Top 5 FHA Lenders in Florida 2019
If you’re looking for the best mortgage loan to buy a home in Florida, you might have your hands full. Right now, the Sunshine State is home to almost 21 million people, and with mortgage rates as low as they are now, the current housing market is pretty hot. Home values have increased nearly 8 percent between December of 2017 through 2018, and is forecasted to rise another 4.9% through 2019.
With home prices on the rise, it’s a wise move for repeat and first time home buyers out on the market to do everything they can to keep their housing costs down. This starts with getting a great mortgage. And, since FHA loans offer low interest rates, down payments as little as 3.5%, and an ultra-low 580 credit score requirement, they’re often some of the most desirable loans for home buyers like you.
In this article, we’ll review the best FHA approved lenders in Florida and how they can help guide you on your quest to home ownership.
2019 Florida FHA Lender Best Picks
Best for First Time Home Buyers: Fairway Independent Mortgage Corporation
Best Online Experience: Guaranteed Rate
Best Local Lender: Eagle Home Mortgage
Best Face-to-Face Experience: Caliber Home Loans
Best Overall Performance: Quicken Loans/Rocket Mortgage
#1 Florida FHA Lender: Quicken Loans/Rocket Mortgage
Finding a mortgage online may have seemed sketchy at best a decade ago, but the amazing team over at quicken loans has truly set the standard for the online mortgage experience. In the State of Florida, Rocket Mortgage (a division of Quicken Loans) and Quicken Loans have made FHA financing as simple and straightforward as possible.
The online FHA loan process is highly geared towards a streamlined user experience. Progress on the status of an FHA loan application can be easily tracked online, and preapproval for an FHA loan can be completed in a matter of minutes.
The service even keeps applicants posted with any documentation they may have forgotten or still need to provide. The real icing on the cake comes from the support staff that can be reached by phone or through the website that is standing by to offer their advisory services and answer any questions a potential borrower may have.
#2 Florida FHA Lender: Fairway Independent Mortgage Corporation
A rapidly growing name in the national home finance industry, Fairway Independent Mortgage Corporation is one of the best options for FHA financing across the country, including the state of Florida. With branches all across the Sunshine State, It is relatively easy to find a Fairway location when its time to get a home loan. Beyond that, their customer service is well known to be top notch.
Fairway Independent Mortgage Corporation has stunning reviews from its client base over the years. One thing they seem to excel in is cutting down the closing costs that borrowers are expected to pay at the end of a mortgage transaction, as well as facilitation a faster closing.
Fairway may very well be the best option for first time home buyers on this list. Their attention to detail and completely transparent methodology is perfect for obtaining an FHA loan at a great rate in a stress-free environment.
#3 Florida FHA Lender: Caliber Home Loans
A relative newcomer to the home finance market, Caliber Home Loans truly hit the ground running -- at top speed. For a company that has only been around since 2013, Caliber has made quite a reputation for itself as one of the top FHA lenders in the region.
The Caliber team is often lauded for their knowledge and sincerity during the mortgage transactions that they conduct. Getting an FHA loan can be particularly stressful, but the loan officers at Caliber don’t leave any stone unturned when it comes to keeping their borrowers informed and making sure home buyers are in complete control of their home loan decisions.
Home buyers can count on concise, and rapid responses to any questions that may come up during the mortgage process. With their new app, the mortgage preapproval and application process has been made even easier! A stunning dedication to providing home buyers with mortgage loans that are affordable and align with their goals is evident with the glowing pool of user reviews since Caliber’s birth only 6 years ago.
#4 Florida FHA Lender: Eagle Home Mortgage
With only ten branches servicing the state of Florida, Eagle Home Mortgage is more than some underdog. As far as FHA approved lenders, Eagle Home Mortgage stands out as a shining example of what a mortgage transaction experience should be.
Everything from the highly knowledgeable mortgage team to the availability of their support staff makes dealing with Eagle an absolute pleasure from start to finish. Eagle is particularly sympathetic to borrowers with less than perfect credit history and strives to always provide the most competitive FHA mortgage rates around.
Excellent customer service including open lines of communication for any mortgage-related queries that come up truly make the mortgage transaction with Eagle feel more personal than the larger financial institutions can provide. For those looking for a faster option, their digital mortgage platform was designed with speed and efficiency in mind, for closing on the perfect loan in record time.
#5 Florida FHA Lender: Guaranteed Rate
Another Kingpin of the online mortgage trend that plays a large role in Florida FHA financing is Guaranteed Rate. Their participation in the digital mortgage wave leaves many other platforms lacking by comparison.
Guaranteed Rate is also extremely experienced with the origination of FHA loans. FHA financing through one of the best digital mortgage platforms available makes them serious competition to other FHA lenders, and highly favored among repeat and first time home buyers. FHA products are one of highest selling loans through guaranteed rate.
The online platform makes securely uploading the important financial documentation requested for a loan approval fast and easy. Borrowers can even check their credit scores through the service, rather than go elsewhere. Guaranteed Rate is one of the rare few digital mortgage platforms where a mortgage loan can be closed without ever needing to speak with someone unless requested by the home buyer.
Shop Around Before You Get a Florida FHA Loan
Even if you decide to check out our top picks for the best FHA lenders in Florida, Looking beyond these recommendations may still be a beneficial venture. Everyone has a unique financial situation, and sometimes the best mortgage terms can be found in the most obscure places. As a home buyer, regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal home loan that comes with the terms and affordability that best suits any particular financial situation.
While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best FHA lender in your area, don't hesitate to contact a home.loans mortgage expert!