Best of

10 Best CalHFA Mortgage Lenders of 2022

CalHFA loan programs help you purchase a home in California with down payment and closing cost assistance. See our picks for CalHFA participating lenders.

By
NerdWallet
Oct 4, 2022

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.

Best CalHFA Mortgage Lenders

Lender
NerdWallet Rating
Min. credit score
Min. down payment
Learn more
Alterra

Alterra: NMLS#133739

Read review
3.0/5
Best for nonbank

620

3%

Caliber

Caliber: NMLS#15622

3.5/5
Best for veterans

580

0%

3.5/5
Best for nonbank

620

3%

Learn moreat Fairway Independent Mortgageat Fairway Independent Mortgage
Guaranteed Rate

Guaranteed Rate: NMLS#2611

5.0/5
Best for online experience

620

3%

Guild Mortgage

Guild Mortgage: NMLS#3274

3.5/5
Best for online experience

620

3%

Homebridge

Homebridge: NMLS#6521

3.5/5
Best for low credit

620

3%

loanDepot

loanDepot: NMLS#174457

4.0/5
Best for low credit

620

5%

New American Funding

New American Funding: NMLS#6606

Learn moreat New American Fundingat New American Funding
4.5/5
Best for veterans

500

0%

Learn moreat New American Fundingat New American Funding
PrimeLending

PrimeLending: NMLS#13649

3.5/5
Best for fixer-uppers

620

3%

Wintrust Mortgage

Wintrust Mortgage: NMLS#449042

4.5/5
Best for fixer-uppers

620

3%

Alterra
Read review
Alterra

Alterra: NMLS#133739

3.0
Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: first-time home buyers and those ineligible for Social Security numbers.
Pros
  • Offers an ITIN qualification path for borrowers ineligible for Social Security numbers.
  • Has a digital application process.
  • Offers government-backed mortgage options for low- to moderate-income borrowers.
Cons
  • No mortgage rates published online.
  • No home equity loans or lines of credit.
  • Generally has higher rates and fees than other lenders.
  • Branch offices not available in all states.
Caliber

Caliber: NMLS#15622

Min. credit score

580

Min. down payment

0%

Why We Like ItGood for: first-time home buyers, veterans and those who may have credit challenges to overcome.
Pros
  • Offers extensive educational resources for military borrowers.
  • Participates in some down payment assistance and first-time home buyer programs.
Cons
  • No mortgage rates displayed online.
  • Doesn’t offer home equity loans or lines of credit.
Why We Like ItGood for: borrowers who want access to a wide variety of mortgages, including renovation loans and ITIN loans.
Pros
  • Offers a robust suite of loan products, including ITIN loans for borrowers without Social Security numbers, renovation loans, government-backed mortgages and loans for self-employed borrowers.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Mortgage rates for different types of loans aren't posted online.
  • Origination fees are on the high side compared with other lenders, according to the latest federal data.
Guaranteed Rate

Guaranteed Rate: NMLS#2611

Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: borrowers seeking a solid variety of loan types, including jumbo and interest-only options, and a totally online experience.
Pros
  • Displays detailed sample rates for many of its loan products.
  • Offers a wide variety of loans, including jumbo and interest-only products.
  • Offers low rates compared with other lenders, according to the latest federal data.
Cons
  • Doesn't offer home equity loans.
Guild Mortgage

Guild Mortgage: NMLS#3274

Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: borrowers who value customer service, and first-time home buyers and others who may need the flexibility of a low-down-payment loan program.
Pros
  • Offers a wide variety of loan products, including home improvement loans and mortgages for manufactured homes.
  • Has retail branches in most states.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Does not offer home equity loan products.
  • Origination fees tend to be higher, according to the latest federal data.
Homebridge

Homebridge: NMLS#6521

Min. credit score

620

Min. down payment

3%

Why We Like ItGood for borrowers who want a loan officer's help, in person or on the phone, when deciding among the wide range of available mortgage options — including loans to buy and renovate.
Pros
  • Offers a full array of mortgage products, including government and renovation loans.
  • Online portal keeps borrowers up to date on the loan application's progress.
  • Offers home equity lines of credit, or HELOCs.
Cons
  • Doesn't post interest rates on its site.
  • Lender fees are on the high side, according to the latest federal data.
loanDepot

loanDepot: NMLS#174457

Min. credit score

620

Min. down payment

5%

Why We Like ItGood for: borrowers who want an easy online application and a variety of loan types to explore.
Pros
  • Has branches across the country for customers who prefer face-to-face service.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
  • Mortgage interest rates tend to be on the lower end, according to the latest federal data.
Cons
  • Mortgage rates aren't available online; you'll need to contact a loan officer.
  • Doesn't offer home equity loans or lines of credit.
New American Funding
Learn moreat New American Fundingat New American Funding
New American Funding

New American Funding: NMLS#6606

Min. credit score

500

Min. down payment

0%

Learn moreat New American Fundingat New American Funding
Why We Like ItGood for: First-time home buyers and other borrowers looking for a broad array of loan choices.
Pros
  • 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.
Cons
  • Mortgage origination fees tend to be on the high end, according to the latest federal data.
PrimeLending

PrimeLending: NMLS#13649

Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: borrowers looking for closing cost assistance, as well as those seeking to renovate or to build a new home.
Pros
  • Full online application includes document uploads and automated loan updates.
  • Offers a "float-down" interest rate lock.
  • Offers government-backed mortgage and refinance options, including FHA, USDA and VA loans.
Cons
  • No online mortgage rates — you have to contact the lender for info.
  • Doesn't offer home equity products.
Wintrust Mortgage

Wintrust Mortgage: NMLS#449042

Min. credit score

620

Min. down payment

3%

Why We Like ItWintrust Mortgage offers a variety of loan products, including home equity lines of credit and even home-improvement loans, and provides a number of online conveniences, such as loan process updates. But you won’t find rates posted online.
Pros
  • 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.
Cons
  • Sample rates for some loan products are available only by contacting a loan officer.
  • Physical locations aren't available in all states.

More from NerdWallet

Last updated on October 4, 2022

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 rate spread 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.

To recap our selections...

NerdWallet's Best CalHFA Mortgage Lenders of 2022

  • Alterra: Best for nonbank
  • Caliber: Best for veterans
  • Fairway Independent Mortgage: Best for nonbank
  • Guaranteed Rate: Best for online experience
  • Guild Mortgage: Best for online experience
  • Homebridge: Best for low credit
  • loanDepot: Best for low credit
  • New American Funding: Best for veterans
  • PrimeLending: Best for fixer-uppers
  • Wintrust Mortgage: Best for fixer-uppers
NerdWallet Pixel