Mortgage lenders in California | finder.com
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Best mortgage lenders in California

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How to afford and finance a house in The Golden State.

California’s sought-after real estate market means that prices aren’t cheap — but these lenders can help make it more feasible. Plus, government-backed programs can help you get approved and make the first payment.

Mortgage lenders in California

Mortgages in California tend to be higher on average than in other states. But these lenders have a track record of better APRs, higher loan amounts, fairer terms and more satisfactory customer reviews.

Name Product Min. down payment Origination fee
3.5%
Depends
Connect with vetted home loan lenders quickly through this online marketplace.
Vylla
Vylla
3%
Depends
Explore financing options and home shopping services all on the same website.
3%
0.5% to 1.0%
Flexible options, fast approvals and support online backed by a trusted brand.
3%
0.5% to 1.0%
Streamline your mortgage from quote to final payment — all from your computer or phone.

Compare up to 4 providers

Mortgage lenders for veterans in California

Veterans have access to special loans that make buying a home easier and more affordable. The government-backed VA home loan program helps buyers get approved for a mortgage loan with better terms, sometimes with no down payment required. These lenders include:

Name Product Min. down payment Origination fee
0%
None
No lender fees and an easy online application from this top VA lender.
Vylla
Vylla
Depends
Explore financing options and home shopping services all on the same website.

Compare up to 4 providers

How to find the lenders and rates in California

Like any financial decision, there are many factors to consider beyond just finding the lowest interest rate. To find the best mortgage lender for you in California, keep an eye on:

  • Origination fees. This is the cost lenders charge for processing a loan application. Generally, origination fees shouldn’t be more than 1% of your total loan, though they can vary based on your lender and other factors.
  • Total APR. An APR is a broader measure than an interest rate, as it encompasses things like broker fees and closing costs as well. Finding a lender with a reasonable or low APR will help you stick to a budget.
  • Customer service. Pay attention to how easy it is to get in touch with the representatives and how attentive they seem to your case. Staying close to your contact can help ensure nothing slips through the cracks.
  • Special mortgage programs. The California Housing Finance Agency (CalHFA) offers homebuyer assistance programs for qualifying candidates to help make buying a house more accessible. Federal programs, such as USDA, VA, or FHA, offer loans to lower your down payment and help you get approved.

What to consider when looking for a mortgage in California

California has some of the most desired property in the country, and the prices reflect that. Though mortgage rates differ slightly depending on which metro area you’re moving to, they’re generally higher than other states.

And though down payments vary depending on the value of the home, they can quickly jump to six figures in California due to the high home costs. If you’re having trouble affording a down payment, reach out to a CalHFA-approved lender to help you qualify for one of California’s first-time homebuyer programs.

Both FHA and CalHFA have programs designed to reduce down payments to make buying a house more feasible.

Closing costs in California

The average closing costs in California — post tax — are $7,512. It ranks in the top 10 most expensive states to close on a house, though exact fees vary depending on the lender, location of the home and property type.

Bottom line

While California tends to be a more expensive state when it comes to real estate, there are programs in place to help you get approved and afford the cost of a mortgage.

But if you don’t qualify for one of those programs or you’re still not sure which loan is best for you, compare all of your options before making a decision.

Frequently asked questions

Home loans ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, customer reviews and borrower experience.

Read the full methodology of how we rate home loan providers.

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