The Best Mortgage Lenders in Burbank, CA
Compare verified mortgage lenders serving Burbank, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Burbank
Featured Mortgage Lenders
New American Funding
New American Funding
New American Funding is a top-rated mortgage lender known for its strong presence in Southern California, including Burbank. Founded in 2003, it has built a reputation for excellent customer service, competitive rates, and a wide range of loan options. With high ratings on platforms like BBB (A+ accredited) and Google Reviews, customers praise their efficient processing, personalized advice, and support for diverse borrowers, including first-time homebuyers. Their local office in Woodland Hills ensures accessible service for Burbank residents, backed by two decades of industry experience and a commitment to community involvement.
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Caliber Home Loans
Caliber Home Loans
Caliber Home Loans is a highly reputable mortgage lender serving Burbank and the greater Los Angeles area since 2008. With a focus on customer satisfaction, they offer competitive rates and a variety of loan products, including specialized options for veterans and refinancing. Rated highly for their responsive service and transparent processes, Caliber has accumulated strong reviews for their knowledgeable loan officers and smooth closing experiences. Their nearby Woodland Hills location provides convenient access for Burbank clients, supported by over 15 years of industry expertise and a solid track record in the California mortgage market.
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Guaranteed Rate
Guaranteed Rate
Guaranteed Rate is a leading mortgage lender with a strong local presence in the Burbank area, operating since 2000. Known for its innovative digital tools and competitive rates, it has earned high customer ratings for efficiency and reliability. Specializing in a broad array of loan types, including adjustable-rate and jumbo loans, Guaranteed Rate is praised for its quick approvals and expert guidance. With over two decades of experience, their Woodland Hills office serves Burbank residents effectively, backed by numerous positive reviews highlighting their professionalism and commitment to making the mortgage process straightforward and stress-free.
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Frequently Asked Questions
Common questions about mortgage lending in Burbank, CA
What are the current mortgage rates like for homes in Burbank, CA?
Burbank mortgage rates typically run slightly higher than national averages due to California's high-cost housing market. As of late 2023, rates for 30-year fixed mortgages in Burbank generally range from 6.5% to 7.5%, but can vary based on credit score, loan amount, and property type. Local lenders often have competitive rates specifically for Burbank's market conditions.
Are there any first-time homebuyer programs specific to Burbank?
While Burbank doesn't have city-specific first-time buyer programs, residents can access several Los Angeles County and California state programs. The CalHFA FHA program and MyHome Assistance Program are popular options that provide down payment assistance and competitive rates. Burbank buyers should also explore the City of Burbank's own affordable housing opportunities when available.
How does Burbank's competitive housing market affect mortgage pre-approval requirements?
Given Burbank's highly competitive real estate market, sellers expect strong pre-approvals from local lenders who understand the area. You'll need a fully documented pre-approval (not just pre-qualification) with verified funds for down payment and closing costs. Many successful buyers work with Burbank-based mortgage brokers who can provide quick underwriting decisions that sellers trust.
What unique closing costs should I expect when buying a home in Burbank?
Burbank homebuyers should budget for California-specific costs including supplemental property taxes, Mello-Roos fees (if applicable to newer developments), and higher transfer taxes. Closing costs typically range from 2-5% of the home price, with Burbank's higher home values making these percentages significant. Your lender should provide a detailed Burbank-specific estimate early in the process.
Are jumbo loans common for Burbank's expensive housing market?
Yes, jumbo loans are very common in Burbank where the median home price exceeds conventional loan limits. For 2024, the conventional limit in Los Angeles County is $1,149,825, meaning most Burbank homes require jumbo financing. Local lenders offer competitive jumbo products with varying down payment requirements, typically starting at 10-20% for well-qualified buyers.
Nearby Cities
Explore mortgage lenders in cities near Burbank, CA
Why Choose a Mortgage Lender in Burbank?
Local Market Knowledge
Lenders who understand Burbank's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in California.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Burbank and get competitive rates on your home loan.