Mortgage broker serving Monterey Park, CA, offering a full range of loan programs - purchases, refinancing, investment properties, FHA, VA, jumbo, DSCR, bank statement loans, down payment assistance, and more. Personalized programs for your unique situation. 40+ years California mortgage experience.
Schedule a quick 15-minute call and we'll match you to the right program and give you the best rate for your unique situation.
We as brokers shop hundreds of lenders for you. Banks offer their own limited products.
As mortgage specialists serving Monterey Park buyers, we match your unique situation to the right program.
In Monterey Park's market, the right loan program can save thousands over the life of your mortgage.
We've spent 40+ years solving these exact challenges.
We're here to help match you with the perfect loan program for your Monterey Park purchase.
SCHEDULE FREE CONSULTATION"For over 30 years, A Good Lender has been a trusted and essential part of my family's financial journey, guiding us through more than a dozen mortgage financing transactions with professionalism, integrity and care. What sets A Good Lender apart is their reliability and ability to demystify the mortgage process."
"Rodney Roloff & The Team at A Good Lender made my house buying process a breeze. Rodney helped me to better understand the loan process and walked me through everything step by step. If your looking for a good lender. One who will help you get the best rate. I highly recommend reaching out to Rodney and his team at 'A good lender'"
"From our first home buying experience, to exploring HELOC options, and refinancing, every step we were supported with clear and accurate information. A team who's knowledgeable, prompt to respond to any questions, and who genuinely cares for their clients is a rare find in this industry."
We've simplified the mortgage maze into four clear steps. No surprises, just results.
Complete your loan application online and upload your documents. We'll review everything to make sure it's complete before submitting to our lending partners.
We submit your application to our lending partners. Their underwriters review your documents, verify your income and credit, and issue your loan approval.
Sign your final documents, get your keys, and move into your Monterey Park home. We coordinate everything to make closing day smooth and stress-free.
Finding the right home loan in Monterey Park starts with understanding your options. We've streamlined hundreds of mortgage programs into 8 clear categories for Monterey Park home buyers—covering purchase loans, refinance, commercial real estate, and specialized financing like bank statement and jumbo loans. Explore the general programs to compare down payment options and requirements, or apply now for a custom financing solution tailored to your Monterey Park property.
Whether you're buying your first condo or a $3M estate, we offer comprehensive financing solutions with 14-day closings. Explore our complete range of purchase loan programs below.
Refinance to lower your interest rate, shorten your loan term, or access home equity for renovations, debt consolidation, or investment opportunities. Explore all refinance programs below.
Finance commercial real estate, owner-occupied buildings, or business expansions. Explore all commercial financing programs below.
Finance new construction, renovations, or land purchases. Explore all construction and renovation programs below.
From condos and townhomes to multi-family buildings and unique property types. Explore all specialized property financing programs below.
We specialize in complex financing scenarios where traditional loans don't fit. Explore all niche programs below.
Access California's down payment assistance programs. Explore all DPA programs below.
Self-employed professionals, freelancers, and business owners. Explore all special income documentation programs below.
Speed & Certainty
Whether you're buying your first condo or a $3M estate, we offer comprehensive financing solutions with 14-day closings. Explore our complete range of purchase loan programs below.
Rate & Term, Cash-Out
Refinance to lower your interest rate, shorten your loan term, or access home equity for renovations, debt consolidation, or investment opportunities. Explore all refinance programs below.
SBA 504 & 7(a)
Finance commercial real estate, owner-occupied buildings, or business expansions. Explore all commercial financing programs below.
Build & Improve
Finance new construction, renovations, or land purchases. Explore all construction and renovation programs below.
Specialized Properties
From condos and townhomes to multi-family buildings and unique property types. Explore all specialized property financing programs below.
Complex Scenarios
We specialize in complex financing scenarios where traditional loans don't fit. Explore all niche programs below.
CalHFA & Local DPA
Access California's down payment assistance programs. Explore all DPA programs below.
Alternative Documentation
Self-employed professionals, freelancers, and business owners. Explore all special income documentation programs below.
