The Best Mortgage Lenders in Daly City, CA
Compare verified mortgage lenders serving Daly City, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Daly City
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in the Bay Area, known for its competitive rates and efficient online application process. They excel in customer service with high satisfaction ratings and offer a wide range of loan products, including specialized options for first-time homebuyers and jumbo loans. Their San Francisco office actively serves Daly City residents, providing personalized support and quick loan approvals.
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New American Funding
New American Funding
New American Funding is a highly regarded direct lender with a robust presence in California, offering diverse loan options and a commitment to underserved communities. They are praised for their responsive customer service, competitive rates, and efforts in promoting homeownership through educational resources. Serving Daly City from their Pleasanton office, they provide tailored mortgage solutions with a focus on reliability and community engagement.
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C2 Financial Corporation
C2 Financial Corporation
C2 Financial Corporation is a premier mortgage brokerage with extensive experience and high customer ratings for its personalized service and expertise in complex loan scenarios. They operate throughout California, including Daly City, and are known for their integrity, wide lender network, and ability to secure favorable terms. Clients appreciate their dedicated loan officers and comprehensive support throughout the mortgage process.
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Frequently Asked Questions
Common questions about mortgage lending in Daly City, CA
What are the current mortgage rates like in Daly City compared to the rest of the Bay Area?
Daly City mortgage rates are typically very competitive with the broader Bay Area, often slightly lower than in San Francisco proper due to marginally lower property risk. However, they remain higher than national averages due to our high-cost housing market. It's wise to compare rates from both local credit unions and national lenders for the best deal.
Are there any special first-time homebuyer programs available specifically for Daly City?
Yes, the City of Daly City offers the Daly City First-Time Homebuyer Down Payment Assistance Loan Program for qualifying low-to-moderate income buyers. This is a silent second loan that can cover up to 20% of the purchase price. You must also qualify for a first mortgage from a recognized lender and complete a homebuyer education course.
How does Daly City's proximity to San Francisco impact the mortgage and homebuying process?
Daly City's location creates high demand, which means a competitive market where pre-approval is essential. Lenders are very familiar with the area's stable property values, but they also scrutinize debt-to-income ratios closely due to the high loan amounts needed. Being just south of San Francisco can make you eligible for some Bay Area-wide loan programs with higher loan limits.
What unique closing costs should I anticipate when getting a mortgage in Daly City?
Beyond standard costs, you should budget for Daly City's specific transfer tax, which is $1.10 per $1,000 of the sale price, typically split between buyer and seller. Given the high home prices, this can be a significant amount. You may also encounter higher title insurance premiums and specific local endorsements due to the mature nature of many neighborhoods.
Are jumbo loans common for mortgages in Daly City, and what are the requirements?
Yes, jumbo loans are extremely common in Daly City as the conforming loan limits are often exceeded. Lenders in the area are experienced with these loans but typically require excellent credit (often 700+), a lower debt-to-income ratio, and larger down payments (frequently 20-25%). You may also need to show significant cash reserves after closing.
Nearby Cities
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Why Choose a Mortgage Lender in Daly City?
Local Market Knowledge
Lenders who understand Daly City'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 Daly City and get competitive rates on your home loan.