The Best Mortgage Lenders in Sherman Oaks, CA
Compare verified mortgage lenders serving Sherman Oaks, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Sherman Oaks
Featured Mortgage Lenders
Brian Decker
Guaranteed Rate
Guaranteed Rate is one of the top-rated mortgage lenders nationally with a strong local presence in Sherman Oaks. Brian Decker's team consistently receives exceptional reviews for their responsiveness, expertise with California's competitive real estate market, and ability to close loans quickly. They specialize in jumbo loans which are particularly relevant for Sherman Oaks' higher-priced housing market, and offer competitive rates with digital mortgage processing that streamlines the entire experience.
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Michael Uribe
The Mortgage Corner
The Mortgage Corner is a highly respected local mortgage brokerage serving Sherman Oaks and the greater Los Angeles area for over two decades. Michael Uribe and his team are praised for their personalized service, deep knowledge of local market conditions, and ability to secure favorable terms for clients. As a broker, they have access to multiple lenders and can shop rates on behalf of borrowers, particularly valuable for jumbo loans and unique financial situations common in the Sherman Oaks market.
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Logix Federal Credit Union
Logix Federal Credit Union
Logix Federal Credit Union (formerly Lockheed) has been serving Southern California homeowners for over 85 years and maintains a strong presence in the San Fernando Valley with multiple branches near Sherman Oaks. They offer highly competitive rates to members, exceptional customer service, and specialize in both conventional and jumbo mortgages. Their local underwriting team and personalized approach make them a top choice for Sherman Oaks residents seeking the benefits of credit union membership combined with professional mortgage services.
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Frequently Asked Questions
Common questions about mortgage lending in Sherman Oaks, CA
What are the current mortgage rates like for homes in Sherman Oaks, CA?
Mortgage rates in Sherman Oaks are typically competitive with national averages but can be influenced by California's high-cost housing market. As of late 2023, rates for 30-year fixed mortgages in the area generally range from 6.5% to 7.5%, though jumbo loans for Sherman Oaks' luxury properties may carry slightly higher rates. It's advisable to shop multiple local lenders as rates can vary significantly for this competitive market.
Are there any special loan programs for first-time homebuyers in Sherman Oaks?
Yes, first-time homebuyers in Sherman Oaks can access California Housing Finance Agency (CalHFA) programs, which offer down payment assistance and competitive rates. Additionally, the City of Los Angeles offers programs like the Low Income Purchase Assistance Program (LIPA) that may apply to Sherman Oaks residents. Given Sherman Oaks' high median home prices, these programs can be particularly valuable for qualifying buyers.
How does Sherman Oaks' high property values affect mortgage requirements?
With the median home price in Sherman Oaks typically exceeding $1.5 million, most buyers will need jumbo loans that exceed conventional loan limits ($1,089,300 in LA County for 2023). Jumbo loans often require higher credit scores (typically 700+), larger down payments (15-20% minimum), and more extensive documentation of assets and income compared to conventional mortgages.
What local factors should I consider when getting a mortgage in Sherman Oaks?
Key local considerations include Sherman Oaks' high earthquake risk, which often requires separate earthquake insurance that lenders may mandate. Also, many Sherman Oaks properties are in hillside areas, which can require additional geological inspections and affect appraisal values. The competitive market means pre-approval from a reputable local lender is essential for serious offers.
Are there any city-specific mortgage considerations for Sherman Oaks condos or townhomes?
Yes, condos in Sherman Oaks must be in FHA-approved complexes to qualify for certain government-backed loans, which can limit financing options. Many Sherman Oaks condos also have high HOA fees that lenders will carefully scrutinize, as they affect debt-to-income ratios. Newer construction condos in developments like The Sherman Oaks might have different financing requirements than older buildings.
Nearby Cities
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Why Choose a Mortgage Lender in Sherman Oaks?
Local Market Knowledge
Lenders who understand Sherman Oaks'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 Sherman Oaks and get competitive rates on your home loan.