The Best Mortgage Lenders in Likely, CA
Compare verified mortgage lenders serving Likely, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Likely
Featured Mortgage Lenders
Sierra Pacific Mortgage
Sierra Pacific Mortgage Company, Inc.
Sierra Pacific Mortgage is a highly-rated regional lender with deep roots in Northern California's rural communities. With over 40 years of experience, they specialize in serving remote areas like Likely and understand the unique needs of rural property financing. Their local Susanville office provides personalized service and expertise in USDA loans, which are particularly relevant for the Likely area. They're known for competitive rates and exceptional customer service, with many reviewers praising their responsiveness and knowledge of rural property lending.
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Lassen County Federal Credit Union
Lassen County Federal Credit Union
As the primary credit union serving the entire Lassen County region, Lassen County FCU has extensive experience with mortgage lending in rural Northeastern California. They've been serving the community since 1956 and have particular expertise with properties in remote locations like Likely. Members consistently praise their competitive rates, personalized service, and understanding of local real estate markets. Their mortgage specialists are known for guiding borrowers through the entire process with exceptional care and attention to detail.
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Guild Mortgage
Guild Mortgage Company
Guild Mortgage has a strong local presence in Susanville with dedicated loan officers who regularly serve the Likely area and surrounding Modoc County. With over 60 years in business, they offer extensive experience with rural property financing and USDA loans, which are particularly valuable for the Likely market. Their local team understands the unique challenges of rural appraisals and property requirements. Customers consistently rate them highly for their communication, efficiency, and competitive loan products tailored to rural homebuyers' needs.
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Frequently Asked Questions
Common questions about mortgage lending in Likely, CA
What are the current mortgage rates like in Likely, CA, and how do they compare to state averages?
Mortgage rates in Likely typically run slightly higher than California's state average due to its rural location and smaller lending market. Currently, rates are generally 0.125% to 0.25% higher than urban centers like Sacramento or San Francisco. Working with lenders familiar with Modoc County can help you find the most competitive local rates.
Are there any special loan programs for buying rural property in Likely?
Yes, Likely qualifies for USDA Rural Development loans, which offer 100% financing with no down payment required. This is particularly beneficial given the area's agricultural and rural character. Additionally, some California Housing Finance Agency (CalHFA) programs can be combined with USDA loans for enhanced affordability.
How does the limited housing inventory in Likely affect mortgage approval and home values?
Likely's limited housing inventory means appraisals can be challenging due to fewer comparable sales, which may affect loan approval. Lenders may require additional documentation to justify the home's value. This limited supply also tends to support stable property values despite the small market size.
What should I know about property taxes and insurance when getting a mortgage in Likely?
Modoc County has relatively low property tax rates compared to urban California areas, typically around 1% of assessed value. However, wildfire insurance costs can be significant and should be factored into your monthly payment calculations, as this can impact your debt-to-income ratio for loan qualification.
Are there local lenders in Likely, or will I need to work with out-of-area mortgage companies?
While Likely itself has no brick-and-mortar mortgage lenders, several regional banks and credit unions in nearby Alturas and Susanville serve the area. These local institutions often have better understanding of Modoc County property values and may offer more flexible underwriting than large national lenders.
Why Choose a Mortgage Lender in Likely?
Local Market Knowledge
Lenders who understand Likely'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 Likely and get competitive rates on your home loan.