowers are also bound by FHA loan limits, which vary by location. For 2026, the loan limits are generally up to $541,287 in low-cost counties and $1,249,125 in high-cost counties for single-family residences.The FHA determines a property's value in two ways, accepting whichever number is lower. The first adds the cost of renovations to the original value (e.g., if a home is valued at $300,000 and the loan limit in your area is $541,287, renovations cannot exceed $241,287). The second way is to multiply the home’s value after renovations by 110%, which also cannot exceed the FHA loan limit. You can search for your county’s loan limit on HUD.gov.
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Best for flexible credit requirements

Cardinal - PURCHASE - FHA

NMLS#66247

NerdWallet rating

4.0

FHA
Min. credit score

580

Min. down payment

3.50%

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Our take on Cardinal - PURCHASE - FHA

The Nerdy headline

FHA loans made up a large portion of Cardinal's business in 2025, though combined average rates and fees are on the higher side.

What we like
  • FHA loans make up a large share of Cardinal's total home loans.
  • Offers FHA refinancing.
What we don't like
  • Combined average FHA rates and fees are on the high side.
  • No rates posted online.
Read our full review of Cardinal - PURCHASE - FHA

Best for rate shopping

Real Genius

NMLS#2389303

NerdWallet rating

4.5

FHA loans
Min. credit score

580

Min. down payment

3.50%

GET MY RATE

Our take on Real Genius

The Nerdy headline

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.
  • Not currently lending in U.S. territories.
Read our full review of Real Genius

Best for fast closing

First Federal Bank

NMLS#408902

NerdWallet rating

5.0

FHA loans
Min. credit score

580

Min. down payment

3.5%

GET MY RATE

Our take on First Federal Bank

The Nerdy headline

First Federal offers a range of FHA loans, including harder-to-find options. The lender also stands out for providing a strong customer experience.

What we like
  • Offers a variety of FHA loans, including renovation loans and Energy Efficient Mortgages.
  • FHA APRs tend to be competitive.
  • Scores well for its customer experience, such as having a mobile app with mortgage features.
What we don't like
  • Not among the biggest players in the FHA loan market.
  • You'll have to contact the lender to see personalized mortgage rates, though sample rates are posted online.
Read our full review of First Federal Bank

Best for FHA loan accessibility

Newrez

NMLS#3013

NerdWallet rating

4.5

FHA
Min. credit score

500

Min. down payment

3.50%

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Our take on Newrez

The Nerdy headline

NewRez makes FHA loans available to a wide range of financial profiles and locations, though the lender doesn't have a mobile app for mortgage borrowers.

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.
Read our full review of Newrez

Best for low combined FHA rates and fees

loanDepot

NMLS#174457

NerdWallet rating

5.0

FHA loans
Min. credit score

520

Min. down payment

3.5%

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Our take on loanDepot

The Nerdy headline

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.
What we don't like
  • No mortgage rates posted online.
  • Recent headlines have damaged consumer trust.
Read our full review of loanDepot

Best for FHA specialization

CrossCountry Mortgage

NMLS#3029

NerdWallet rating

4.0

FHA loans
Min. credit score

500

Min. down payment

3.5%

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Our take on CrossCountry Mortgage

The Nerdy headline

CrossCountry is a major FHA lender by loan volume, with options for a variety of FHA loan borrowers. FHA rates and fees may be higher than you'll find at other lenders.

What we like
  • Major FHA lender, by loan volume.
  • Offers a strong variety of FHA loan types for purchase and refinance.
What we don't like
  • Average FHA origination fees are on the high side.
  • Average FHA interest rates are higher than competitors.
Read our full review of CrossCountry Mortgage

Best for flexible credit requirements

PrimeLending

NMLS#13649

NerdWallet rating

4.5

FHA loans
Min. credit score

580

Min. down payment

3.5%

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Our take on PrimeLending

The Nerdy headline

PrimeLending is a big FHA lender with options for a variety of FHA loan borrowers, but FHA rates and fees may be less competitive than other lenders. May appeal to buyers who need help with closing costs.

What we like
  • Big FHA lender, by loan volume.
  • Offers a strong variety of FHA loan types for purchase and refinance.
What we don't like
  • Average FHA origination fees are on the high side.
  • FHA mortgage rates are on the high side.
Read our full review of PrimeLending

Best for FHA specialization

New American Funding

NMLS#6606

NerdWallet rating

4.0

FHA loans
Min. credit score

N/A

Min. down payment

0%

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Our take on New American Funding

The Nerdy headline

New American Funding is a major FHA lender, with a focus on this loan type, but its average FHA rates and fees are less competitive than some lenders.

