8 Best CalHFA Mortgage Lenders of 2023
CalHFA loan programs help you purchase a home in California with down payment and closing cost assistance. See our picks for CalHFA participating lenders.
Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.
The California Housing Finance Agency (CalHFA), provides mortgage and assistance programs to help those in California buy their first home. Anyone who hasn’t owned and occupied their own home in the past three years is considered a first-time buyer.
To take advantage of these loan programs, you’ll have to work with a participating loan officer. NerdWallet compared more than 50 lenders and identified the top-rated banks and mortgage companies that participate in CalHFA loan programs. When reaching out to a lender, ask for a loan officer who is trained to process CalHFA loans.
Best CalHFA Mortgage Lenders
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620 | 3% | Top 3 most visited 🏆 Learn moreat Guaranteed Rateat Guaranteed Rate | ||
 New American Funding: NMLS#6606 Top 3 most visited 🏆 Learn moreat New American Fundingat New American Funding | 580 | 0% | Top 3 most visited 🏆 Learn moreat New American Fundingat New American Funding | |
620 | 3% | |||
620 | 5% | |||
620 | 3% |
Guaranteed Rate: NMLS#2611
620
3%
- Offers a one-day mortgage approval process.
- Offers a generous selection of loans, including government-backed, interest-only, ITIN, jumbo, and renovation loans.
- Advertises a HELOC that can be funded in as few as five business days.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
- Origination fees are higher than average, according to the latest federal data.
- HELOC has a relatively short draw period, which may not provide flexibility for someone who wants the option of accessing home equity over a longer period.
- Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
- Its home equity line of credit can be used for an owner-occupied or second home.
- Offers a program to enable buyers to make cash offers.
- Mortgage origination fees tend to be on the high end, according to the latest federal data.
Wintrust Mortgage: NMLS#449042
620
3%
- Offers specialty loans, such as construction and renovation loans and loans for second homes and investment properties.
- Participates in first-time home buyer assistance programs in Illinois, Indiana and Wisconsin.
- Sample rates for some loan products are available only by contacting a loan officer.
- Physical locations aren't available in all states.
- Offers a variety of repayment terms.
- Online loan calculator lets borrowers compare monthly payments and lifetime interest.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
- No sample interest rates are provided.
- Origination fees are on the higher end, according to the latest federal data.
- Lender’s website does not have a live chat feature.
- Multiple loans for those who are renovating or building a home, including loans with interest-only payments during construction.
- Offers home equity loans and lines of credit.
- Offers down payment assistance and loans for underserved borrowers, including ITIN loans and loans with flexible qualifications in certain communities.
- Interest rates are on the low side relative to other lenders, according to the latest federal data.
- Borrowers can enter their information (including their desired loan amount, down payment and zip code) into the lender’s Mortgage Quote Comparison tool and receive a customized rate quote.
- Home equity loans are not available in all locations served by Flagstar.
- In 2022, the lender was fined for violating laws regarding properties in flood zones.
Freedom Mortgage: NMLS#2767
620
3%
- Offers conventional, FHA, VA, USDA and jumbo loans.
- Multiple customer service options, including brick-and-mortar branches, online message center and phone.
- Low average mortgage interest rates, according to the latest federal data.
- No mortgage rates displayed online.
- Fined $1.75 for illegal kickbacks to real estate agents and brokers for loan referrals.
- Origination fees are on the high side, according to the federal latest data.
Northpointe: NMLS#447490
620
3%
- Offers government-backed FHA and VA loans, including refinancing options, and USDA loans.
- Jumbo loans available for vacation homes and investment properties.
- Offers programs for borrowers with credit challenges, self-employed borrowers and professionals early in their careers who may still carry significant debt.
- You’ll need to provide contact information or speak to a loan officer for customized mortgage rates.
- Origination fees are on the high side, according to the latest federal data.
- Doesn’t offer home equity loans or lines of credit.
Wells Fargo: NMLS#399801
620
3%
- Sample rates clearly posted for various loan products.
- Offers a wide variety of loan types and products, including options for borrowers who work for themselves and those without Social Security numbers.
- Mortgage rates tend to be on the low side compared with other lenders, according to the latest federal data.
- Home loans business is broadly focused on bank customers.
- Doesn’t offer home improvement loans, or home equity loans or lines of credit.
- Scandals and government actions have damaged consumer trust in recent years.
More from NerdWallet
Last updated on July 12, 2023
Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the average interest rate and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet mortgages team. Lenders listed on this page participate in the CalHFA program and earned at least 4 out of 5 stars in NerdWallet's rating.
NerdWallet's Best CalHFA Mortgage Lenders of 2023
- Guaranteed Rate: Best for online experience
- New American Funding: Best for veterans
- Wintrust Mortgage: Best for variety of loan types
- loanDepot: Best for fixer-uppers
- Flagstar: Best for first-time home buyers
- Freedom Mortgage: Best for FHA loans
- Northpointe: Best for online experience
- Wells Fargo: Best for first-time home buyers
