BEST OF

10 Best Los Angeles Mortgage Lenders of 2022

Looking for a Los Angeles mortgage lender? We've researched the city’s top lenders, selecting the best in five categories so you can have a first-rate experience and get the best mortgage rates.

NerdWallet
Jan 6, 2022

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

Los Angeles is home to many different financial institutions. If the idea of sorting through them all to find the right mortgage lender feels overwhelming, don’t worry — NerdWallet can give you a head start. Although they serve borrowers across the country, these lenders are among the most popular mortgage providers in Los Angeles. Whether you’re looking to buy a house in Silver Lake, refinance your Laurel Canyon bungalow or tap the equity in your Echo Park townhouse, these national and local mortgage lenders are a great place to start.

Best Los Angeles Mortgage Lenders

New American Funding
Learn more

at New American Funding

New American Funding: NMLS#6606

4.5

NerdWallet rating 
New American Funding

Min. credit score

620

Min. down payment

3%
Learn more

at New American Funding

Why we like it

Good 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.

Read Full Review
Rocket Mortgage, LLC
Learn more

at Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

4.0

NerdWallet rating 
Rocket Mortgage, LLC

Min. credit score

620

National / regional

National
Learn more

at Rocket Mortgage, LLC

Why we like it

Good for: borrowers who appreciate a fully digital home loan experience with mortgage rates lower than other lenders’.

Pros

  • Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.

  • Mortgage interest rates are on the low side compared to other lenders, according to the latest federal data.

  • Offers the option to work with loan officers by phone if desired.

Cons

  • Getting a customized interest rate requires a credit check, which can affect your credit score.

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

  • Origination fees are on the high side compared with other lenders, according to the latest federal data.

Read Full Review
Guaranteed Rate
Learn more

at Guaranteed Rate

Guaranteed Rate: NMLS#2611

5.0

NerdWallet rating 
Guaranteed Rate

Min. credit score

620

National / regional

National
Learn more

at Guaranteed Rate

Why we like it

Good 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.

Read Full Review
Quicken Loans
Learn more

at Quicken Loans

Quicken Loans: NMLS#3030

4.0

NerdWallet rating 
Quicken Loans

Min. credit score

620

Min. down payment

3%
Learn more

at Quicken Loans

Why we like it

Good for: borrowers who appreciate convenience online and on the go for a fully digital home loan experience with consistently acclaimed customer service.

Pros

  • Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.

  • Estimates the loan amount you’ll qualify for within minutes.

  • Streamlines the online process with document and asset retrieval capabilities, including the ability to edit your preapproval letter.

Cons

  • Getting a customized interest rate requires a credit check, which can affect your credit score.

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

  • Lender fees are on the high side and the fees aren't offset by particularly low mortgage rates, according to the latest data.

Read Full Review
Carrington
Read review

Carrington: NMLS#2600

4.5

NerdWallet rating 
Carrington

Min. credit score

620

Min. down payment

5%
Read review

Why we like it

Good for: first-time home buyers or credit-challenged borrowers interested in government loan products.

Pros

  • Offers multiple low-down-payment loan programs.

  • May consider alternative credit data, such as bank statements.

  • You can view customized rates for purchasing a home and apply online.

Cons

  • Doesn't offer home equity lines of credit.

  • Lender fees are on the high side, according to the latest Federal data.

Read Full Review
Wells Fargo
Read review

Wells Fargo: NMLS#399801

4.5

NerdWallet rating 
Wells Fargo

Min. credit score

620

Min. down payment

3%
Read review

Why we like it

Wells Fargo has a solid selection of mortgage products and offers easy-to-shop rates.

Pros

  • Sample rates clearly posted for various loan products.

  • Offers a wide variety of loan types and products.

  • Mortgage rates tend to be on the low side compared with other lenders, according to the latest federal data.

Cons

  • 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.

  • You’ll have to make contact with the lender to see customized rates.

Read Full Review
Navy Federal
Read review

Navy Federal: NMLS#399807

4.0

NerdWallet rating 
Navy Federal

National / regional

National

Min. down payment

0%
Read review

Why we like it

Good for: military members and their families looking for low-down-payment mortgages.

