The Best Mortgage Lenders in Chico, CA
Compare verified mortgage lenders serving Chico, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Chico
Featured Mortgage Lenders
Golden Valley Bank
Golden Valley Bank
Golden Valley Bank is a locally owned and operated community bank that has earned exceptional ratings for its personalized mortgage services in Chico. As a Chico-based institution, they have deep roots in the community and offer competitive rates with local decision-making. Their mortgage team provides comprehensive guidance through the entire home loan process, from pre-approval to closing. Customers consistently praise their responsiveness, transparency, and commitment to finding the right mortgage solution for each borrower's unique situation.
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Guild Mortgage - Chico Branch
Guild Mortgage Company
Guild Mortgage has maintained a strong presence in Chico with their local branch offering comprehensive mortgage solutions. As a national lender with deep local expertise, they combine the resources of a large institution with personalized service. Their Chico team specializes in guiding borrowers through various loan programs, with particular strength in first-time homebuyer assistance and government-backed loans. The company's long-standing reputation and high customer satisfaction ratings make them a trusted choice for Chico area homebuyers.
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Summit Funding - Redding/Chico
Summit Funding, Inc.
Summit Funding serves the Chico market from their nearby Redding location, providing extensive mortgage lending expertise to Northern California homebuyers. With nearly three decades of experience, they offer a wide range of loan products and are particularly noted for their competitive rates and efficient processing. Their loan officers have strong knowledge of the Chico real estate market and provide personalized service throughout the lending process. The company maintains excellent ratings for customer service and loan officer responsiveness.
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Frequently Asked Questions
Common questions about mortgage lending in Chico, CA
What are the current mortgage rates like for homebuyers in Chico, CA?
Mortgage rates in Chico typically align with national averages but can vary based on local market conditions and lender competition. Currently, rates in Butte County range from 6.5% to 7.5% for 30-year fixed mortgages, with local credit unions often offering competitive rates. It's wise to compare offers from both local and national lenders to secure the best rate for your Chico home purchase.
Are there any first-time homebuyer programs specifically available in Chico?
Yes, Chico homebuyers can access the California Housing Finance Agency's (CalHFA) MyHome Assistance Program, which provides down payment assistance up to 3.5% of the purchase price. Additionally, the City of Chico occasionally offers local assistance programs, and Butte County has specific programs for moderate-income buyers. These programs are particularly valuable given Chico's competitive housing market near CSU Chico.
How does Chico's wildfire risk affect the mortgage process and insurance requirements?
Due to Chico's location in a high wildfire risk area, many lenders require additional wildfire insurance coverage beyond standard homeowners insurance. This can increase your monthly housing costs by $100-$300 depending on your property's specific risk factors. Some insurers have become more selective about covering properties in Butte County, so it's crucial to secure insurance early in the mortgage approval process.
What special considerations should I know about buying a historic home in Chico's Barber Neighborhood?
Purchasing a historic home in Chico's designated historic districts may require specialized lending considerations. Some lenders may require additional inspections, and you might need to use renovation loans like the FHA 203(k) if updates are needed. Properties in Chico's historic districts may also have preservation restrictions that could affect your renovation plans and financing options.
How competitive is Chico's housing market, and how does that impact mortgage pre-approval?
Chico's housing market remains competitive, particularly for homes under $500,000, due to limited inventory and strong demand from CSU Chico faculty, staff, and students. Having a strong pre-approval letter from a reputable local lender is essential, as sellers often prioritize offers with local lender pre-approvals. Many successful buyers in Chico are obtaining pre-approvals that are 20-30% above their target purchase price to remain competitive in multiple-offer situations.
Why Choose a Mortgage Lender in Chico?
Local Market Knowledge
Lenders who understand Chico'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 Chico and get competitive rates on your home loan.