The Best Mortgage Lenders in Loomis, CA
Compare verified mortgage lenders serving Loomis, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Loomis
Featured Mortgage Lenders
Guild Mortgage Company
Guild Mortgage Company - Roseville
Guild Mortgage's Roseville office serves the Loomis area with exceptional expertise and personalized service. With over 60 years in the mortgage industry, this branch maintains a stellar 4.8-star rating from nearly 200 reviews, highlighting their commitment to customer satisfaction. They specialize in first-time homebuyer programs, government loans, and offer competitive rates. Their local loan officers have deep knowledge of the Placer County market and provide hands-on guidance through the entire mortgage process, making them a top choice for Loomis residents.
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New American Funding
New American Funding - Roseville
New American Funding's Roseville branch is highly rated for serving the Greater Sacramento area including Loomis. With over 300 positive reviews and a 4.7-star rating, they're known for their diverse loan programs and exceptional customer service. They specialize in helping borrowers with various financial backgrounds and offer their unique "I CAN" loan program for self-employed borrowers. Their local team provides personalized attention and competitive rates, with many reviewers praising their responsiveness and expertise in navigating complex loan scenarios.
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Patelco Credit Union
Patelco Credit Union
As one of Northern California's largest credit unions, Patelco has served the Loomis community for decades with competitive mortgage products and exceptional member service. With a 4.6-star rating from hundreds of reviews, they're praised for their low rates, minimal fees, and personalized approach to mortgage lending. Their local mortgage specialists understand the Placer County market intimately and offer exclusive first-time homebuyer programs. Members benefit from relationship pricing discounts and the credit union's not-for-profit structure, making them a trusted choice for Loomis home financing.
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Frequently Asked Questions
Common questions about mortgage lending in Loomis, CA
What are the current mortgage rates like in Loomis, CA compared to the national average?
Mortgage rates in Loomis typically align with national averages but can be slightly higher due to California's competitive housing market and higher home values. Currently, rates in Loomis range from 6.5% to 7.5% for 30-year fixed mortgages, depending on credit score and loan type. Working with a local lender who understands Placer County's market dynamics can help you secure the most competitive rate.
Are there any special loan programs for first-time homebuyers in Loomis?
Yes, Loomis homebuyers can access several California-specific programs including the CalHFA Conventional Loan and MyHome Assistance Program, which offer down payment assistance. Additionally, Placer County offers local programs that can be combined with state options. These programs are particularly valuable in Loomis where median home prices exceed $800,000, making down payment assistance crucial for many first-time buyers.
How does Loomis's rural character affect mortgage lending requirements?
Loomis's semi-rural designation can impact lending for properties with larger lots or unique characteristics. Properties over 5 acres may require specialized appraisals and could face stricter underwriting standards. Some lenders may have specific requirements for homes with wells, septic systems, or agricultural elements common in the Loomis area, so it's important to work with lenders experienced with rural properties.
What should I know about jumbo loans in Loomis given the high home prices?
With Loomis's median home price around $850,000, jumbo loans are common and typically required for loans exceeding $766,550. Local lenders often offer competitive jumbo rates but require excellent credit scores (typically 700+) and larger down payments (15-20%). Given Loomis's stable housing market, jumbo loan options are readily available through both local and national lenders serving Placer County.
Are there any local property tax considerations that affect mortgage payments in Loomis?
Yes, Loomis homeowners benefit from Proposition 13, which limits property tax increases, but new buyers should anticipate taxes around 1.1-1.25% of the purchase price. Additionally, Loomis has local assessment districts and potential Mello-Roos bonds in newer developments that can add to monthly payments. Your lender should provide a detailed estimate of these costs during the pre-approval process specific to your chosen property.
Why Choose a Mortgage Lender in Loomis?
Local Market Knowledge
Lenders who understand Loomis'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 Loomis and get competitive rates on your home loan.