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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.

NerdWallet
Jan 7, 2022

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The California Housing Finance Agency, or CalHFA, provides mortgage and assistance programs to help Californians buy their first home.

To take advantage of these loan programs, you’ll have to work with a participating loan officer. But how do you know which lender is right for you?

NerdWallet compared several of CalHFA’s participating lenders, identifying the best ones for a variety of borrower needs so you can start your mortgage search with confidence.

» MORE: Explore California first-time home buyer programs

Best CalHFA Mortgage Lenders

Guaranteed Rate
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at Guaranteed Rate

Guaranteed Rate: NMLS#2611

4.5

NerdWallet rating 
Guaranteed Rate

Min. credit score

620

Min. down payment

3%
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at Guaranteed Rate

Why we like it

Good for: borrowers seeking conventional or government-backed loans, and a totally online experience.

Pros

  • Offers the ability to securely upload and digitally sign loan documents.

  • Displays detailed sample rates for many of its loan products.

Cons

  • Doesn't offer home equity loans or lines of credit.

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New American Funding
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at New American Funding

New American Funding: NMLS#6606

3.5

NerdWallet rating 
New American Funding

Min. credit score

500

Min. down payment

0%
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at New American Funding

Why we like it

Good for: borrowers who need to be evaluated on the basis of nontraditional credit and those interested in various down payment assistance programs.

Pros

  • Uses manual underwriting to evaluate creditworthiness, in some cases.

  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

  • Mortgage origination fees tend to be on the high end, according to the latest federal data.

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loanDepot
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loanDepot: NMLS#174457

3.5

NerdWallet rating 
loanDepot

Min. credit score

620

Min. down payment

5%
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Why we like it

Good for: borrowers looking to refinance or who want to start the application process online.

Pros

  • Offers digital income, asset and employment verification.

  • Offers multiple renovation loan options.

  • Has affiliated loan stores for customers who prefer face-to-face service.

Cons

  • Mortgage rates aren't available online; you'll need to contact a loan officer.

  • Does not offer home equity loans or lines of credit.

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Fairway Independent Mortgage
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at Fairway Independent Mortgage

Fairway Independent Mortgage: NMLS#2289

3.5

NerdWallet rating 
Fairway Independent Mortgage

Min. credit score

620

Min. down payment

3%
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at Fairway Independent Mortgage

Why we like it

Good for: borrowers who want access to a wide variety of mortgages and the convenience of a comprehensive mobile application process.

Pros

  • Offers a robust suite of loan products, including a variety of renovation loans.

  • Has a digital application that can be completed in 10 minutes.

  • Works with some state housing finance agencies to offer mortgages with down payment and closing cost assistance.

Cons

  • Mortgage rates aren't posted online.

  • Origination fees are on the high side and are not offset by low rates, according to the latest data.

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Guild Mortgage
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Guild Mortgage: NMLS#3274

4.0

NerdWallet rating 
Guild Mortgage

Min. credit score

620

Min. down payment

3%
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Why we like it

Good 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 multiple online conveniences, including a full mortgage application, e-signatures and digital loan process tracking.

  • Offers a wide variety of loan products, including home improvement and manufactured home loans.

Cons

  • Does not offer home equity loan products.

  • Origination fees tend to be on the higher end, according to the latest data.

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Homebridge
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Homebridge: NMLS#6521

4.0

NerdWallet rating 
Homebridge

Min. credit score

620

Min. down payment

3%
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Why we like it

Good 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.

  • Has loans for most purposes, including purchase, refinance and jumbo mortgages.

  • Online portal keeps borrowers up-to-date on the loan application's progress.

Cons

  • Doesn't post interest rates on its site.

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Caliber
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Caliber: NMLS#15622

3.0

NerdWallet rating 
Caliber

Min. credit score

580

Min. down payment

0%
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Why we like it

Good for: first-time home buyers, veterans and those who may have credit challenges to overcome.

Pros

  • Offers extensive educational resources for military borrowers.

  • Provides digital tools for a streamlined application process.

  • Participates in some state 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.

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PrimeLending
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PrimeLending: NMLS#13649

3.5

NerdWallet rating 
PrimeLending

Min. credit score

620

Min. down payment

3%
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Why we like it

Good 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 a proprietary closing-cost assistance program.

Cons

  • No online mortgage rates — you have to contact the lender for info.

  • Doesn't offer home equity products.

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Wintrust Mortgage
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Wintrust Mortgage: NMLS#449042

4.5

NerdWallet rating 
Wintrust Mortgage

Min. credit score

620

Min. down payment

3%
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Why we like it

Wintrust 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

  • Online application and progress tracking are available.

  • Offers specialty loans, such as construction and renovation loans.

  • Participates in some first-time home buyer assistance programs.

Cons

  • Sample rates for some loan products are available only by contacting a loan officer.

  • Physical locations aren't available in all states.

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Alterra
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Alterra: NMLS#133739

3.0

NerdWallet rating 
Alterra

Min. credit score

620

Min. down payment

3%
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Why we like it

Good for: first-time home buyers and those with nontraditional incomes.

Pros

  • Offers an ITIN qualification path for borrowers ineligible for Social Security numbers.

  • Has a digital application process.

  • Offers several mortgage options for low- to moderate-income borrowers.

  • Borrowers can qualify with income from self-employment and other nontraditional sources.

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.

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Last updated on January 7, 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