Best of
Best San Diego Mortgage Lenders of 2019
NerdWalletJuly 2, 2019
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Shopping for San Diego mortgage lenders? Compare our picks for the city’s top mortgage companies to get the best loan options, mortgage rates and more.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for those who appreciate the full-service experience of a leading regional bank. Flagstar offers a full menu of fixed and adjustable home loans and mortgage refinancing, as well as jumbo loans and home equity financing.
Pros
- Embraces FHA-backed home loans.
- Offers three construction loan offerings.
- A professional loan package is tailored for the needs of doctors, lawyers, architects and certified public accountants.
- Flagstar reps are familiar with low-down-payment state bond programs for first-time home buyers and income-limited households, as well as the areas that qualify for USDA loans.
- Offers home equity loans and home equity lines of credit.
Cons
- Charges an average $1,000 origination fee.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers with a relatively high credit score who may need down payment assistance or help from a state housing agency.
Pros
- Works with loan programs offered by state and local housing agencies.
- Specializes in mortgages for first-time home buyers.
- Almost half of its loans are low-down-payment government mortgages.
- Considers alternative credit, such as history of payments on rent and utilities.
Cons
- With a concentration of offices in the West and South, Guild has little presence in the Northeast and Midwest.
- Jumbo borrowers may find that banks are more competitive when it comes to large-amount loans.
at Quicken Loans
at Quicken Loans
Min. Credit Score
620
Min. Down Payment
3%
Ideal choice for convenience and quick-response customer service. Quicken Loans provides just about all the services your neighborhood lender does — 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 more than 60% of working Americans.
- Offers custom fixed-rate loan terms that are between eight and 30 years.
- Provides FHA-backed loans, USDA loans as well as products offered by Freddie Mac and Fannie Mae that require down payments as low as 3%.
Cons
- Doesn't offer home equity loans or HELOCs.
- If you’re a “look me in the eye” type of customer, you’re out of luck.
- Doesn’t consider alternative credit data. It just looks at credit scores and debt-to-income ratios, the way most mortgage lenders always have.
National / Regional
National
Min. Down Payment
3%
Ideal for borrowers who want lots of options and a quick turn time. Fairway Independent Mortgage offers a full selection of home loans along with a comprehensive mobile app for a fast and easy application process.
Pros
- A robust suite of loan products.
- Licensed in all 50 states.
- Close in as little as 10 days using the Fairway app.
Cons
- Limited branch locations.
- Mortgage rates not posted on website.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for first-time home buyers, veterans and those who may have credit challenges to overcome.
Pros
- Participates in some down payment assistance programs.
- Offers educational resources for military borrowers.
- Provides digital tools for a streamlined application process.
Cons
- No mortgage rates displayed online.
- Must work with a loan officer for pre-qualification and preapproval.
at loanDepot
at loanDepot
Min. Credit Score
620
Min. Down Payment
3.5%
Ideal for borrowers looking to get a mortgage with help from a loan officer. Digital back-office operations are said to add efficiency to the loan process.
Pros
- Offers digital income, asset and employment verification.
- Has over 150 affiliated loan stores nationwide for customers who prefer face-to-face service.
- One of the nation’s most active lenders of FHA and VA loans.
Cons
- Published mortgage rates include up to three points of prepaid interest and fees.
- Does not offer home equity loans or lines of credit.
National / Regional
National
Min. Down Payment
0%
Ideal for military members and their families. Navy Federal Credit Union offers a wide range of mortgage products, an online application and considers alternative credit data for certain loan types.
Pros
- Wide range of affordable mortgage products designed for military members.
- Willing to look at nontraditional credit data, such as rent payments, as part of its credit evaluation for certain products.
- Lower minimum loan amounts than many other lenders.
- Online application for preapproval with quick decision.
- $1,000 mortgage rate match program.
- Operates nationwide.
Cons
- Charges application and underwriting fees.
- Origination charge on a typical conventional loan is 1% of the loan amount.
Min. Down Payment
5%
National / Regional
Regional
San Diego County Credit Union is ideal for borrowers who want a conventional loan, and live or work in San Diego County.
Pros
- Online loan application and rate tracking.
- Customized rates available without personal info.
- Down payments as low as 5%.
- Offers partial rebates on real estate agent commissions.
Cons
- No FHA, VA or USDA home loans.
- Can't digitally sign loan documents.
