The Best Mortgage Lenders in Valley Village, CA
Compare verified mortgage lenders serving Valley Village, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Valley Village
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a highly regarded national mortgage lender with a strong local presence in the San Fernando Valley, serving Valley Village residents with competitive rates and a seamless digital mortgage process. They are praised for their personalized service, fast closings, and extensive loan options, backed by thousands of positive reviews highlighting their responsiveness and expertise. Their Sherman Oaks office provides convenient access for face-to-face consultations, making them a top choice for homebuyers seeking reliability and innovation.
Loan Types:
New American Funding
New American Funding
New American Funding stands out for its commitment to diversity and community-focused lending, offering a wide array of loan products tailored to Valley Village homebuyers. With excellent customer satisfaction ratings, they are known for their competitive rates, educational resources, and dedicated support for first-time buyers and underserved communities. Their Glendale location ensures easy accessibility, and their reputation for transparent processes and timely closings makes them a trusted partner in the mortgage industry.
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Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender with a robust presence in the Los Angeles area, including Valley Village, renowned for exceptional customer service and a comprehensive range of mortgage solutions. They excel in providing personalized advice, competitive rates, and efficient loan processing, with numerous reviews praising their reliability and support throughout the homebuying journey. Their North Hollywood office offers local expertise, making them a preferred choice for those seeking a dependable and experienced mortgage partner.
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Frequently Asked Questions
Common questions about mortgage lending in Valley Village, CA
What are the current mortgage rates like for homes in Valley Village, CA?
Mortgage rates in Valley Village are typically competitive with the greater Los Angeles area, but can be influenced by the high property values in this desirable neighborhood. As of late 2024, rates for 30-year fixed mortgages generally range from the mid-6% to low-7% for well-qualified buyers. It's wise to compare offers from both local credit unions and national lenders who are familiar with the Valley Village market.
Are there any special loan programs for first-time homebuyers in Valley Village?
Yes, first-time homebuyers in Valley Village can explore the CalHFA conventional loan program, which often offers lower interest rates and down payment assistance. Additionally, the City of Los Angeles has programs like the Home Ownership Program (HOP) that may provide down payment assistance or affordable first mortgages, though eligibility can depend on income and the specific property location within the city limits.
How does Valley Village's competitive real estate market affect the mortgage process?
The highly competitive market in Valley Village often means homes sell quickly and sometimes above the asking price. This makes it crucial to get pre-approved (not just pre-qualified) for a mortgage to show sellers you are a serious and qualified buyer. Be prepared for your lender to order a rush appraisal, and consider an appraisal gap clause in your offer if you're confident in the home's value.
What should I know about property taxes and insurance when getting a mortgage in Valley Village?
Property taxes in Valley Village are approximately 1.25% of the purchase price, plus any local voter-approved bonds (Mello-Roos are rare here). For insurance, you'll need a standard California HO-3 policy, but be aware that due to its location in the San Fernando Valley, some lenders may require confirmation of earthquake insurance, which can be a significant additional cost to factor into your monthly payment.
Are jumbo loans common for financing homes in Valley Village?
Yes, jumbo loans are very common in Valley Village, as the median home price often exceeds the conforming loan limits set by Fannie Mae and Freddie Mac (which is $766,550 for a single-unit property in Los Angeles County for 2024). Lenders in the area are experienced with jumbo products, but be prepared for stricter credit and reserve requirements, typically needing a credit score above 700 and 6-12 months of mortgage payments in reserve after closing.
Nearby Cities
Explore mortgage lenders in cities near Valley Village, CA
Why Choose a Mortgage Lender in Valley Village?
Local Market Knowledge
Lenders who understand Valley Village'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 Valley Village and get competitive rates on your home loan.