Home Loans in California
From the beaches of San Diego to the Bay Area, NorthStar Funding helps Californians achieve their homeownership dreams. All credit scores welcome — even no score.
California Housing Market
About the California Real Estate Market
California's real estate market remains one of the most dynamic in the nation. From the tech-driven Bay Area to the entertainment hub of Los Angeles, the state offers diverse opportunities for homebuyers. While prices are higher than the national average, various loan programs and down payment assistance can help make homeownership achievable. The market has seen steady appreciation, making California real estate a solid long-term investment. Whether you're looking for a coastal condo, suburban single-family home, or investment property, NorthStar Funding has the expertise to guide you through California's unique lending landscape.
Loan Programs Available in California
We offer a variety of mortgage options to fit your unique situation. All programs welcome borrowers with less-than-perfect credit.
CalHFA Programs
California Housing Finance Agency programs with down payment assistance for first-time buyers.
FHA Loans
Government-backed loans with flexible credit requirements. 500+ credit with 10% down via manual underwriting.
Jumbo Loans
For high-value California properties exceeding conforming loan limits ($766,550+).
Non-QM / Bank Statement
Ideal for self-employed Californians. Use bank statements instead of tax returns.
Check Your Eligibility
See if you qualify for special loan programs with lower down payments and flexible income requirements.
Income Eligibility Checker
HomeReady® & Home Possible® - 3% Down Payment Programs
HomeReady®by Fannie MaeIncome must be ≤80% of Area Median Income (AMI). No geographic restrictions.
Home Possible®by Freddie MacIncome must be ≤80% AMI. Some census tracts have no income limit.
Quick Comparison:
| Feature | HomeReady® | Home Possible® |
|---|---|---|
| Min. Down Payment | 3% | 3% |
| Min. Credit Score | 620 | 620 |
| Income Limit | ≤80% AMI | ≤80% AMI* |
| Homebuyer Education | Required | Required |
*No income limit in designated underserved areas
Why Choose NorthStar Funding in California?
What California Homeowners Say
"NorthStar helped us buy our first home in Silver Lake. They found a bank statement loan that worked with my freelance income when other lenders said no."
Maria & Carlos R.
"As a Navy veteran, NorthStar made my VA loan process seamless. Closed on my Chula Vista home in just 25 days. Highly recommend!"
James T.
"We moved from SF to Elk Grove and NorthStar made it easy. Got way more house for our money and the team understood our timeline perfectly."
The Chen Family
"First-generation homeowner thanks to NorthStar! They helped us navigate FHA requirements and found down payment assistance we didn't know existed."
The Garcia Family
Frequently Asked Questions
What credit score do I need to buy a home in California?
NorthStar Funding welcomes all credit scores in California, starting as low as 500 with FHA loans (10% down). For scores 580+, you may qualify for just 3.5% down. We also offer manual underwriting for borrowers with no credit score or thin credit files.
What are the best mortgage programs available in California?
In California, we offer FHA loans (500+ credit), VA loans (0% down for veterans), conventional loans, jumbo/non-QM loans for high-cost areas, and bank statement loans for self-employed borrowers. CalHFA programs provide additional down payment assistance.
How much is the average home price in California?
The median home price in California is approximately $750K, making it one of the most expensive states. Prices range from $400K in inland areas to over $1.5M in San Francisco and coastal communities.
Are there first-time homebuyer programs in California?
Yes! CalHFA offers several programs including the MyHome Assistance Program with up to 3.5% of the purchase price for down payment. The CalHFA Dream For All program provides up to 20% down payment assistance as a shared appreciation loan.
What are property taxes like in California?
California property taxes are approximately 0.7% of assessed value thanks to Proposition 13, which limits annual increases. However, supplemental taxes and Mello-Roos districts can increase the effective rate in newer developments.
Do I need a jumbo loan in California?
Many California counties have conforming loan limits above the national baseline. In high-cost areas like San Francisco, LA, and San Diego, conforming limits can exceed $1M. For amounts above these limits, NorthStar offers jumbo and non-QM options.
How long does it take to close on a home in California?
The typical closing timeline in California is 30-45 days. In competitive markets like the Bay Area and LA, having a pre-qualification letter from NorthStar can help your offer stand out.
Does NorthStar Funding offer manual underwriting in California?
Yes! We specialize in manual underwriting for California borrowers. This is especially valuable in a high-cost state where borrowers may have non-traditional income or credit situations.
What documents do I need to apply for a mortgage in California?
Typical documents include 2 years of tax returns, recent pay stubs, bank statements, W-2s or 1099s, and ID. For self-employed borrowers, we offer bank statement programs using 12-24 months of deposits instead of tax returns.
Can self-employed borrowers get a mortgage in California?
Absolutely! Our bank statement loan programs are very popular in California, especially in Los Angeles, San Francisco, and the tech hubs where many borrowers are entrepreneurs, freelancers, or gig workers.
NorthStar Funding Licensing Information
NMLS #: 123456
Licensed in: CA-DBO, CA-DRE
Years in Business: 15+
Total Loans Originated: $2B+
Ready to Get Started?
See your options in minutes with no impact to your credit score. Our team is ready to help you find the right loan for your California home.