10 Best California Mortgage Lenders of 2022

If you’re looking to buy or refinance a home in California in 2022, NerdWallet can help you choose from some of the best mortgage lenders in the state.

Last updated on January 6, 2022
Written by 
NerdWallet
Beth Buczynski
Edited by 
Beth Buczynski
Lead Assigning Editor
Fact Checked
NerdWallet
Written by 
Beth Buczynski
Edited by 
Beth Buczynski
Lead Assigning Editor
Fact Checked

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners and here's how we make money.

  • 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.
NerdWallet's mortgage content, including articles, reviews and recommendations, is produced by a team of writers and editors who specialize in home lending. Their work has appeared in The Associated Press, USA Today, The Washington Post, MarketWatch, Newsweek and many other national, regional and local publications. They have been cited in publications including The Wall Street Journal, and appeared on NerdWallet's "Smart Money" podcast as well as local TV and radio.

10 Best California Mortgage Lenders of 2022

Have you or your spouse served in the military?

We’ve got more home loan options for you. Show me

Lender
NerdWallet Rating
Min. credit score
Min. down payment
Learn more
Rate

Rate: NMLS#2611

Learn more
at Rate
at Rate
Home loans overall
Best for online experience

620

3%

New American Funding

New American Funding: NMLS#6606

Learn more
at New American Funding
at New American Funding
4.0
/5
Home loans overall
Best for borrowers with bad credit

580

3%

Learn more
at New American Funding
at New American Funding
Better

Better: NMLS#330511

4.5
/5
Home loans overall
Best for first-time home buyers

620

3%

Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

Learn more
at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
4.5
/5
Home loans overall
Best for online experience

620

1%

Learn more
at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
SoFi

SoFi: NMLS#696891

LEARN MORE
on NerdWallet
4.5
/5
Home loans overall
Best for first-time home buyers

620

3%

LEARN MORE
on NerdWallet
Bank of America

Bank of America: NMLS#399802

LEARN MORE
on NerdWallet
4.0
/5
Home loans overall
Best for face-to-face service

660

5%

LEARN MORE
on NerdWallet
Veterans United

Veterans United: NMLS#1907

Learn more
at Veterans United
at Veterans United
4.5
/5
Home loans overall
Best for borrowers with bad credit

620

3%

Learn more
at Veterans United
at Veterans United
loanDepot

loanDepot: NMLS#174457

LEARN MORE
on NerdWallet
4.5
/5
Refinancing
Best for refinancing

620

5%

LEARN MORE
on NerdWallet
Citibank

Citibank: NMLS#412915

LEARN MORE
on NerdWallet
4.0
/5
Home loans overall
Best for face-to-face service

N/A

3%

LEARN MORE
on NerdWallet
Chase

Chase: NMLS#399798

LEARN MORE
on NerdWallet
4.5
/5
Refinancing
Best for refinancing

620

3%

LEARN MORE
on NerdWallet
Rate
Learn more
at Rate
at Rate
Rate

Rate: NMLS#2611

5.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItRate boasts a streamlined application process, with full underwriting in as little as one business day, though average fees are higher than many competitors’.
Pros
  • Fully underwritten mortgage approval in as little as one day for qualified borrowers.
  • Generous selection of loans, including government-backed, interest-only, jumbo and renovation.
  • Advertises a HELOC that can be funded in as few as five business days.
Cons
  • Origination fees are on the high side, according to the latest federal data.
  • HELOC requires immediate, full withdrawal of funds.
Read Full Review
New American Funding
Learn more
at New American Funding
at New American Funding
New American Funding

New American Funding: NMLS#6606

4.0
Home loans overall
NerdWallet rating
Min. credit score

580

Min. down payment

3%

Why We Like ItNew American Funding offers a large menu of loan products, as well as programs like first-time home buyer assistance, but personalized mortgage rates aren't available on its website.
Pros
  • Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
  • Its home equity line of credit can be used for a primary residence or second home.
Cons
  • Average origination fees are on the high side, according to the latest federal data.
  • Personalized mortgage rates are not available on the website without providing contact information.
Better

Better: NMLS#330511

4.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItOnline-only lender Better offers a range of mortgage types and a one-stop shopping experience, though some borrowers may be turned off by the lender’s lack of chat support or a mobile app.
Pros
  • Borrowers can apply, lock in a rate and receive a commitment letter within one day.
  • Offers both HELOCs and home equity loans with a high borrowing limit of 90% CLTV.
  • Offers mortgages for manufactured homes, as well as financing for self-employed borrowers.
Cons
  • No mobile app; customer service is by email or phone only.
  • Borrower must provide contact information to see customized rates.
  • Does not offer renovation or construction loans.
Rocket Mortgage, LLC
Learn more
at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

4.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

1%

Why We Like ItRocket Mortgage is the largest mortgage lender by volume, standing out for its range of affordable borrowing options, down payment assistance and closing cost credits.
Pros
  • Reported average time to close is 15 days faster than industry average.
  • FHA and VA loans make up 40% of Rocket Mortgage’s total loan volume.
  • Borrowers can apply via mobile app.
Cons
  • Origination fees are on the higher end, according to the latest federal data.
  • No construction or renovation loans.
  • Physical branches are only available in Detroit, Cleveland, and Phoenix.
SoFi
LEARN MORE
on NerdWallet
SoFi

