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9 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
By
Last updated on January 6, 2022

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  • 50+ mortgage lenders reviewed and rated by our team of experts.
  • 40+ years of combined experience covering mortgages and financial topics.
  • Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
  • Governed by NerdWallet's strict guidelines for editorial integrity.
NerdWallet's mortgage content, including articles, reviews and recommendations, is produced by a team of writers and editors who specialize in home lending. Their work has appeared in The Associated Press, USA Today, The Washington Post, MarketWatch, Newsweek and many other national, regional and local publications. They have been cited in publications including The Wall Street Journal, and appeared on NerdWallet's "Smart Money" podcast as well as local TV and radio.

Best Los Angeles Mortgage Lenders

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Lender
NerdWallet Rating
Min. credit score
Min. down payment
Learn more
New American Funding

New American Funding: NMLS#6606

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at New American Funding
at New American Funding
Home loans overall
Best for first-time home buyers

580

3%

Learn more
at New American Funding
at New American Funding
Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

Learn more
at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
5.0
/5
Refinancing
Best for refinancing

620

3%

Learn more
at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
Guaranteed Rate

Guaranteed Rate: NMLS#2611

Learn more
at Guaranteed Rate
at Guaranteed Rate
5.0
/5
Refinancing
Best for refinancing

620

3%

Learn more
at Guaranteed Rate
at Guaranteed Rate
Carrington

Carrington: NMLS#2600

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on NerdWallet
3.5
/5
Home loans overall
Best for first-time home buyers

620

5%

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on NerdWallet
Wells Fargo

Wells Fargo: NMLS#399801

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on NerdWallet
4.0
/5
Home loans overall
Best for in-person service

620

3%

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on NerdWallet
Navy Federal

Navy Federal: NMLS#399807

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on NerdWallet
5.0
/5
VA loans
Best for veterans

N/A

0%

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on NerdWallet
Flagstar

Flagstar: NMLS#417490

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on NerdWallet
4.5
/5
Home equity loans
Best for home equity loans

700

3%

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on NerdWallet
Connexus

Connexus: NMLS#649316

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on NerdWallet
4.0
/5
Home equity loans
Best for home equity loans

640

3%

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on NerdWallet
Alliant

Alliant: NMLS#197185

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on NerdWallet
4.5
/5
Home loans overall
Best for customer service

N/A

3%

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on NerdWallet
New American Funding
Learn more
at New American Funding
at New American Funding
New American Funding

New American Funding: NMLS#6606

4.0
Home loans overall
NerdWallet rating
Min. credit score

580

Min. down payment

3%

Why We Like ItGood for: first-time home buyers, military members and self-employed or underrepresented borrowers.
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.
  • Has a program to enable buyers to make cash offers.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Mortgage origination fees tend to be on the high end.
  • Personalized mortgage rates are not available on the website without providing contact information.
Read Full Review
Rocket Mortgage, LLC
Learn more
at Rocket Mortgage, LLC
at Rocket Mortgage, LLC
Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

5.0
Min. credit score

620

National / regional

National

Why We Like ItGood 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 lines of credit.
  • Origination fees are on the high side compared with other lenders, according to the latest federal data.
Guaranteed Rate
Learn more
at Guaranteed Rate
at Guaranteed Rate
Guaranteed Rate

Guaranteed Rate: NMLS#2611

5.0
Min. credit score

620

National / regional

National

Why We Like ItGood for: borrowers seeking a broad menu of loans, including jumbo and interest-only options, renovation loans and government-backed mortgages, as well as home equity lines of credit.
Pros
  • 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.
Cons
  • 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.
Carrington
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on NerdWallet
Carrington

Carrington: NMLS#2600

3.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

5%

Why We Like ItGood for: credit-challenged borrowers interested in government loan products or borrowers with nontraditional credit histories.
Pros
  • Offers multiple low-down-payment loans.
  • Accepts history of bankruptcy, foreclosure and late payments with flexible loan program.
  • Considers borrowers with low credit scores and high debt-to-income ratios.
Cons
  • Fined $5.25 million for misleading customers about pandemic-era payment relief.
  • Doesn't offer home equity lines of credit.
  • Lender fees are on the high side, according to the latest federal data.
Wells Fargo
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Wells Fargo

Wells Fargo: NMLS#399801

4.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItGood for: existing customers of the bank looking for a wide selection of mortgage products, as well as self-employed borrowers and home buyers without Social Security numbers.
Pros
  • 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.
Cons
  • 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.
Navy Federal
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on NerdWallet
Navy Federal

Navy Federal: NMLS#399807

National / regional

National

Min. down payment

0%

Why We Like ItGood 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.
Flagstar
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on NerdWallet
Flagstar

Flagstar: NMLS#417490

4.5
Home equity loans
NerdWallet rating
Max LTV

85%

Min. credit score

700

Why We Like ItGood 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.
Connexus
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on NerdWallet
Connexus

Connexus: NMLS#649316

4.0
Home equity loans
NerdWallet rating
National / regional

National

Max LTV

N/A

Min. credit score

640

Why We Like ItConnexus 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.
Alliant
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on NerdWallet
Alliant

Alliant: NMLS#197185

4.5
Home loans overall
NerdWallet rating
Min. credit score

N/A

Min. down payment

3%

Why We Like ItGood for: eligible borrowers who are open to joining a credit union and want a mortgage from an online lender.
Pros
  • Borrowers can apply entirely online. The lender is also very transparent about what borrowers can expect from the process, including nontraditional customers.
  • Borrowers do not need to become members of the credit union until they’ve reached the closing process, meaning that interested home buyers can apply and get rate offers without committing to membership.
  • Offers customized rate quotes, including a detailed breakdown of estimated closing costs.
Cons
  • Doesn’t offer renovation loans.
  • Joining the credit union adds a step to the application process.

» 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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

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

  • New American Funding: Best for first-time home buyers
  • Rocket Mortgage, LLC: Best for refinancing
  • Guaranteed Rate: Best for refinancing
  • Carrington: Best for first-time home buyers
  • Wells Fargo: Best for in-person service
  • Navy Federal: Best for veterans
  • Flagstar: Best for home equity loans
  • Connexus: Best for home equity loans
  • Alliant: Best for customer service
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