Popular loan programs for Monterey Park homebuyers. Compare options and find your best fit.
| Loan Type | Down Payment | Credit Score | Best For |
|---|---|---|---|
| No Down Payment Program Featured | $0 (3.5% grant) | 580+ | Any buyer - grant covers FHA or Conventional down payment, forgiven after 6 payments |
| Conventional | 3-20% | 620+ | Good credit, stable income. Max: $1,249,125 |
| FHA | 3.5% minimum | 580+ | First-time buyers with limited savings |
| VA | $0 | No minimum | Veterans, active military, surviving spouses |
| Jumbo | 15-20% | 680+ | Properties exceeding $1,249,125 |
| Bank Statement | 10-20% | 660+ | Self-employed buyers who write off business expenses |
| DSCR | 20-25% | 660+ | Rental income properties, real estate investors |
| Reverse Mortgage | N/A | No minimum | Homeowners 62+ tapping equity without payments |
Questions? Call (510) 589-4096 or email info@agoodlender.com
Standard option for Monterey Park buyers. Most homes under $1.25M with competitive rates.
Strong FHA option in Monterey Park. Low down payment gets you into most properties here.
$0 down for Monterey Park veterans. VA loans cover all properties with no PMI required.
Monterey Park business owners qualify on deposits. Tax write-offs reduce income on paper. Bank statements show reality.
CalHFA programs popular in Monterey Park. State assistance helps with down payment and closing costs.
Premium Monterey Park homes over $1.25M require jumbo loans. Less common but available for luxury properties.
Monterey Park sellers can buy first with bridge loans. Short-term financing until sale closes.
LLC financing options for Monterey Park investors. Buy rentals in entity names.
Conforming refinance for Monterey Park homeowners. Best rates for loans under $1.25M.
FHA streamline refinance for Monterey Park. Easiest way to lower your existing FHA rate.
VA streamline refi for Monterey Park veterans. Fastest way to reduce your mortgage payment.
Turn Monterey Park home equity into cash. Refinance at competitive rates for home improvements or debt.
HELOC available for Monterey Park homeowners. Access equity without replacing first mortgage.
Monterey Park owners can get home equity loans. Fixed rate for predictable payments.
DSCR loans work for Monterey Park investment properties. Cash flow analysis replaces income docs.
Fix-and-flip available for Monterey Park projects. Short-term financing for value-add investments.
Multifamily options for Monterey Park investors. Finance apartment buildings with commercial loans.
Monterey Park investors use hard money for quick closes. Higher rate but fast funding.
Buy a home with zero down payment. Our lenders cover your entire down payment through grant programs. No repayment required. Available for Monterey Park buyers with qualifying income.
CalHFA programs popular in Monterey Park. State assistance helps with down payment and closing costs.
Monterey Park has local down payment programs. Combine with CalHFA for maximum assistance.
Elite grant available for Monterey Park buyers. Down payment assistance with no repayment.
Monterey Park family sales can use gift of equity. Equity difference becomes down payment.
Add a co-borrower for Monterey Park purchases. Family member income boosts qualification.
Every situation is unique. The right loan program depends on your unique situation. See what works best for you.
Questions? Call (510) 589-4096 or email info@agoodlender.com
Monterey Park sits just 7 miles east of downtown LA in the San Gabriel Valley. Population is 30,007, median household income $98,003. The homeownership rate here is 35.6%, way below the California average at 55%, which tells you this is primarily a rental market with fierce competition for the homes that do come up for sale. At $860K median home price, you're looking at needing roughly $120K-$170K down for a conventional loan, or about $172K for a 20% down payment to avoid PMI. This is one of the priciest markets in the San Gabriel Valley, but you're paying for location and the 15-minute commute to downtown LA.
Mark Keppel High School is the main draw here, pulling a solid 8 rating and consistently ranking among the better public high schools in LA County. Alhambra High also serves parts of the city with a 7 rating. For elementary, Monterey Highlands Elementary scores an 8, Brightwood Elementary a 7, and Garvey Intermediate a 6. These scores matter when you're dropping $860K on a home because families will pay a premium to stay in these attendance zones, which protects your resale value. The schools are a big reason that low 35.6% homeownership rate stays competitive. When a house hits the market here, you'll often see multiple offers from families trying to lock in these school boundaries.
Here's the thing about Monterey Park: it's small and there isn't huge price variation between neighborhoods. Downtown Monterey Park centers on Garvey Avenue, running around $860K median, and you're buying into one of the most established Chinese-American communities in the country. The restaurant and retail scene is incredible if you know what you're looking for. Monterey Highlands in the northern hills also runs about $860K but you're trading walkable commercial access for hillside views and slightly larger lots. Both areas work fine with conventional loans if you've got the down payment and income to qualify. The real challenge isn't the loan type, it's the competition. That 35.6% ownership rate means inventory stays tight and you'll need to move fast when something comes available.
