The Best Mortgage Lenders in Palm Springs, CA
Compare verified mortgage lenders serving Palm Springs, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Palm Springs
Featured Mortgage Lenders
New American Funding
New American Funding
New American Funding is a highly-rated mortgage lender with a strong presence in the Coachella Valley, serving Palm Springs directly. Founded in 2003, they are known for competitive rates, exceptional customer service, and a wide range of loan options, including specialized programs for first-time homebuyers and diverse borrowers. With over 450 reviews highlighting their reliability and efficiency, they have built a reputation for seamless closings and personalized support. Their local branch in Palm Desert ensures easy access for Palm Springs residents, backed by decades of industry experience and numerous awards for customer satisfaction.
Loan Types:
Caliber Home Loans
Caliber Home Loans Inc.
Caliber Home Loans is a top-rated mortgage lender with a significant regional footprint that includes Palm Springs. Established in 2008, they offer a comprehensive suite of loan products and are praised for their competitive rates, transparent processes, and strong local support. With nearly 400 reviews, customers consistently highlight their responsiveness and expertise in handling complex mortgages. Their Palm Desert office provides convenient service for Coachella Valley residents, and they are recognized for their commitment to community involvement and ethical lending practices, making them a trusted choice for homebuyers in the area.
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Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a premier lender serving Palm Springs with outstanding ratings and a long track record of excellence since 1996. They are renowned for their competitive rates, fast approvals, and personalized customer service, with over 420 reviews emphasizing their reliability and local expertise. Their Palm Desert branch ensures dedicated support for Coachella Valley clients, and they offer a broad array of loan types, including niche products for unique situations. Fairway has received multiple industry awards for customer satisfaction and is known for its strong community ties, making it a top choice for borrowers seeking a trustworthy and experienced mortgage partner.
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Frequently Asked Questions
Common questions about mortgage lending in Palm Springs, CA
What are the current mortgage rates like in Palm Springs compared to the rest of California?
Palm Springs mortgage rates are typically very competitive with statewide averages, but can sometimes be slightly higher due to the area's designation as a resort market. Local lenders familiar with the Coachella Valley's unique housing dynamics often offer the most favorable terms. It's wise to compare rates from both local credit unions and national lenders operating in the area.
Are there any special loan programs for first-time homebuyers in Palm Springs?
Yes, the City of Palm Springs offers its own Mortgage Assistance Program (MAP) that provides deferred-payment loans to help with down payment and closing costs for qualifying first-time homebuyers. Additionally, the California Housing Finance Agency (CalHFA) programs are widely available, which can be combined with local initiatives for maximum benefit when purchasing within city limits.
How does Palm Springs' high percentage of vacation homes affect mortgage lending?
Lenders often apply stricter guidelines for vacation or second home purchases, which are common in Palm Springs. You'll typically need higher credit scores, larger down payments (often 20-30%), and more cash reserves than for a primary residence. Some lenders may also have geographic restrictions or additional requirements for properties in certain resort communities.
What should I know about getting a mortgage for a mid-century modern or historic home in Palm Springs?
Financing mid-century modern homes, especially those in historic districts, requires special consideration. Some lenders may require additional inspections or appraisals from specialists familiar with these unique properties. FHA 203(k) rehabilitation loans can be particularly useful for restoring these homes while preserving their architectural integrity, but you'll want to work with lenders experienced in this niche.
Are there any local property characteristics that affect mortgages in Palm Springs?
Yes, several Palm Springs-specific factors can impact financing. Homes with mineral rights issues (common in some areas), leased land arrangements (particularly in mobile home parks), or properties with vacation rental permits may face additional lending requirements. Additionally, lenders may have specific guidelines for homes with pool and spa systems given the desert climate and high maintenance costs.
Nearby Cities
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Why Choose a Mortgage Lender in Palm Springs?
Local Market Knowledge
Lenders who understand Palm Springs'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 Palm Springs and get competitive rates on your home loan.