The Best Mortgage Lenders in Folsom, CA
Compare verified mortgage lenders serving Folsom, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Folsom
Featured Mortgage Lenders
Kevin McFarlin
Guild Mortgage - Folsom
Guild Mortgage's Folsom branch, led by Kevin McFarlin, maintains exceptional 4.9-star ratings across multiple platforms with nearly 200 reviews. This established local branch specializes in serving Folsom and Sacramento County homebuyers with personalized service. Their team offers comprehensive mortgage solutions including specialized programs for first-time buyers, veterans, and jumbo loan seekers. With over 60 years in business nationally and strong local presence, they're known for competitive rates, transparent communication, and guiding clients smoothly through the entire mortgage process from pre-approval to closing.
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Brian K. O'Connell
CrossCountry Mortgage - Folsom
CrossCountry Mortgage's Folsom location, managed by Brian K. O'Connell, earns consistent 4.8-star ratings for their exceptional customer service and expertise in the local Folsom market. This branch specializes in diverse loan products including construction loans and investment property financing, making them ideal for Folsom's growing real estate market. Their team is praised for responsiveness, detailed explanations of loan options, and efficient processing. With nearly 20 years of company history and strong regional presence, they offer competitive rates and personalized attention to both purchase and refinance clients throughout the Sacramento region.
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Schools Financial Credit Union
Schools Financial Credit Union - Folsom Branch
Schools Financial Credit Union's Folsom branch provides exceptional mortgage services with 4.7-star ratings and strong community trust. As a member-owned financial institution serving the greater Sacramento region since 1937, they offer competitive mortgage rates and low fees to Folsom residents. Their mortgage team specializes in first-time homebuyer programs, jumbo loans, and home equity solutions with personalized local service. Known for their member-focused approach, they provide comprehensive financial guidance beyond just mortgage lending, making them a trusted choice for Folsom homebuyers seeking long-term banking relationships with competitive terms and local decision-making.
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Frequently Asked Questions
Common questions about mortgage lending in Folsom, CA
What are the current mortgage rates like in Folsom, CA compared to the national average?
Folsom mortgage rates typically run slightly higher than national averages due to California's higher cost of living and competitive housing market. Currently, rates in Folsom range from approximately 6.5% to 7.25% for 30-year fixed mortgages, depending on credit score and loan type. It's wise to compare rates from multiple local lenders as Folsom's financial institutions often have competitive offerings.
Are there any special first-time homebuyer programs available specifically for Folsom residents?
Yes, Folsom homebuyers can access the CalHFA conventional loan program and the FHA loan program, both offering low down payment options. Additionally, the City of Folsom occasionally partners with local nonprofits to provide down payment assistance programs for qualifying buyers. Many local lenders also offer special first-time buyer programs with reduced fees for Folsom residents.
How does Folsom's Mello-Roos community facilities district affect my mortgage options?
Many newer Folsom neighborhoods, particularly in the Folsom Ranch area, include Mello-Roos taxes that can significantly increase your monthly housing costs. Lenders will factor these additional taxes into your debt-to-income ratio, potentially reducing your purchasing power. It's crucial to ask about Mello-Roos obligations when considering properties and work with a lender experienced in Folsom's special tax districts.
What unique mortgage considerations should I know about when buying in Folsom's historic district?
Homes in Folsom's historic district may require specialized lending approaches, as some properties have preservation requirements that can affect renovation loans. Lenders may require additional inspections and appraisals for historic properties, and you might need to explore renovation loans like the FHA 203(k) if updates are needed. Working with lenders familiar with Folsom's historic preservation guidelines is essential.
How competitive is the Folsom housing market, and how should that influence my mortgage pre-approval?
Folsom's housing market remains highly competitive, with desirable schools and amenities driving strong demand. To compete effectively, you'll need a solid pre-approval letter from a reputable local lender, preferably with underwriting completed in advance. Many sellers in Folsom prioritize offers with strong local lender pre-approvals, as they're viewed as more reliable than online-only lenders in this competitive market.
Why Choose a Mortgage Lender in Folsom?
Local Market Knowledge
Lenders who understand Folsom'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 Folsom and get competitive rates on your home loan.