The commute situation is what you're really paying for at $860K. You're 15 minutes to downtown LA, 32 minutes to Santa Monica, 30 minutes to Long Beach, 50 minutes to Irvine. No major freeway runs directly through town, but you've got quick access to the 10, 60, and 710. Local transit connects you to the Metro system. If you work in downtown LA or Pasadena, this location can save you 10-15 hours a week compared to living in more affordable Inland Empire cities. When you're underwriting that mortgage payment, factor in what your time is worth. The difference between a 15-minute commute and a 90-minute commute adds up to about 600 hours a year.
The local employment base is anchored by public sector jobs through Monterey Park City Government, Garvey School District, and Alhambra Unified School District. Garfield Medical Center nearby adds healthcare jobs. But real talk, most buyers here work elsewhere in the LA basin and choose Monterey Park for the location and community, not local employment. The city's economy runs on small businesses, especially the restaurant and retail corridor that's become a destination for the entire region. The Asian-American business community here is one of the most established in California. That commercial stability matters because it keeps the city's tax base healthy, which affects everything from schools to infrastructure to long-term property values.
Common questions from Monterey Park homebuyers and refinance clients. Can't find your answer? Book a 15-minute call with a Senior Loan Officer.
Pre-approval typically takes 24-72 hours. Full underwriting approval takes 14-21 days. We work with lenders offering express underwriting for strong borrowers who need faster closings.
Standard documents needed: pay stubs (last 30 days), W-2s (past 2 years), tax returns (past 2 years), bank statements (past 2 months), and photo ID. Self-employed borrowers need business tax returns and P&L statements. We'll provide a complete checklist for your situation.
Typical Monterey Park closing timeline: 30-45 days from accepted offer. VA/FHA loans may take slightly longer. Cash buyers close in 7-14 days. We work to meet your timeline and coordinate with all parties to close on schedule.
You have several low down payment options in Monterey Park: Conventional (3% down), FHA (3.5% down), VA (0% for veterans), and our 6-Month Forgivable Grant Program covering your entire down payment. Many Monterey Park buyers purchase with 3.5% or less down.
Our No Money Down program offers $0 down payment for qualified Monterey Park buyers. We also offer our 6-Month Forgivable Grant (covers 3-3.5% down, forgiven after 6 months), CalHFA programs, and local first-time buyer assistance. Unlike CalHFA's 5-year requirements, our programs have no income limits and no first-time buyer requirement.
Yes! Zero-down options for Monterey Park buyers include: VA loans (eligible veterans), USDA loans (eligible rural areas), and our 6-Month Forgivable Grant Program combined with seller concessions for closing costs. Many Monterey Park families purchase with minimal upfront cash.
2026 Los Angeles County limits: FHA $1,249,125, Conventional $1,249,125. Any loan above $1,249,125 is a jumbo loan. Most Monterey Park properties fall within conforming limits, maximizing your financing options.
For Monterey Park's $500,000 median price: FHA is better for credit scores under 680 or down payments under 5%—it's more forgiving on DTI ratios too. Conventional is better with 5%+ down and 700+ credit (lower PMI costs). We compare both options for your specific situation.
A denial doesn't mean you can't buy in Monterey Park. We review your denial letter, identify the specific issues (credit, DTI, income documentation), and match you with lenders who have more flexible guidelines. Common solutions include FHA loans for credit flexibility, alternative documentation, or co-borrower structures.
Credit requirements by loan type: FHA accepts 580+ (or 500 with 10% down), conventional starts at 620, VA at 620+. Our zero-down grant program works with 640+. Higher scores (720+) get better rates, but we work with borrowers across the credit spectrum.
Absolutely—first-time buyers are our specialty in Monterey Park. We guide you through the entire process, help you understand FHA vs conventional vs VA options, identify all available down payment assistance in Los Angeles County, and structure your purchase to minimize upfront costs.
You still have options in Monterey Park. FHA loans accept credit scores as low as 580 (or 500 with 10% down). We also offer credit improvement strategies and can connect you with rapid rescoring services to boost your score before applying. Many buyers improve 20-50 points within 30 days.
