The Best Mortgage Lenders in Moreno Valley, CA
Compare verified mortgage lenders serving Moreno Valley, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Moreno Valley
Featured Mortgage Lenders
CrossCountry Mortgage, LLC
CrossCountry Mortgage, LLC
CrossCountry Mortgage stands out as one of Moreno Valley's top-rated mortgage lenders with an exceptional 4.8 rating. As a direct lender with local presence, they offer personalized service combined with the resources of a national company. Their Moreno Valley branch specializes in serving the Inland Empire community with extensive experience in VA loans (important for the March Air Reserve Base community), FHA loans, and first-time homebuyer programs. They're known for competitive rates, streamlined processing, and exceptional customer service throughout the entire mortgage journey.
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Guild Mortgage Company
Guild Mortgage Company
Guild Mortgage has been serving California homeowners for over six decades and maintains a strong physical presence in Moreno Valley with a 4.7 customer rating. As one of the most established mortgage lenders in the area, they offer a comprehensive range of loan products with particular expertise in government-backed loans. Their local team understands the Moreno Valley housing market dynamics and provides personalized guidance through the entire mortgage process. Guild is renowned for their reliable service, competitive pricing, and commitment to helping borrowers find the right loan solution.
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Altura Credit Union
Altura Credit Union
Altura Credit Union brings exceptional value to Moreno Valley homebuyers as a member-owned financial institution with deep roots in Riverside County. With a 4.6 rating, they offer highly competitive mortgage rates and lower fees typically associated with credit unions. Their local mortgage specialists provide personalized service and understand the specific needs of Moreno Valley residents. Altura excels at first-time homebuyer programs, offers various down payment assistance options, and provides the advantage of local decision-making throughout the loan process.
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Frequently Asked Questions
Common questions about mortgage lending in Moreno Valley, CA
What are the current mortgage rates like in Moreno Valley, and how do they compare to the national average?
Mortgage rates in Moreno Valley typically align closely with California state averages, which can be slightly higher than the national average due to the state's high cost of living and competitive housing market. As of recent trends, rates in Moreno Valley are often 0.125% to 0.25% higher than the U.S. average, but shopping around with local lenders can help you find competitive offers. It's wise to monitor rate trends, as Moreno Valley's proximity to major economic centers like Los Angeles can influence local rate fluctuations.
Are there any first-time homebuyer programs specific to Moreno Valley that can help with down payment assistance?
Yes, Moreno Valley homebuyers can access several state and local programs, such as the CalHFA Zero Interest Program and the City of Moreno Valley's Mortgage Credit Certificate (MCC) program, which offers a federal tax credit on mortgage interest. Additionally, the Riverside County Homebuyer Assistance Program may provide down payment help for eligible buyers. These programs are designed to make homeownership more affordable in a market where median home prices have been rising steadily.
How does Moreno Valley's property tax rate affect my monthly mortgage payment?
Moreno Valley's effective property tax rate is approximately 1.1% to 1.2% of the assessed home value, which is typical for Riverside County. This means on a $500,000 home, you could expect annual property taxes of around $5,500 to $6,000, adding roughly $460 to $500 to your monthly mortgage payment if escrowed. It's important to factor this into your budget, as property taxes in California can increase with home value reassessments after purchase.
What types of loans are most common for Moreno Valley homebuyers, given the local market conditions?
Conventional loans and FHA loans are very popular in Moreno Valley, especially for buyers with moderate incomes or lower down payments. VA loans are also common due to the city's proximity to March Air Reserve Base and a significant veteran population. Given the area's competitive starter home market, many buyers opt for FHA loans with down payments as low as 3.5%, while conventional loans are favored for their flexibility and lower mortgage insurance costs over time.
How does Moreno Valley's housing market trends impact mortgage approval and home affordability?
Moreno Valley's housing market has seen steady price growth, making affordability a key concern for mortgage applicants. Lenders may require higher income verification or lower debt-to-income ratios to account for rising home values. Additionally, with inventory sometimes tight, pre-approval is crucial to compete effectively. Working with a local lender who understands Moreno Valley's market dynamics can help you structure a mortgage that aligns with both your financial situation and current housing trends.
Nearby Cities
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Why Choose a Mortgage Lender in Moreno Valley?
Local Market Knowledge
Lenders who understand Moreno Valley'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 Moreno Valley and get competitive rates on your home loan.