The Best Mortgage Lenders in San Diego, CA
Compare verified mortgage lenders serving San Diego, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in San Diego
Featured Mortgage Lenders
Guild Mortgage
Guild Mortgage Company
Guild Mortgage is a San Diego-based national lender with deep roots in the local community. Founded in 1960, they have consistently maintained exceptional customer satisfaction ratings and are particularly renowned for their expertise with VA loans and first-time homebuyer programs. Their local underwriting and processing teams provide personalized service with quick turnaround times, and they offer a comprehensive range of loan products with competitive rates. As a publicly traded company headquartered in San Diego, they have strong community ties and extensive experience with the local real estate market.
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First Republic Bank
First Republic Bank
First Republic Bank has built an exceptional reputation in Southern California for premium service and highly competitive jumbo loan rates. While recently acquired by JPMorgan Chase, they continue operating under their established brand with the same commitment to white-glove service. They're particularly favored by high-net-worth clients and professionals seeking personalized banking relationships. Their mortgage specialists provide dedicated, concierge-level service with direct access to decision-makers, and they're known for flexibility in underwriting and exceptional customer satisfaction throughout the loan process.
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Mission Fed Credit Union
Mission Federal Credit Union
As San Diego's largest credit union, Mission Fed has been serving the local community since 1961 with exceptional member service and competitive mortgage products. They consistently offer among the lowest rates in the region and provide significant savings through their member-owned structure. Their mortgage team includes local experts who understand San Diego's unique housing market, and they offer special first-time homebuyer programs with down payment assistance. Members benefit from personalized service, local decision-making, and the credit union's not-for-profit approach that often results in lower fees and better terms than traditional banks.
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Frequently Asked Questions
Common questions about mortgage lending in San Diego, CA
What are the current mortgage rates like in San Diego compared to the national average?
Mortgage rates in San Diego typically run slightly higher than the national average due to the region's competitive housing market and higher property values. Currently, San Diego rates are approximately 0.125% to 0.25% higher than national averages. However, rates can vary significantly between lenders, so it's important to shop around with local credit unions and mortgage brokers who understand the San Diego market.
Are there any special first-time homebuyer programs available specifically for San Diego residents?
Yes, the San Diego Housing Commission offers several local programs including the SDHC Homeownership Program and the Mortgage Credit Certificate program, which can provide down payment assistance and tax credits. Additionally, the California Housing Finance Agency's CalHFA programs are widely used in San Diego and can be combined with some local assistance programs to make homeownership more accessible.
How does San Diego's high cost of living affect mortgage qualification and debt-to-income ratios?
San Diego's high cost of living means lenders may be more flexible with debt-to-income ratios, often allowing up to 50% in some cases, compared to the standard 43% in many markets. However, you'll need strong income documentation and potentially a larger down payment to offset the higher monthly payments. Many lenders in San Diego are accustomed to working with buyers who have higher housing cost ratios due to the local market conditions.
What unique closing costs should I expect when buying a home in San Diego?
In addition to standard closing costs, San Diego homebuyers should budget for higher transfer taxes, which can be several thousand dollars depending on the purchase price. You'll also encounter specific local fees like Mello-Roos taxes in newer developments and potentially higher title insurance costs due to the region's premium real estate values. Some coastal properties may require additional environmental inspections not common in other markets.
How competitive is the jumbo loan market in San Diego given the high home prices?
Jumbo loans are very common in San Diego's mortgage market, with many local lenders offering competitive terms since most homes exceed conventional loan limits ($1,149,825 in 2024). San Diego's jumbo loan market is quite competitive, with rates often comparable to conventional loans, though they typically require stronger credit scores (700+) and larger down payments (usually 20% or more). Local credit unions and regional banks often offer the best jumbo loan terms in the area.
Nearby Cities
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Why Choose a Mortgage Lender in San Diego?
Local Market Knowledge
Lenders who understand San Diego'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 San Diego and get competitive rates on your home loan.