SoFi: NMLS#696891

4.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItSoFi offers standard purchase and refinance mortgage options, but not construction or renovation loans, and stands out for its convenient one-stop-shopping setup.
Pros
  • Offers a credit up to $10,000 if closing exceeds the contract date and the lender is at fault.
  • Sample mortgage rates are highly customizable.
  • Borrowers can lock in their rate for up to 91 days after preapproval.
Cons
  • Borrowers may experience difficulty with customer service.
Bank of America
LEARN MORE
on NerdWallet
Bank of America

Bank of America: NMLS#399802

4.0
Home loans overall
NerdWallet rating
Min. credit score

660

Min. down payment

5%

National / regional

National

Why We Like ItBank of America offers low interest rates, in-person service and plenty of loan options, but it was fined by regulators for reporting inaccurate mortgage data.
Pros
  • Interest rates are lower than most lenders, according to the latest federal data.
  • Offers up to $10,000 in down payment assistance to qualified borrowers.
  • Banking customers can get discounted interest rates or fees.
Cons
  • Mortgage origination fees are on the high side, according to the latest federal data.
  • Rate estimator tool doesn’t personalize by credit score.
  • Fined $12 million for reporting inaccurate mortgage applicant info to the federal government.
Veterans United
Learn more
at Veterans United
at Veterans United
Veterans United

Veterans United: NMLS#1907

4.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItVeterans United is the largest VA loan lender in the country, accounting for nearly a third of all VA loan originations. Most likely to appeal to veterans and servicemembers.
Pros
  • 24/7 customer service line supports servicemembers stationed internationally.
  • Niche VA products, including refinances, EEMs and VA jumbo loans.
  • Maintains a network of real estate agents experienced with VA borrowers.
Cons
  • No HELOCs or home equity loans.
  • No renovation loans.
  • No live chat feature on website.
loanDepot
LEARN MORE
on NerdWallet
loanDepot

loanDepot: NMLS#174457

4.5
Min. credit score

620

National / regional

National

Why We Like ItGood for: borrowers who want an easy online application and a variety of loan types to explore.
Pros
  • Has branches across the country for customers who prefer face-to-face service.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
  • Mortgage interest rates tend to be on the lower end, according to the latest federal data.
Cons
  • Mortgage rates aren't available online; you'll need to contact a loan officer.
  • Doesn't offer home equity loans or lines of credit.
Citibank
LEARN MORE
on NerdWallet
Citibank

Citibank: NMLS#412915

4.0
Home loans overall
NerdWallet rating
National / regional

National

Min. down payment

3%

Why We Like ItCiti offers solid customer support and a highly rated mobile app. Borrowers need to contact the lender for a customized rate quote or preapproval — but average mortgage rates are among the lowest of lenders we review.
Pros
  • Very low average interest rates compared to other lenders, according to the latest federal data.
  • Closing cost credits and interest rate discounts available.
  • Highly rated mobile app.
Cons
  • Preapproval and application require a phone call to complete.
  • Must contact the lender for customized rate quote.
  • Doesn’t offer renovation or construction-to-permanent loans.
Chase
LEARN MORE
on NerdWallet
Chase

Chase: NMLS#399798

4.5
Min. credit score

620

National / regional

National

Why We Like ItGood for: borrowers who want a wide selection of loan products, an in-person experience and comparatively low interest rates.
Pros
  • Carries a wide variety of mortgage types and products, including mortgages with down payments as low as 3%.
  • Offers low rates compared with other lenders, according to the latest federal data.
  • Offers a customizable mortgage calculator for personalized rate and payment estimates.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Doesn't offer home improvement loans, such as FHA 203(k) and HomeStyle.
  • You have to speak with a home loan adviser to complete the application.
  • Home equity lines of credit (HELOC) are currently unavailable.

Best California mortgage lenders by city

We took an even closer look to find lenders in major California cities. See our picks for best mortgage lenders in your area.

More from NerdWallet:

Last updated on January 6, 2022

Frequently asked questions

  • The median price of a home in California in 2020 hovered near $700,000, according to the California Association of Realtors. And while home prices vary widely depending on the region, Los Angeles, San Diego, San Jose, San Francisco and Sacramento were the least affordable areas for first-time buyers among the 50 largest metros in the U.S. in the fourth quarter of 2020, according to a NerdWallet affordability report.

  • The California mortgage lender that’s right for you will depend on your financial situation and your needs. Search for lenders offering loans that suit your needs, then be sure to compare interest rates. If you are a first-time buyer, California offers programs that can help you find a lender with favorable rates as well assist with a down payment and closing costs.

  • While the mortgage you get will depend more on the cost of the home and your situation, you can compare lenders by region as well. NerdWallet has compiled lists of the top lenders in San Francisco, Los Angeles and San Diego to help you find the right mortgage for your financial situation and needs.

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best California Mortgage Lenders of 2022

  • Rate: Best for online experience
  • New American Funding: Best for borrowers with bad credit
  • Better: Best for first-time home buyers
  • Rocket Mortgage, LLC: Best for online experience
  • SoFi: Best for first-time home buyers
  • Bank of America: Best for face-to-face service
  • Veterans United: Best for borrowers with bad credit
  • loanDepot: Best for refinancing
  • Citibank: Best for face-to-face service
  • Chase: Best for refinancing
NerdWallet Pixel