Top 5 FHA Lenders in California 2019
If you’re looking for the best mortgage lenders in California, you have a lot of options to consider. California is home to almost 40 million people, and with today’s mortgage rates as low as they are, the housing market is ready for serious home buyers. Home values have increased roughly 4.7 percent between December of 2017 through 2018 and is forecasted to rise a whopping 7.3% through 2019.
With home the upward trend of rising home values, it’s a wise move for home buyers on the market for a home loan to do everything they can to keep their housing costs as low as possible. Getting a great mortgage would probably be the best place to start. 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 California and how they can help you on your quest to home ownership.
2019 California FHA Lender Best Picks
Best for First Time Home Buyers: New American Funding
Best Online Experience: Rocket Mortgage
Best Local Lener: Summit Funding, Inc.
Best Face-to-Face Experience: RPM Mortgage
Best Overall Performance: Loan Depot
#1 California FHA Lender: RPM Mortgage
RPM Mortgage is one of the most well-reviewed mortgage lenders in the state of California, and for good reason. The company prides itself on being able to navigate even the most complex of mortgage transactions with ease, and their clients are more than willing to attest to that fact.
The RPM mortgage team makes the entire home loan process as transparent as possible, allowing home buyers to be confident in their decisions. The more complex the situation, the harder they are willing to work towards finding the right home loan for their client. Don’t just take our word for it either, its all documented in what they call their “client wins”.
As far as California FHA financing goes, originating these loans for such an experienced team is more like a walk in the park. Their mortgage experts provide round the clock service, and will not hesitate to provide any advice or information as requested from a borrower.
#2 California FHA Lender: Rocket Mortgage
Finding a mortgage online is growing more popular by the day, but the amazing team over at Rocket mortgage has truly set the standard for the online mortgage experience. In California, Rocket Mortgage (a division of Quicken Loans) has made the process of obtaining FHA financing as transparent and streamlined as possible.
The online FHA loan process is highly geared towards a stress-free, and secure user experience. Through Rocket Mortgage, the progress on the status of an FHA loan application can be easily tracked online, and even preapproval for an FHA mortgage can be completed in a matter of minutes.
Rocket Mortgage’s platform even actively notifies applicants of any documentation they may have forgotten or still need to provide. The greatest asset for home buyers 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.
#3 California FHA Lender: New American Funding
The good folks over at New American Funding know how to give people a great mortgage experience. For first time home buyers, their commitment to providing affordable FHA financing is nearly unrivaled.
The proof is in the reviews form past clients who consistently comment on the extraordinary diligence and overall sincerity of the New American Funding team. Home buyers who choose to finance their home purchase with NAF are in the hands of a knowledgeable and hard-working group.
The New American Funding team leaves no questions unanswered and is almost never out of reach. They are also quite adept at reducing the closing costs of mortgages down to the bare minimum, in an effort to provide home loans of the highest up-front affordability.
#4 California FHA Lender: Loan Depot
As large as Loan Depot has become since it’s inception, there is no surprise that it would make a list such as this one. Truly a powerhouse when it comes to home finance, Loan Depot is no stranger to FHA mortgages and the borrowers who need them.
The loan officers under the employ at Loan Depot are highly knowledgeable and well trained individuals. Their expertise is shown clearly in the speed and ease of the mortgage transactions they take part in, And their uncompromised goal of providing down to the decimal quotes that hold true through closing, leaving the borrower with no surprises.
Customer service is a big deal for the loan depot team, and they typically do not disappoint. Past clients have been stunned by the lower than expected rates and fees, combined with speedy closings.
#5 California FHA Lender: Summit Funding, Inc.
Another highly-reviewed gem, Summit Funding has a staff that goes above and beyond for its client base. Their “customer comes first” attitude puts them light years ahead of many of the local lenders and even some of the bigger names in home finance.
Summit’s methodology includes finding out what the borrower wants out of their home loan before presenting them with anything. Their team is comprised of seasoned individuals who provide expert advice and insights on home loan products.
First time home buyers and even borrowers with bruised credit history can trust that Summit Funding can produce affordable FHA financing with a laid-back mortgage transaction for all parties involved. The customer service of their team truly takes the fear out of borrowing money.
Shop Around Before You Get a California FHA Loan
Our picks for the best FHA lenders in California, may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, 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!