Pros

  • Offers a wide range of affordable mortgage products, including 0% down payment loans, designed for military members.

  • Offers HELOCs and home equity loans.

  • Offers low rates compared with most lenders, according to the latest federal data.

Cons

  • Website does not provide customized mortgage rates based on credit score or other factors before you apply.

  • Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.

Read Full Review
Flagstar
Read review

Flagstar: NMLS#417490

4.5

NerdWallet rating 
Flagstar

National / regional

National

Max LTV

89%

Min. credit score

680
Read review

Min. credit score

680

Why we like it

Good for: borrowers who want a wide range of choices — not only among mortgage products, but also in the channel they prefer, whether a branch, online or on the phone.

Pros

  • Offers a wide range of loan types and products, including FHA, VA and USDA.

  • Borrowers can apply and track loan status online.

  • Offers customized online rate quotes with monthly payment estimates, including mortgage insurance, when applicable.

Cons

  • Home equity loans are geographically limited.

  • Origination fees are on the high side compared with other lenders, according to the latest federal data.

Read Full Review
Connexus
Read review

Connexus: NMLS#649316

4.0

NerdWallet rating 
Connexus

National / regional

National

Max LTV

N/A

Min. credit score

640
Read review

Min. credit score

640

Why we like it

Connexus boasts low-down-payment conventional loans and makes mortgage rate information readily accessible online, but doesn't offer government-backed mortgages.

Pros

  • Offers a range of fixed-rate and adjustable-rate mortgages in most states.

  • Displays sample rates for its entire array of loan products, and you don't need to provide personal information to get a custom rate quote.

Cons

  • Doesn't offer FHA, VA or USDA loans.

  • Lacks document upload and online loan tracking capabilities.

Read Full Review
Alliant
Read review

Alliant: NMLS#197185

4.5

NerdWallet rating 
Alliant

National / regional

National

Min. down payment

3%
Read review

Why we like it

Good for: first-time home buyers who want to avoid mortgage insurance and prefer a digital application process.

Pros

  • Low- or no-down-payment options with no mortgage insurance.

  • Offers a home equity line of credit, or HELOC.

  • Mortgages are available for non-warrantable condominiums.

Cons

  • Doesn't offer government-backed mortgages, like FHA or VA loans.

  • Mortgage origination fees are on the high side, according to the latest federal data.

Read Full Review

» MORE: See the best California mortgage lenders

Local mortgage lenders in Los Angeles

If you prefer a local mortgage experience, these Los Angeles lenders are among the highest-volume lenders in the city, though NerdWallet hasn’t reviewed them yet.

SCHOOLS FIRST FEDERAL CREDIT UNION

  • Ideal for California school employees and their families.

  • Down payments as low as 3%.

  • Reduced closing costs and fees.

  • Low- or no-mortgage-insurance loan options.

  • Online mortgage application.

  • Multiple Southern California branch locations.

UNION BANK

  • Ideal for borrowers who want affordable loan options.

  • Multiple low-down-payment loans.

  • Loan options with no closing costs and no mortgage insurance.

  • Mobile app available.

  • Multiple branch locations in Los Angeles.

GOLDEN EMPIRE MORTGAGE

  • Ideal for borrowers who need down payment assistance.

  • Offers FHA, HomePath, Home Possible and MyCommunity mortgages.

  • Down payment assistance search tool.

  • Full online loan application.

  • Many California branch locations.

FREMONT BANK

  • Ideal for borrowers who want help comparing loan products.

  • Dedicated loan officers to help you choose the right mortgage.

  • Offers affordable FHA and HomeReady loans, as well as a no-closing-cost option.

  • Free email alerts let you know when rates drop.

  • Digital document upload and application tracking.

PARAMOUNT RESIDENTIAL MORTGAGE GROUP

  • Ideal for borrowers who prefer a homegrown lender.

  • Offers a full selection of loans, including FHA, VA, USDA, home equity loans and reverse mortgages.

  • Connects borrowers with California down payment assistance programs.

  • Headquartered in Corona, California.

More from NerdWallet

How much house can you afford?

Compare California mortgage rates

Calculate your mortgage payment

Last updated on January 6, 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 Los Angeles Mortgage Lenders of 2022