Best California Mortgage Lenders for 2025
Review
Updated
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If you're looking to buy a home in California, you're probably pretty excited. Unless you're planning to pay cash, the first step is to decide which mortgage lender is right for you. Here, we introduce six of our favorite lenders in The Golden State and offer insight into what it takes to score a California mortgage.
Best for: Top customer service and streamlined online app
Rocket Mortgage®
Bottom Line
Rocket Mortgage led the transition to a full digital experience and online-only applications. Its seamless process is one reason Rocket Mortgage is consistently ranked in the top two on J.D. Power's customer service rankings. Rocket Mortgage has a robust and high-quality app that makes it easy to use.
Min. Credit Score 580 FHA 620 other mortgage products 680 Jumbo
Min. Down Payment 0%-3.5% (FHA & VA loans) 3% (conventional loans)
Key Features
Loan Types
Fixed Rate Terms
Adjustable Rate Terms
Best for: Diverse loan offerings
PNC Mortgage
Bottom Line
PNC is a large bank with a wide range of financial products. It offers an online tool called Home Insight Planner to help borrowers find a home that fits their budget and needs. It then matches a borrower to its diverse loan products and terms. PNC can accommodate many borrowers, including those looking for mortgage options with no PMI.
Min. Credit Score
Min. Down Payment 0% VA and USDA 3% conventional 3.5% FHA
Key Features
Loan Types
Fixed Rate Terms
Adjustable Rate Terms
Best for: Diverse loan types and terms
New American Funding
Bottom Line
New American Funding is one of the largest privately owned direct mortgage lenders in the country. The lender offers competitive rates. Its selection of loans and customizable loan terms is broader than many other lenders'. The lender also has a highly efficient lending process that allows for quicker closing times. What's more, New American can be a good solution for people building credit and wanting a good mortgage. It focuses on lending to underserved communities.
Min. Credit Score 500 FHA 620 other mortgage products
Min. Down Payment 0% VA 3% Conventional 3.5% FHA
Key Features
Loan Types
Fixed Rate Terms
Adjustable Rate Terms
Best for: Online lending
Guaranteed Rate Mortgage
Bottom Line
Guaranteed Rate does a great job with ease of usability, offering comprehensive loan information during your research phase, plus the option to securely upload and digitally sign loan documents when you're ready to apply. The lender publishes its rates for different loans online, making it easy to compare options.
Min. Credit Score
Min. Down Payment
Key Features
Loan Types
Fixed Rate Terms
Adjustable Rate Terms
Best for: Military members
Bottom Line
The fact that it is the largest VA home lender speaks volumes. Veterans United specializes in VA loans for military members, and offers 24/7 customer service over the phone as well as free credit counseling service. But Veterans United also offers an array of terms and loan products, in addition to competitive rates.
Min. Credit Score
Min. Down Payment
Key Features
Loan Types
Fixed Rate Terms
Adjustable Rate Terms
Best for: Customer service
Pennymac
Bottom Line
Pennymac specializes in government mortgages like VA and FHA loans. Pennymac offers rate transparency, help via phone or online, flexible loan terms, and a rate guaranteed to beat competitors. Pennymac is a great place for people to start looking for a mortgage.
Min. Credit Score 580 FHA and VA loans 620 Conventional loan 700 Jumbo loan
Min. Down Payment
Key Features
Loan Types
Fixed Rate Terms
Adjustable Rate Terms
PNC Mortgage has been providing exceptional home financing solutions for countless individuals and families for over 170 years. Dedicated to delivering innovation, quality, and unparalleled customer service, PNC Mortgage makes the mortgage process simple and seamless. With a wide range of mortgage options and competitive rates, first-time home buyers or seasoned homeowners will benefit from PNC's resources and support.
In today's fast-paced world, where time is money, purchasing a home can be a long and complicated process. However, with Rocket Mortgage, homeownership has become more convenient. With just a few clicks, you can get pre-approved for a mortgage, manage your documents, and even close on your home right from your smartphone.
New American Funding stands out with its personalized approach and commitment to excellence. As one of the largest privately-owned direct mortgage lenders, it offers a variety of loan options and has a team of experts that guide you through the entire process. From first-time home buyers to those looking to refinance, New American Funding strives to make the experience seamless and hassle-free. It has been recognized for outstanding customer satisfaction ratings and transparent communication throughout the loan process.
