Credit: Nate Hovee/Getty Images;Illustration: Issiah Davis/Bankrate
According to the California Association of Realtors, home prices in California are among the most expensive in the nation, with the median home price reaching $823,180 in January 2026. This means that most buyers will need a mortgage to purchase a home.
Just like with a home, you’ll need to shop around several mortgage lenders to find the right loan. By comparing California mortgage lenders, you may be able to get a lower interest rate than if you go with the first lender you find. Here are some of the best lenders in the state.
Best Mortgage Lenders in California
| lender | credit requirements | Minimum down payment amount | Bank rate score* |
|---|---|---|---|
| chase bank | Conventional Loans 620, Jumbo Loans 680, FHA Loans and VA Loans 640 | 3% for conventional loans, 3.5% for FHA loans, and none for VA loans. | 4.9 |
| us bank | 620 for conventional loans, 640 for most FHA loans, and 740 for most jumbo loans (we approve some borrowers with a score of 660) | 3% for conventional loans, 3.5% for FHA loans, and none for VA loans. | 4.8 |
| loan depot | 620 for conventional loans, 660 for jumbo loans, 520 for FHA loans, 520 for VA loans, and 620 for USDA loans. | 3% for conventional loans, 3.5% for FHA loans, none for VA loans, and none for USDA loans. | 4.6 |
| bank of america | Typically 620 for a conventional loan. | Lender’s Affordable Loan Solution 3% for home loans, 3.5% for FHA loans, and none for VA loans. | 4.4 |
| wells fargo | 620 for conventional loans. | 3% for conventional loans, 3.5% for FHA loans, and none for VA loans. | 4.4 |
| *State-specific scoring |
How to find the best mortgage lender in California
The best mortgage lender will ultimately depend on your individual circumstances and what feels “right” to you, but it can be helpful to narrow down your options. Here are some tips:
- Set priorities. Want to speak directly with a loan officer? Need to close faster? Want to track your mortgage application and status through an app? Consider these questions and more when shortlisting lenders.
- obtain Pre-qualification or pre-approval. If you do not have a set budget for purchasing a home, first get a pre-approval for a mortgage loan. This will help you understand how much money your lender will allow you to borrow based on your preliminary financial information. If you’re ready to buy a home, skip the pre-qualification and seek pre-approval, which includes a credit check.
- Ask about first-time buyer and down payment assistance. Many mortgage lenders in California work with the state’s housing finance agencies to provide more affordable home loans and down payment assistance to eligible borrowers. Some programs are available to both first-time and repeat buyers. Compare what different financial institutions offer and how it affects your budget.
California Compliant Loan Limits
Depending on the type of loan you use to purchase your home, conforming loan limits may apply.
- Conventional loan: In some counties, the price of a single unit property in 2026 will be $832,750. In pricier counties like Alameda, Los Angeles, and Marin, prices reach $1,249,125.
- FHA loan: $541,287 is the threshold for single unit real estate in many counties. However, there is a maximum limit of $1,249,125 in expensive counties.
California First Time Home Buyer Program
If you qualify as a first-time homebuyer, meaning you haven’t owned a home in the past three years, find out if you qualify for one of California’s programs designed to make buying a home more affordable. The California Housing Finance Agency, also known as CalHFA, offers a variety of options for low- and moderate-income buyers in its area. You may be eligible for a low-interest loan or deferred loan to cover your down payment and closing costs.
Be sure to also search for municipal housing authority options, as certain cities may offer additional assistance. But don’t wait to start your search. Many of these programs are first-come, first-served, and funding runs out quickly.