- Online preapproval not available for all loan products.
Min. Credit Score
620
Min. Down Payment
3%
Ideal for borrowers who prefer a traditional bank. Bank of America offers a wide array of mortgages and online account management tools. It also has first-time home buyer loans with low down payments and no mandatory mortgage insurance.
Pros
- Allows borrowers to apply entirely online.
- Offers down payment and closing cost assistance programs.
- Accepts alternative credit data for some loan types.
- May give existing customers a discount on mortgage lender origination fees.
Cons
- Charges an application fee of $1,170, on average.
- Has a high volume of consumer complaints, even for a big national bank.
at Chase
at Chase
Min. Credit Score
620
Min. Down Payment
3%
Ideal for first-time home buyers who want to talk to a loan officer in person or on the phone, and for homeowners who want to refinance their mortgages in 60 days or less. Chase offers a full line of mortgage products and account management tools.
Pros
- Allows electronic submission and tracking of documents.
- Existing Chase customers can get discounts.
- Offers a wide selection of purchase and refinance mortgages.
Cons
- Charges rate lock, origination and underwriting fees.
- You have to speak with a mortgage banker to get complete info on products and requirements.
Summary of Best San Diego Mortgage Lenders of 2019
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
 Flagstar | first-time home buyers | 620 | 3% | Read review |
 Guild Mortgage | first-time home buyers | 620 | 3% | Read review |
Quicken Loans at Quicken Loans | a digital mortgage experience | 620 | 3% | at Quicken Loans |
 Fairway | a digital mortgage experience | N/A | 3% | Read review |
 Caliber | veterans | 620 | 3% | Read review |
loanDepot at loanDepot | home equity loans | 620 | 3.5% | at loanDepot |
 Navy Federal | a credit union mortgage | N/A | 0% | Read review |
 San Diego Country Credit Union | a credit union mortgage | N/A | 5% | Read review |
 Bank of America | face-to-face service | 620 | 3% | Read review |
Chase at Chase | face-to-face service | 620 | 3% | at Chase |
| Lender | Best For | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Flagstar | first-time home buyers | 620 | 3% | Read review |
Guild Mortgage | first-time home buyers | 620 | 3% | Read review |
Quicken Loans at Quicken Loans | a digital mortgage experience | 620 | 3% | at Quicken Loans |
Fairway | a digital mortgage experience | N/A | 3% | Read review |
Caliber | veterans | 620 | 3% | Read review |
loanDepot at loanDepot | home equity loans | 620 | 3.5% | at loanDepot |
Navy Federal | a credit union mortgage | N/A | 0% | Read review |
San Diego Country Credit Union | a credit union mortgage | N/A | 5% | Read review |
Bank of America | face-to-face service | 620 | 3% | Read review |
Chase at Chase | face-to-face service | 620 | 3% | at Chase |
Local mortgage lenders in San Diego
The following lenders have not been reviewed by NerdWallet. However, they do a significant volume of mortgage lending in San Diego and are popular among the city’s mortgage shoppers. Check them out if you prefer to include a local lender or two in your search for the best mortgage.
Union Bank
- Several low-down-payment loans.
- Loan options with no closing costs and no mortgage insurance.
- Mobile app available.
- Multiple branch locations in San Diego.
CrossCountry Mortgage
- Pre-qualification requires a phone call with a loan officer.
- Loan programs for foreign nationals and self-employed borrowers.
- Will finance all types of condos.
- Several branch locations in and around San Diego.
Bay Equity Home Loans
- Conventional, government and jumbo loan options.
- Offers refinancing and reverse mortgages.
- Only one branch location in San Diego.
AIMLoan (American Internet Mortgage)
- Website provides instant customized rate quotes.
- Offers 3% down conventional loans.
- Claims to charge a flat, guaranteed lender fee.
More from NerdWallet
Last updated on July 2, 2019
Methodology
NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.
To recap our selections...
NerdWallet's Best San Diego Mortgage Lenders of 2019
- Flagstar: Best for first-time home buyers
- Guild Mortgage: Best for first-time home buyers
- : Best for a digital mortgage experience
- Fairway: Best for a digital mortgage experience
- Caliber: Best for veterans
- : Best for home equity loans
- Navy Federal: Best for a credit union mortgage
- San Diego Country Credit Union: Best for a credit union mortgage
- Bank of America: Best for face-to-face service
- : Best for face-to-face service
