The Best Mortgage Lenders in San Martin, CA
Compare verified mortgage lenders serving San Martin, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in San Martin
Featured Mortgage Lenders
Guild Mortgage - Morgan Hill
Guild Mortgage Company
Guild Mortgage's Morgan Hill branch is one of the highest-rated mortgage lenders serving the San Martin area, located just minutes away. With over 60 years in business nationally and strong local presence, they specialize in personalized service for South County residents. Their experienced loan officers are known for exceptional customer service and expertise in various loan programs including first-time homebuyer programs. The local team has deep knowledge of Santa Clara County's unique real estate market and provides competitive rates with flexible financing options.
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Spectrum Credit Union
Spectrum Credit Union
As a well-established credit union serving Santa Clara County since 1941, Spectrum Credit Union provides exceptional mortgage services to San Martin residents with highly competitive rates and member-focused approach. They consistently receive top marks for customer satisfaction and offer personalized guidance throughout the mortgage process. Their local loan officers understand the South County market dynamics and provide various loan options with the advantage of credit union membership benefits, including potentially lower fees and more flexible underwriting.
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New American Funding - San Jose
New American Funding
New American Funding's San Jose branch serves the entire South Bay area including San Martin, offering comprehensive mortgage solutions with a reputation for excellent customer service and competitive rates. As a direct lender with in-house processing and underwriting, they provide faster closings and more personalized service. They specialize in diverse loan programs and have particular expertise with both conventional and government-backed loans. Their local team understands the competitive Silicon Valley housing market and provides tailored solutions for buyers in Santa Clara County.
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Frequently Asked Questions
Common questions about mortgage lending in San Martin, CA
What are the current mortgage rates like in San Martin, CA?
Mortgage rates in San Martin typically align with national averages but can be slightly higher than surrounding areas due to the rural character and limited housing inventory. As of 2024, you can expect rates around 6.5-7% for 30-year fixed mortgages, though this varies by lender and borrower qualifications. Local credit unions like Star One Credit Union often offer competitive rates for Santa Clara County residents.
Are there any special loan programs for first-time homebuyers in San Martin?
Yes, San Martin homebuyers can access California's CalHFA programs including the CalHFA Conventional loan with down payment assistance. Additionally, Santa Clara County offers its own Affordable Homeownership Program providing deferred-payment loans for down payment and closing cost assistance to income-qualified buyers purchasing in unincorporated areas like San Martin.
How does San Martin's rural location affect mortgage lending requirements?
San Martin's rural designation means some properties may qualify for USDA loans, which offer 100% financing with no down payment required. However, lenders may require additional inspections for properties with wells and septic systems, which are common in the area. Appraisals might also take longer due to fewer comparable sales in this semi-rural market.
What should I know about jumbo loans in San Martin's housing market?
With median home prices around $1.2 million, many San Martin purchases require jumbo loans. Local lenders are familiar with the area's unique property types from equestrian estates to vineyard properties, but expect stricter requirements including higher credit scores (typically 700+), larger down payments (15-20% minimum), and more cash reserves than conventional loans.
Are there property-specific mortgage considerations unique to San Martin homes?
Absolutely. Many San Martin properties include agricultural elements like vineyards, orchards, or equestrian facilities that require specialized appraisals. Lenders may limit loan amounts based on the residential value only, excluding agricultural improvements. Properties with accessory dwelling units (ADUs) are increasingly common and can sometimes be used to help qualify for loans through potential rental income.
Why Choose a Mortgage Lender in San Martin?
Local Market Knowledge
Lenders who understand San Martin'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 Martin and get competitive rates on your home loan.