Best Los Angeles Mortgage Lenders


Editor’s note: The Bankrate Score only takes into account the products and services of a mortgage lender; it is not a reflection of any lender’s internal operations or practices. We continuously assess each lender we review to ensure that the Bankrate Score conforms to this methodology. If you would like to consider other lenders, visit Bankrate’s lender review center.

Sunny beaches, a foodie’s paradise, the heart of the entertainment industry and a booming tech scene – there are so many reasons to consider moving to Los Angeles. To buy a house here, however, you’ll likely need to borrow a large amount of money, as Los Angeles is one of the least affordable housing markets in the United States. This high price means it’s more important than ever to compare offers from multiple mortgage lenders to find the most competitive APR and lowest fees. Here are some of the best options to consider in Southern California.


To determine the best mortgage lenders by city, Bankrate evaluated lenders based on several criteria, including affordability (APR, discounts and/or incentives); availability (approval/closing times, loan products); and experience (application process, customer service). We also used Bankrate’s comparison tool to get an idea of ​​the types of deals available to homebuyers with different ranges of credit scores and down payments looking to buy in the Los Angeles metro area.

The Best Los Angeles Mortgage Lenders

Direct home loans

Direct Home Loans Review

Loans offered Credit requirements Strong points Good if
Purchase and refinancing; conventional, jumbo, FHA, VA, investment property, reverse mortgage 620 for conventional loans; 680 for jumbo loans; 600 for FHA loans and VA loans Most closings in 30 days or less; handy online pricing tool showing different options including fees Looking for a jumbo loan


  • Jumbo loans up to $10 million with a lower minimum credit score
  • Low payment loan options

The inconvenients

  • Does not offer USDA loans
  • Does not offer home equity lines of credit (HELOC) or home equity loans


Lower Mortgage Review

Loans offered Credit requirements Strong points Good if
Purchase and refinancing; conventional, jumbo, FHA, VA, USDA, HELOC, home equity loan, investment property 620 for conventional loans; 580 for FHA loans and VA loans Offers a savings program corresponding to the down payment; The Free Refi for Life program will waive fees if you ever refinance Looking for an FHA Loan


  • Closing purchases takes an average of 21 days
  • Completely online process makes application quick and easy
  • Free Refi for Life Program

The inconvenients

  • Charges $995 lender fee for new purchases
  • High upfront costs for discount points Mortgage Review

Loans offered Credit requirements Strong points Good if
Purchase and refinancing; conventional, jumbo, FHA, bridging loan 620 for conventional loans Three-minute pre-approvals; 24/7 support You are looking to refinance and you have excellent credit


  • Ideal digital experience for tech-savvy borrowers
  • No loan fees
  • Closes 10 days faster than the industry average

The inconvenients

  • Does not offer VA or USDA loans
  • Does not offer HELOC or home equity loans


LoanMonkey Mortgage Review

Loans offered Credit requirements Strong points Good if
Purchase and refinancing; conventional, jumbo, FHA, VA 680 for conventional loans Initial fee disclosure with online pricing tool; electronic closures eliminate the need for in-person hassle You want to make a lower down payment


  • Electronic closures
  • Down payments as low as 3% of the purchase price
  • Average closing time of 30 days

The inconvenients

  • Higher minimum credit score required to qualify
  • Charge lender fees

United Veterans Home Loans

United Veterans Home Loan Review

Loans offered Credit requirements Strong points Good if
Purchase and refinancing; conventional, jumbo, FHA, VA, USDA 620 for conventional loans and VA loans Takes into account non-traditional credit data; 24/7 support; free credit counseling services Looking for a VA Loan


  • Specializes in VA loans
  • 24/7 customer service
  • Thousands of five-star customer reviews and a strong balance sheet (funded over $25 billion in loans in 2020)

The inconvenients

  • Does not offer HELOC or home equity loans
  • Charges lender fees in some cases
  • 620 minimum credit score

Local Los Angeles Mortgage Lenders

West Bank

  • Good if: You want to get your mortgage in the same place as your banking

Bank of the West has offices in the Los Angeles metro area, and the bank offers a wide range of mortgage programs, including jumbo loans up to $4 million and home equity loans. There are other notable perks to look at here, including rate reductions for existing bank customers who set up automatic payments and down payment assistance programs for eligible borrowers.

Wells Fargo

While many banks won’t bother reviewing your application if you don’t have impeccable credit, Wells Fargo has options for those who want to buy a home but lack a credit history. To help you qualify for a mortgage, the bank may consider alternative data, such as rent payments and utility bills. You might also be able to take advantage of the “Dream” bank. Plan. Home.” Program designed to help low-to-middle income borrowers become homeowners.

One United Bank

  • Good if: You are a first-time home buyer and qualify for the bank’s Unity home loan program

As the nation’s largest black-owned bank and the first black online bank, OneUnited offers homeownership programs that aim to help black buyers become self-sufficient in three select markets nationwide: Boston, Miami and Los Angeles. Although in-person locations are limited – there is a branch on Crenshaw – you can also contact a loan consultant for help with your mortgage application.

What to know about getting a mortgage in Los Angeles

Before you start comparing lenders serving borrowers in Los Angeles, you’ll want to take a look at a map of the area to determine where your budget can stretch the most. The county covers over 4,000 square miles, so living in Los Angeles can have different implications for your budget depending on where exactly you are buying a home. For example, the median price of a home in Los Angeles was $950,000 at the end of 2021, according to Redfin. If you move away from the range, however, that price – and the level of competition – drops. In downtown Los Angeles, the median price is more than $300,000 lower.

If this is your first time taking out a mortgage, you may also be able to get help. California programs for first-time home buyers include down payment assistance, which can help you borrow money for the down payment and closing costs with a deferred payment plan (you will pay the money back when you sell the house or refinance your mortgage). You’ll likely need to complete a homebuyer training course to qualify, but the duty is well worth the potential savings and ability to start building home equity. Also be sure to watch local. The Los Angeles County Development Authority offers a range of programs for eligible first time buyers.

Although the prices in Los Angeles may seem daunting, there is good news that may help you feel a little more comfortable when you start your search: the market here is not as fast as some other big destinations. At the end of 2021, properties were available on the market for around 40 days on average, according to Redfin – a lifetime compared to places like San Jose, where they’re typically picked up in 10. So don’t feel too rushed . Once you’ve received an attractive offer from a lender, lock in your rate to avoid paying more if rates rise before you’re ready to buy.

Summary: The Best Mortgage Lenders in Los Angeles

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