The Best Mortgage Lenders in Selma, CA
Compare verified mortgage lenders serving Selma, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Selma
Featured Mortgage Lenders
New American Funding
New American Funding, LLC
New American Funding is a top-rated mortgage lender with a strong presence in California, including service to Selma. Founded in 2003, it has built a reputation for excellent customer service, competitive rates, and a wide range of loan options. The company is known for its focus on diverse communities and first-time homebuyers, with high customer satisfaction ratings on platforms like Zillow and LendingTree. Their local loan officers in the Central Valley ensure personalized service for Selma residents, making them a reliable choice for mortgages.
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Plaza Home Mortgage
Plaza Home Mortgage, Inc.
Plaza Home Mortgage is a highly regarded lender based in California, serving Selma and the broader Central Valley with a commitment to reliability and customer satisfaction. Founded in 2000, it offers extensive loan products and is praised for its efficient processing and competitive rates. With years of experience and strong reviews from clients, Plaza Home Mortgage excels in providing tailored solutions for homebuyers in Selma, backed by a team of local experts who understand the regional market dynamics.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a nationally recognized mortgage
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Frequently Asked Questions
Common questions about mortgage lending in Selma, CA
What are the current mortgage rates like for homes in Selma, CA?
Mortgage rates in Selma typically align with national averages but can vary based on local market conditions and lender competition. As of 2024, rates for 30-year fixed mortgages in the Selma area generally range from 6.5% to 7.5%, though individual rates depend on credit score, loan type, and down payment amount. Local lenders familiar with Selma's market may offer competitive rates compared to national banks.
Are there any first-time homebuyer programs specifically available in Selma?
Yes, Selma homebuyers can access California's statewide programs like the CalHFA FHA loan with down payment assistance, which is particularly valuable given Selma's median home prices. Additionally, the City of Selma occasionally partners with local nonprofits to offer homebuyer education workshops and limited down payment assistance grants. Many local lenders also offer special first-time buyer programs with reduced fees.
How does Selma's agricultural economy affect mortgage lending requirements?
Selma's agricultural economy means some lenders may require additional documentation for self-employed borrowers or seasonal workers, such as two years of consistent income verification. However, many local lenders understand the seasonal nature of agricultural work and can structure loan approvals accordingly. It's important to work with lenders experienced in Selma's unique employment landscape.
What types of properties typically require special mortgage consideration in Selma?
Older homes in Selma's historic districts or properties with agricultural land attachments often require special mortgage consideration. Lenders may require additional inspections for homes built before 1970, and properties with significant land may need agricultural or rural development loans. Standard conventional loans work well for most single-family homes in Selma's newer subdivisions.
Are there any local down payment assistance programs for Selma homebuyers?
While Selma doesn't have city-specific down payment programs, residents qualify for Fresno County's Homebuyer Assistance Program and California's statewide programs. The Self-Help Enterprises program also serves Selma residents with down payment assistance and affordable mortgage options. Many local credit unions offer special first-time buyer programs with lower down payment requirements tailored to Selma's market.
Why Choose a Mortgage Lender in Selma?
Local Market Knowledge
Lenders who understand Selma'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 Selma and get competitive rates on your home loan.