The Best Mortgage Lenders in Westwood, CA
Compare verified mortgage lenders serving Westwood, California. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Westwood
Featured Mortgage Lenders
Michael Semaan
CrossCountry Mortgage, LLC
Michael Semaan at CrossCountry Mortgage is one of the highest-rated mortgage professionals specifically serving the Westwood and West LA area. With over 185 exceptional reviews and nearly two decades of experience, he specializes in navigating complex California real estate markets. His expertise in jumbo loans is particularly valuable for Westwood's luxury housing market, while also offering comprehensive first-time homebuyer programs. The company's national presence combined with local expertise provides competitive rates and efficient processing, making them a top choice for Westwood residents seeking personalized mortgage solutions with exceptional customer service.
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David Li
Guild Mortgage Company
David Li at Guild Mortgage brings extensive experience serving the Westwood and greater Los Angeles market with a focus on personalized service and competitive financing options. Guild Mortgage has been in business for over 60 years, providing stability and reliability in the mortgage industry. David specializes in both purchase and refinance transactions, with particular expertise in jumbo loans that are common in Westwood's premium real estate market. His high customer satisfaction ratings reflect his commitment to guiding clients through complex mortgage processes with clear communication and attention to detail, making him a trusted resource for Westwood homebuyers.
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Mortgage Services Team
First Entertainment Credit Union
First Entertainment Credit Union, while headquartered in West Hills, extensively serves the Westwood area and has built a strong reputation for competitive rates and exceptional member service over 50+ years in operation. As a credit union, they offer member-focused pricing and personalized service that often beats traditional banks. Their mortgage team specializes in serving the unique needs of Southern California homebuyers, with particular strength in jumbo loans and first-time homebuyer programs. With over 215 positive reviews and longstanding community presence, they provide Westwood residents with reliable financing options combined with the benefits of credit union membership, including potentially lower fees and more flexible underwriting.
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Frequently Asked Questions
Common questions about mortgage lending in Westwood, CA
What are current mortgage rates like for homes in Westwood, CA?
Mortgage rates in Westwood typically run slightly higher than national averages due to the premium Los Angeles County location and competitive real estate market. As of 2024, expect rates around 0.25-0.5% higher than national averages for conventional loans. Working with a local lender familiar with Westwood's market dynamics can help you secure the most competitive rate available.
Are there any special loan programs for first-time homebuyers in Westwood?
Yes, the CalHFA conventional loan program is popular among Westwood first-time buyers, offering competitive interest rates and down payment assistance. Additionally, the City of Los Angeles offers programs like HOME and HOP that can provide down payment assistance, though availability may be limited in high-demand areas like Westwood. These programs are particularly valuable given Westwood's higher median home prices.
How does Westwood's competitive housing market affect the mortgage pre-approval process?
In Westwood's highly competitive market, a strong pre-approval is essential. Sellers expect fully underwritten pre-approvals rather than simple pre-qualifications, and many require proof of funds for down payment and closing costs. Working with a lender who can provide quick underwriting and understands Westwood's fast-paced market will give you a significant advantage when making offers.
What are the typical down payment requirements for Westwood's expensive housing market?
Given Westwood's median home prices exceeding $2 million, most buyers typically put down 20% or more to secure conventional financing. However, jumbo loans (common in Westwood) may require 20-30% down payments. Some lenders offer portfolio loans with more flexible terms for high-net-worth buyers, which can be particularly useful in this market.
Are there any local property tax considerations I should know about when getting a mortgage in Westwood?
Yes, Westwood properties fall under Los Angeles County tax rates of approximately 1.25% of assessed value, plus additional voter-approved bonds and assessments. Proposition 13 limits annual tax increases to 2%, but new purchases are reassessed at purchase price. Your lender should account for these taxes and any Mello-Roos or special assessments that might apply to specific Westwood properties.
Nearby Cities
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Why Choose a Mortgage Lender in Westwood?
Local Market Knowledge
Lenders who understand Westwood'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 Westwood and get competitive rates on your home loan.