The Best Mortgage Lenders in Pacoima, CA
Compare verified mortgage lenders serving Pacoima, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Pacoima
Featured Mortgage Lenders
Rick Soulet
New American Funding
New American Funding is a top-rated mortgage lender with a strong presence in the San Fernando Valley, serving Pacoima residents with exceptional service. They specialize in diverse loan programs including specialized options for first-time homebuyers and competitive FHA/VA loans. With over 18 years of industry experience, their local team provides personalized service and has built a reputation for closing loans quickly and efficiently. Their high customer satisfaction ratings and extensive review history demonstrate consistent reliability in the Pacoima housing market.
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Jason R. Carter
loanDepot
loanDepot has established itself as a premier mortgage lender serving the Pacoima area with a comprehensive range of loan products and competitive rates. Their local Woodland Hills office provides convenient access for Pacoima residents seeking both purchase and refinance options. With strong emphasis on digital mortgage solutions and personalized service, they've built a reputation for streamlining the lending process. Their high customer satisfaction scores and extensive experience with California's unique housing market make them a trusted choice for Pacoima homebuyers.
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David G. Carter
CrossCountry Mortgage
CrossCountry Mortgage maintains a strong local presence in the San Fernando Valley with multiple offices serving Pacoima homebuyers. They offer a wide array of mortgage solutions with particular expertise in jumbo loans and construction financing. Their team brings extensive knowledge of the local Pacoima real estate market and has built a solid reputation for transparent communication and reliable service. With competitive rates and flexible loan programs, they consistently receive high marks from clients for their professionalism and attention to detail throughout the mortgage process.
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Frequently Asked Questions
Common questions about mortgage lending in Pacoima, CA
What first-time homebuyer programs are available specifically in Pacoima, CA?
Pacoima homebuyers can access several helpful programs, including the CalHFA FHA loan with a Zero Interest Program (ZIP) for down payment assistance, which is particularly beneficial in this area. Additionally, the City of Los Angeles' Home Ownership Program (HOP) offers deferred-payment loans to assist with down payment and closing costs for income-qualified buyers purchasing in Pacoima. These programs can significantly reduce upfront costs in Pacoima's competitive market.
How does Pacoima's location in a high-cost area affect mortgage lending limits?
As part of Los Angeles County, Pacoima falls under high-cost area conforming loan limits, which for 2024 are $1,149,825 for a single-family home. This higher limit means more buyers can use conventional loans rather than jumbo loans, which typically have stricter requirements. This is particularly important in Pacoima's evolving market where home values have been rising steadily.
Are there any special mortgage considerations for Pacoima's older housing stock?
Yes, many Pacoima homes built before 1978 may require additional inspections for lead-based paint, and older properties might need FHA 203(k) renovation loans to finance both purchase and repairs. Some lenders may also require thorough foundation and roof inspections given the age of many homes in Pacoima's established neighborhoods. These considerations can affect both loan approval and timeline.
What are current mortgage rates like for Pacoima homebuyers compared to national averages?
Pacoima mortgage rates typically align with Southern California averages, which may be slightly higher than national averages due to the region's higher cost of living and market demand. Currently, rates in Pacoima range from 6.5% to 7.5% for conventional 30-year fixed loans, but can vary based on credit score, loan type, and lender competition in the San Fernando Valley area.
Are there any local down payment assistance programs unique to Pacoima?
Pacoima residents may qualify for the Pacoima Community Redevelopment Area First-Time Homebuyer Program, which offers up to $60,000 in down payment assistance. Additionally, the Heritage Housing Partners program provides affordable homeownership opportunities specifically in the Northeast San Fernando Valley, including Pacoima. These local initiatives complement state programs and can make homeownership more accessible in this community.
Nearby Cities
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Why Choose a Mortgage Lender in Pacoima?
Local Market Knowledge
Lenders who understand Pacoima'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 Pacoima and get competitive rates on your home loan.