What we like
  • FHA loans make up a large share of New American's total home loans.
  • Major FHA lender, by loan volume.
  • Offers a strong variety of FHA loan types for purchase and refinance.
What we don't like
  • FHA mortgage rates are on the high side.
  • Average FHA origination fees are on the high side.
  • Personalized mortgage rates are not available on the website without providing contact information.
Read our full review of New American Funding

Best for fast closing

Lower

NMLS#1124061

NerdWallet rating

4.0

FHA loans
Min. credit score

500

Min. down payment

3.5%

GET MY RATE

Our take on Lower

The Nerdy headline

Lower stands out for its focus on FHA loans and faster-than-average closing, though combined rates and fees are higher than competitors.

What we like
  • FHA loans make up a large portion of Lower's lending business.
  • Accepts borrowers with credit scores of 500 and higher.
  • Average reported time to close is faster than average (25 days).
What we don't like
  • Combined FHA rates and fees are on the higher side.
  • No mobile app for mortgage borrowers.
Read our full review of Lower

Best for FHA specialization

Guild Mortgage

NMLS#3274

NerdWallet rating

4.5

FHA loans
Min. credit score

540

Min. down payment

3.5%

GET MY RATE

Our take on Guild Mortgage

The Nerdy headline

Guild is a major FHA lender by loan volume, with options for a variety of FHA loan borrowers, but rates aren't posted online.

What we like
  • Major FHA lender, by loan volume.
  • Offers a strong variety of FHA loan types for purchase and refinance.
What we don't like
  • Mortgage rates aren’t posted online.
  • Combined FHA rates and fees aren't very impressive.
Read our full review of Guild Mortgage

Best for rate shopping

Rate

NMLS#2611

NerdWallet rating

4.0

FHA loans
Min. credit score

500

Min. down payment

3.5%

GET MY RATE

Our take on Rate

The Nerdy headline

Rate is a major FHA lender with options for a variety of FHA loan borrowers and a streamlined application process, but average FHA fees are on the high side.

What we like
  • Major FHA lender, by loan volume.
  • Offers a strong variety of FHA loan types for purchase and refinance.
What we don't like
  • Average FHA origination fees are on the high side.
  • FHA loans represent a somewhat small share of total home lending for Rate.
Read our full review of Rate

How we chose the best FHA 203(k) loan lenders

Our team of mortgage experts follows an objective, consumer-first methodology to assess FHA 203(k) loan 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+

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 overall and offer FHA 203(k) 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.

Types of FHA 203(k) loans explained

As we mentioned, there are two kinds of FHA 203(k) loans: limited and standard. The limited option is for more minor projects, while the standard option can be used for extensive renovations and repairs.

Limited (or streamline) option

  • Home improvement costs can’t exceed $75,000.
  • Repairs must be non-structural. 
  • Appropriate use cases would include cosmetic upgrades, like carpet replacement or upgraded kitchen appliances. 

Standard mortgage option

  • Intended for buying a home that needs major work to be liveable. Renovation costs must be at least $5,000.The total value of the property after renovations can’t exceed the FHA mortgage limit in your area. 
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Frequently asked questions

  • How do you find an FHA 203(k) lender?

    In addition to the lenders we've highlighted above, you can also use the Department of Housing and Urban Development's FHA lender search page to find FHA 203(k) loan lenders. It's a helpful tool, because while FHA 203(k) rehab loans are widely available, not every FHA-approved lender offers the 203(k).
    » MORE: Best FHA lenders

  • Do you need a down payment for a 203(k) loan?

    FHA 203(k) loans have the same down payment requirements as standard FHA loans. If your credit score is 580 or above, the FHA allows a down payment as low as 3.5%. For credit scores between 500 and 579, the required FHA down payment is 10%.
    Although the FHA has low credit score requirements, individual lenders may choose to set higher minimums. If your credit score falls below 620 or so, check out our related list of FHA mortgage loans for bad credit.
    All FHA loans, including the 203(k), allow you to use gift money or other forms of down payment assistance.
    » MORE: Strategies for building up your down payment

  • How do you qualify for a 203(k) rehab loan?

    To qualify for an FHA 203(k) loan, you'll have to meet the same FHA requirements you would for a standard loan. These include the credit score and down payment minimums, as well as having a debt-to-income ratio of no more than 43%. In some cases a slightly higher DTI may be allowed.
    The property you're buying or refinancing must be your primary residence. Though the home does not have to be up to the FHA's housing standards — after all, you're fixing it up — the property should be able to pass an FHA appraisal after the repairs are completed.
    » MORE: Compare the 203(k) rehab loan to the HomeStyle loan