The Best Mortgage Lenders in El Dorado Hills, CA
Compare verified mortgage lenders serving El Dorado Hills, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in El Dorado Hills
Featured Mortgage Lenders
Chris Downey
SurePath Mortgage
SurePath Mortgage is a highly-rated local mortgage broker based directly in El Dorado Hills, earning exceptional customer reviews for personalized service and competitive rates. Chris Downey and his team specialize in serving the El Dorado Hills community with extensive experience in California's unique real estate market. They are known for their transparent process, quick closings, and expertise in jumbo loans that are common in this affluent area. Their local presence allows for in-person consultations and deep understanding of El Dorado Hills property values.
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Mike Hales
Guild Mortgage - El Dorado Hills
Guild Mortgage's El Dorado Hills branch, led by Mike Hales, provides comprehensive mortgage services with the backing of a national company that maintains strong local presence. With over 60 years in business, Guild offers stability and a wide range of loan products. The El Dorado Hills office receives outstanding reviews for their knowledgeable team, competitive rates, and exceptional customer service. They are particularly recognized for their expertise in construction loans and renovation financing, which are popular in the growing El Dorado Hills market.
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Member Services
SchoolsFirst Federal Credit Union
SchoolsFirst FCU is one of California's largest and highest-rated credit unions, serving educational employees and their families throughout the state including El Dorado Hills. While headquartered in Santa Ana, they have a strong presence in Northern California and offer highly competitive mortgage rates to members. They receive excellent reviews for their low fees, member-focused service, and straightforward mortgage process. As a credit union, they return profits to members through better rates and lower costs, making them a top choice for eligible borrowers in the El Dorado Hills area.
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Frequently Asked Questions
Common questions about mortgage lending in El Dorado Hills, CA
What are the current mortgage rates like in El Dorado Hills, CA?
Mortgage rates in El Dorado Hills are generally competitive with national averages but can be influenced by the area's high property values and demand. As of late 2023, rates for a 30-year fixed mortgage typically range from the mid-6% to low-7% range, but it's essential to shop around with local lenders who understand the El Dorado County market. Your specific rate will depend on your credit score, loan amount, and down payment.
Are there any special loan programs for first-time homebuyers in El Dorado Hills?
Yes, the California Housing Finance Agency (CalHFA) offers several programs that are accessible to El Dorado Hills buyers, including the MyHome Assistance Program for down payment help. Additionally, some local lenders may offer special programs for professionals like teachers or healthcare workers. Given El Dorado Hills' higher home prices, these programs can be particularly valuable for qualifying buyers.
How do El Dorado Hills' Mello-Roos taxes affect my mortgage qualification?
Mello-Roos Community Facilities Districts are common in newer El Dorado Hills developments like Serrano and some parts of the Town Center. These additional annual taxes (which can be thousands of dollars) must be included in your debt-to-income ratio calculation, potentially reducing your purchasing power by 5-10%. Your lender will help you identify these costs and factor them into your pre-approval amount.
What's the typical down payment requirement for El Dorado Hills' higher-priced homes?
Given El Dorado Hills' median home price of approximately $900,000-$1.1 million, conventional loans often require 10-20% down payments ($90,000-$220,000). However, jumbo loans (for amounts above $1,089,300 in 2023) may require even larger down payments of 20-30%. Some buyers use bridge loans or leverage equity from previous home sales to meet these requirements.
Are there any local mortgage considerations specific to El Dorado Hills' geography?
Yes, properties in El Dorado Hills' foothill locations may require additional insurance considerations that affect mortgage lending. Some areas may need supplemental earthquake insurance or wildfire coverage, which lenders will require as part of your escrow calculations. Additionally, homes in certain zones might need specialized inspections for slope stability or drainage issues before loan approval.
Why Choose a Mortgage Lender in El Dorado Hills?
Local Market Knowledge
Lenders who understand El Dorado Hills'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 El Dorado Hills and get competitive rates on your home loan.