The Best Mortgage Lenders in Cerritos, CA
Compare verified mortgage lenders serving Cerritos, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cerritos
Featured Mortgage Lenders
New American Funding
New American Funding
New American Funding is a highly reputable mortgage lender with over two decades of experience, consistently earning top ratings for customer satisfaction and competitive rates. They specialize in diverse loan options, including government-backed and jumbo loans, and have a strong local presence in Southern California, serving Cerritos with personalized service. Their commitment to transparency and efficient processing makes them a preferred choice for homebuyers and refinancers in the area.
Loan Types:
loanDepot
loanDepot, LLC
loanDepot is a technology-driven mortgage lender known for its innovative online platform and competitive pricing, with a solid track record of serving Cerritos and the broader Southern California region. Founded in 2010, they offer a wide array of loan products and have garnered high customer reviews for their streamlined application process and responsive customer support. Their focus on digital convenience and rate competitiveness makes them a top option for modern homebuyers.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage is an established lender with over 20 years of experience, praised for its personalized service and high approval rates in the Cerritos area. They provide a comprehensive suite of mortgage products and have built a strong reputation for reliability and community involvement. With numerous positive reviews highlighting their expert guidance and local expertise, they are a trusted choice for home financing in Southern California.
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Frequently Asked Questions
Common questions about mortgage lending in Cerritos, CA
What are the current mortgage rates like for homebuyers in Cerritos, CA?
Mortgage rates in Cerritos typically align with national averages but can vary based on lender competition in Los Angeles County. Currently, rates for 30-year fixed mortgages in Cerritos range from 6.5% to 7.2%, depending on credit score and loan type. It's wise to compare offers from both local Cerritos lenders and larger institutions to secure the best rate.
Are there any first-time homebuyer programs specifically available in Cerritos?
While Cerritos doesn't offer city-specific first-time buyer programs, residents can access several California and Los Angeles County programs. The CalHFA Conventional and FHA loan programs are popular choices, offering down payment assistance and competitive terms. Many Cerritos buyers also benefit from the California Dream for All Shared Appreciation loan program.
How does Cerritos' competitive housing market affect mortgage pre-approval requirements?
Given Cerritos' desirable school district and central location, the housing market remains competitive. Lenders typically require strong pre-approval letters with verified funds and underwriting, not just pre-qualification. Having a 20% down payment ready can make your offer more competitive, though some conventional loans in Cerritos accept as little as 3-5% down.
What special mortgage considerations should I know about for Cerritos' planned community and HOA properties?
Many Cerritos neighborhoods have HOAs with fees ranging from $100-$400 monthly. Lenders will factor these into your debt-to-income ratio and may require additional HOA documentation. For condos and townhomes, ensure the HOA is FHA or VA approved if using those loan programs, as some older Cerritos developments might not meet current requirements.
Are jumbo loans common in Cerritos given the higher home prices?
Yes, jumbo loans are frequently used in Cerritos where median home prices often exceed Los Angeles County's conforming loan limits ($1,149,825 for 2024). Local lenders are experienced with jumbo financing, typically requiring higher credit scores (700+) and larger down payments (10-20%). Interest rates for jumbo loans in Cerritos are generally competitive with conventional rates.
Nearby Cities
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Why Choose a Mortgage Lender in Cerritos?
Local Market Knowledge
Lenders who understand Cerritos'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 Cerritos and get competitive rates on your home loan.