BEST OF

10 Best Los Angeles Mortgage Lenders of 2021

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.

NerdWalletJan 29, 2021
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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.

Summary of Best Los Angeles Mortgage Lenders of 2021

Rocket Mortgage by Quicken Loans
Learn more

at Rocket Mortgage by Quicken Loans

Rocket Mortgage by Quicken Loans: NMLS#3030

4.5

NerdWallet rating 
Rocket Mortgage by Quicken Loans

Min. Credit Score

620

National / Regional

National
Learn more

at Rocket Mortgage by Quicken Loans


Why we like it

Good for: refinance borrowers who want a fully digital home loan experience powered by Quicken Loans.

Pros

  • Offers conventional and government-backed refinance mortgages.

  • Customized loan recommendations based on refinance goals.

  • Offers document and asset retrieval capabilities.

Cons

  • If you’re a “look me in the eye” type of customer, you’re out of luck.

  • Getting a customized interest rate requires a credit check, which can lower your credit score by a few points.

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: homeowners who are looking to refinance conventional, FHA or VA mortgages.

Pros

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

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

Cons

  • May charge an application fee.

Read Full Review
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: 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.

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

Cons

  • Mortgage rates offered to borrowers are higher than the government-reported median of all lenders.

Read Full Review
Quicken Loans
Learn more

at Quicken Loans

Quicken Loans: NMLS#3030

4.5

NerdWallet rating 
Quicken Loans

Min. Credit Score

620

Min. Down Payment

3%
Learn more

at Quicken Loans


Why we like it

Good for: borrowers looking for just about all of the services your neighborhood lender offers — with online convenience.

Pros

  • Quicken Loans couples a fully online application with available mortgage advisors for those who want a human touch.

  • Instantly verifies employment and income for many working Americans.

  • Offers custom fixed-rate loan terms that are between eight and 30 years.

  • Provides a wide variety of loan types, including renovation loans and all government-backed mortgage products.

Cons

  • Quicken Loans doesn't offer home equity loans or HELOCs.

  • Quicken's lender fees can be stout and it doesn't offset those fees with particularly low mortgage rates.

Read Full Review

Carrington: NMLS#2600

3.0

NerdWallet rating 
Carrington

Min. Credit Score

620

Min. Down Payment

3%

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, like bank statements and rent payments.

Cons

  • To get sample rates, you'll have to speak with a loan officer.

  • Doesn't offer home equity loans or HELOC.

Read Full Review

Wells Fargo: NMLS#399801

5.0

NerdWallet rating 
Wells Fargo

Min. Credit Score

620

Min. Down Payment

3%

Why we like it

Wells Fargo has a world-class selection of mortgage products and offers competitive, easy-to-shop rates.

Pros

  • Provides numerous online conveniences, including loan application and process updates.

  • Current rates clearly posted for various loan products.

  • Offers a wide variety of loan types and products.

Cons

  • New applications for home equity lines of credit suspended during COVID-19 crisis.

  • Government actions and scandals have damaged consumer trust in recent years.

Read Full Review

Navy Federal: NMLS#399807

4.5

NerdWallet rating 
Navy Federal

National / Regional

National

Min. Down Payment

0%

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 designed for military members.

  • Has an online application for preapproval.

  • Offers low rates compared with most lenders.

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: NMLS#417490

5.0

NerdWallet rating 
Flagstar

National / Regional

National

Max LTV

89%

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.

  • Has a full suite of online conveniences.

  • Does well with rate transparency, and monthly payment estimates add mortgage insurance, when applicable.

Cons

  • Home equity lending is geographically limited.

Read Full Review

Connexus: NMLS#649316

4.0

NerdWallet rating 
Connexus

National / Regional

National

Max LTV

N/A

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: NMLS#197185

4.5

NerdWallet rating 
Alliant

National / Regional

National

Min. Down Payment

3%

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.

  • Mortgages are available for non-warrantable condominiums.

Cons

  • Does not offer government-backed mortgages, like FHA and VA loans.

  • Does not offer renovation mortgages.

Read Full Review

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 29, 2021

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 2021