The Best Mortgage Lenders in Millbrae, CA
Compare verified mortgage lenders serving Millbrae, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Millbrae
Featured Mortgage Lenders
Bay Area Capital Mortgage
Bay Area Capital Mortgage
Bay Area Capital Mortgage is a highly-rated local mortgage broker serving Millbrae and the entire Peninsula area with exceptional personalized service. They specialize in complex Bay Area real estate transactions and are known for their competitive jumbo loan rates, which are particularly valuable in Millbrae's high-cost housing market. Their team of experienced loan officers provides white-glove service with extensive knowledge of local market conditions and lending requirements.
Loan Types:
Guaranteed Rate
Guaranteed Rate
Guaranteed Rate has a strong local presence in the Bay Area with multiple offices serving Millbrae residents. As one of the largest retail mortgage lenders nationwide, they offer competitive rates and a streamlined digital mortgage experience while maintaining local expertise. Their San Mateo office is particularly experienced with Peninsula real estate markets and offers specialized jumbo loan programs well-suited for Millbrae's affluent housing market.
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Patelco Credit Union
Patelco Credit Union
Patelco Credit Union is a member-owned financial institution with deep roots in the Bay Area and multiple branches serving Millbrae residents. They offer competitive mortgage rates to members and are particularly strong with first-time homebuyer programs and relationship-based pricing. Their local branch network provides personalized service with the stability of an established credit union, and they have extensive experience with California-specific lending requirements and programs.
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Frequently Asked Questions
Common questions about mortgage lending in Millbrae, CA
What are the current mortgage rates like in Millbrae, CA?
Millbrae mortgage rates are typically slightly higher than national averages due to the Bay Area's high-cost housing market and competitive real estate environment. As of late 2023, rates for 30-year fixed mortgages in Millbrae generally range from 6.5% to 7.5%, but can vary based on credit score, loan amount, and lender competition in San Mateo County.
Are there any special first-time homebuyer programs available specifically for Millbrae residents?
Yes, Millbrae homebuyers can access the San Mateo County Down Payment Assistance Loan Program, which offers up to 20% of the purchase price in down payment assistance. Additionally, the California Housing Finance Agency's CalHFA programs are widely used in Millbrae, providing competitive rates and down payment assistance for qualifying first-time buyers in this expensive market.
How does Millbrae's proximity to San Francisco International Airport affect mortgage lending considerations?
Lenders may require additional documentation for properties in specific noise zones or flight paths near SFO. Some lenders might apply slightly more conservative appraisal approaches for homes closest to the airport, though Millbrae's excellent location and strong property values generally make it an attractive lending market despite airport proximity.
What are the typical down payment requirements for Millbrae's high-priced real estate market?
Given Millbrae's median home prices typically exceeding $1.5 million, conventional loans often require 20% down payments ($300,000+). However, jumbo loans common in Millbrae may require 10-20% down, and some lenders offer specialized high-balance conventional loans with down payments as low as 10% for well-qualified buyers.
Are there any local Millbrae property characteristics that affect mortgage approval or terms?
Yes, homes in Millbrae's hillside areas may require additional geological reports and inspections, which can affect loan timelines. Properties with accessory dwelling units (ADUs) are increasingly common and can sometimes help qualification by considering potential rental income, though this requires specific lender programs and documentation.
Nearby Cities
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Why Choose a Mortgage Lender in Millbrae?
Local Market Knowledge
Lenders who understand Millbrae'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 Millbrae and get competitive rates on your home loan.