9 Best FHA 203(k) Mortgage Lenders of April 2025
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Home buyers can use an FHA 203(k) loan to purchase and renovate a house with the same mortgage — or, in the case of an existing home renovation, you can refinance and pay off home improvements within your monthly mortgage payment.
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Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
9 Best FHA 203(k) Mortgage Lenders of April 2025
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Lender ▾ ▾ | NerdWallet Rating ▾ ▾ | Min. credit score ▾ ▾ | Min. down payment ▾ ▾ | Learn more |
|---|---|---|---|---|
 New American Funding: NMLS#6606 Top 3 most visited 🏆 Learn more at New American Funding | 500 | 3.5% | Top 3 most visited 🏆 Learn more at New American Funding | |
 CrossCountry Mortgage: NMLS#3029 Compare More Lenders on NerdWallet | 500 | 3.5% | Compare More Lenders on NerdWallet | |
 Wintrust Mortgage: NMLS#449042 Compare More Lenders on NerdWallet | N/A | 3.5% | Compare More Lenders on NerdWallet | |
 Flagstar: NMLS#417490 Compare More Lenders on NerdWallet | 580 | 3.5% | Compare More Lenders on NerdWallet | |
 Guild Mortgage: NMLS#3274 Compare More Lenders on NerdWallet | 540 | 3.5% | Compare More Lenders on NerdWallet |
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Last updated on January 2, 2025
Frequently asked questions
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).
To use the HUD search tool, enter your search parameters — your state is probably the most important, since lenders are licensed by individual states — and click the "Rehabilitation" box at the bottom of the list, where it says "203(k) Rehabilitation Mortgage Insurance Program." If you're trying to get the scoop on a specific lender, you can just enter the company name at the top of the form, then click the "Rehabilitation" box at the bottom.
» MORE: Best FHA lenders
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, you may need to do more hunting to find a lender that will approve your 203(k).
All FHA loans, including the 203(k), allow you to use gift money or other forms of down payment assistance.
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.
Methodology
The star ratings on this page reflect each lender's rating for FHA products. Read more about how we determine those ratings.
The lenders on this page are chosen using this methodology:
NerdWallet reviewed more than 40 mortgage lenders, including the majority of the largest U.S. mortgage lenders by annual loan volume (measured among lenders with at least a 1% market share), lenders with significant online search volume and those that specialize in serving various audiences across the country. We rated them on criteria including rate transparency, loan types offered, ease of application and more.
Some of the providers are NerdWallet partners, but this did not influence our selections.
For inclusion on this roundup, lenders must score a 4 or above according to our FHA loan methodology and offer 203(k) loans.
NerdWallet solicits information from reviewed lenders on a recurring basis throughout the year. All lender-provided information is verified through lender websites and interviews. We also utilized 2023 HMDA data for origination volume, origination fee, average interest rate and share-of-product data.
NerdWallet's Best FHA 203(k) Mortgage Lenders of April 2025
- New American Funding: Best for highly rated mobile app
- CrossCountry Mortgage: Best for down payment assistance
- Wintrust Mortgage: Best for variety of government loans
- Flagstar: Best for FHA loans overall
- Guild Mortgage: Best for borrowers with nontraditional credit
- loanDepot: Best for variety of repayment terms
- Rate: Best for fast preapproval
- Movement Mortgage: Best for down payment assistance
- PrimeLending: Best for fixer-uppers overall