It would be tough to beat the robust online digital experience provided by Guaranteed Rate. From educational materials for first-time home buyers to a wide variety of loan products, it's easy to see why Guaranteed Rate ranks so well with customers. Whether they're buying a new home or refinancing, customers rave about the service and consider it one of the best California mortgage lenders.
READ MORE: The Truth About Refinancing Your Mortgage
Veterans United offers VA loans and much more. Founded 20 years ago, the mortgage lender provides customer advocates from every branch of the military to make sure its customers are treated fairly. With low down payments and a minimum credit score of 620, the lender makes it easier for military members to land a great mortgage.
It's with good reason that PennyMac is one of the largest mortgage lenders in the U.S. Also based in California, the lender offers quick rate quotes without a credit check and a wide array of mortgage types.
READ MORE: How to Get a Mortgage
The right mortgage lender does not tend to fall into your lap. Finding it takes effort on your part. The good news is the best California mortgage lenders can save you thousands of dollars over the life of your loan.
You may feel as though a lender is asking you for an excessive amount of documentation, but rest assured that it's all part of the process. Here's what you'll need to do to get approved for a mortgage loan:
READ MORE: What Documents Are Required for a Home Loan Application?
READ MORE: How to Increase Your Credit Score
The higher your credit score, the better. While some lenders will approve a mortgage with a score as low as 580, it's important to know that the mortgage rate you pay on that loan will be higher (sometimes, much higher) than it would be with a high score. Again, if you can take the time to build your score up, you'll save money over the life of the loan.
The amount you'll pay for a down payment depends on the type of loan you're taking out. For example, you can get a VA loan with 0% down and an FHA loan with 3.5% down. Remember that old rule about needing to put at least 20% down on a mortgage? It's not necessarily true today, but putting 20% or more down means you won't have to pay for monthly mortgage insurance -- saving you money each month.
READ MORE: Down Payments: What They Are, How They Work & How Much to Put Down
While some home-buyer programs are state-wide, others are offered by specific counties. Here's a sample of the types of programs available in 2025:
California has hundreds of small, diverse communities scattered throughout. How much you'll pay for a home in California depends on where it's located. If possible, look for a home in an area you'll enjoy and choose the lender that best fits your needs.
If none of these lenders feel right to you or you're not finding mortgage rates you're happy with, don't be afraid to branch out. A credit union or other online lender may be a better fit. The idea is to find a mortgage you can happily live with for decades after closing on a home.
Before you do anything else, though, run the numbers to learn how much you can afford. Ideally, you can buy a home while still saving for the future.
READ MORE: California mortgage calculator
| Lender | Best For | Next Steps |
|---|---|---|
Rating image, 5.0 out of 5 stars.
5.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 5.0 out of 5 stars.
5.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Best For
Top customer service and streamlined online app |
|
Rating image, 4.0 out of 5 stars.
4.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.0 out of 5 stars.
4.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Best For
Diverse loan offerings |
|
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Best For
Diverse loan types and terms |
|
Rating image, 4.0 out of 5 stars.
4.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.0 out of 5 stars.
4.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Best For
Online lending |
|
Veterans United
Rating image, 4.0 out of 5 stars.
4.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.0 out of 5 stars.
4.0/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Best For
Military members |
Check Rates for Veterans United
On Veterans United's Secure Website. |
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.5 out of 5 stars.
4.5/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Best For
Customer service |
It all depends on what you want, because California has it all. Want to live in the mountains in the middle of nowhere? Dream of a beach house with sand outside your front door? Prefer a small town surrounded by farms? California offers all of this and more. The best place to live is where your needs will best be met.
California is a beautiful state with amazing weather and plenty of opportunities for work and play. But the cost of living, especially when it comes to real estate, can be quite high. Your salary will depend on where in the state you want to live and the type of home you're interested in. Generally, though, you'll need a six-figure income, around $350,000 to comfortably afford a home in California, especially in popular places like the Bay Area.
While it varies by transaction, it's customary for the buyer to pay title insurance.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page.