As a mortgage broker, we shop your scenario across 50+ wholesale lenders to find the best pricing. Unlike retail banks that only offer their own rates, we show you side-by-side comparisons with identical terms. No junk fees or hidden charges—just transparent pricing.
You work directly with a Senior Loan Officer (15+ years average experience) from application through closing—not a call center. We have local Los Angeles County expertise, same-day underwriting decisions, and flexibility to solve complex situations that algorithm-based lenders decline.
Closing costs in Monterey Park typically run 2-4% of the purchase price. On a $500,000 home, expect $10,000-$20,000 covering appraisal, title insurance, escrow fees, and prepaids. FHA allows sellers to contribute up to 6% toward your closing costs.
Pre-approval typically takes 24-72 hours. Full underwriting approval takes 14-21 days. We work with lenders offering express underwriting for strong borrowers who need faster closings.
You have several low down payment options in Monterey Park: Conventional (3% down), FHA (3.5% down), VA (0% for veterans), and our 6-Month Forgivable Grant Program covering your entire down payment. Many Monterey Park buyers purchase with 3.5% or less down.
A denial doesn't mean you can't buy in Monterey Park. We review your denial letter, identify the specific issues (credit, DTI, income documentation), and match you with lenders who have more flexible guidelines. Common solutions include FHA loans for credit flexibility, alternative documentation, or co-borrower structures.
As a mortgage broker, we shop your scenario across 50+ wholesale lenders to find the best pricing. Unlike retail banks that only offer their own rates, we show you side-by-side comparisons with identical terms. No junk fees or hidden charges—just transparent pricing.
You work directly with a Senior Loan Officer (15+ years average experience) from application through closing—not a call center. We have local Los Angeles County expertise, same-day underwriting decisions, and flexibility to solve complex situations that algorithm-based lenders decline.
Closing costs in Monterey Park typically run 2-4% of the purchase price. On a $500,000 home, expect $10,000-$20,000 covering appraisal, title insurance, escrow fees, and prepaids. FHA allows sellers to contribute up to 6% toward your closing costs.
Standard documents needed: pay stubs (last 30 days), W-2s (past 2 years), tax returns (past 2 years), bank statements (past 2 months), and photo ID. Self-employed borrowers need business tax returns and P&L statements. We'll provide a complete checklist for your situation.
Typical Monterey Park closing timeline: 30-45 days from accepted offer. VA/FHA loans may take slightly longer. Cash buyers close in 7-14 days. We work to meet your timeline and coordinate with all parties to close on schedule.
Credit requirements by loan type: FHA accepts 580+ (or 500 with 10% down), conventional starts at 620, VA at 620+. Our zero-down grant program works with 640+. Higher scores (720+) get better rates, but we work with borrowers across the credit spectrum.
2026 Los Angeles County limits: FHA $1,249,125, Conventional $1,249,125. Any loan above $1,249,125 is a jumbo loan. Most Monterey Park properties fall within conforming limits, maximizing your financing options.
Our No Money Down program offers $0 down payment for qualified Monterey Park buyers. We also offer our 6-Month Forgivable Grant (covers 3-3.5% down, forgiven after 6 months), CalHFA programs, and local first-time buyer assistance. Unlike CalHFA's 5-year requirements, our programs have no income limits and no first-time buyer requirement.
Yes! Zero-down options for Monterey Park buyers include: VA loans (eligible veterans), USDA loans (eligible rural areas), and our 6-Month Forgivable Grant Program combined with seller concessions for closing costs. Many Monterey Park families purchase with minimal upfront cash.
Absolutely—first-time buyers are our specialty in Monterey Park. We guide you through the entire process, help you understand FHA vs conventional vs VA options, identify all available down payment assistance in Los Angeles County, and structure your purchase to minimize upfront costs.
You still have options in Monterey Park. FHA loans accept credit scores as low as 580 (or 500 with 10% down). We also offer credit improvement strategies and can connect you with rapid rescoring services to boost your score before applying. Many buyers improve 20-50 points within 30 days.
For Monterey Park's $500,000 median price: FHA is better for credit scores under 680 or down payments under 5%—it's more forgiving on DTI ratios too. Conventional is better with 5%+ down and 700+ credit (lower PMI costs). We compare both options for your specific situation.
The FHA loan limit in Monterey Park is $1,250,000 for 2025. This higher limit reflects Los Angeles County's designation as a high. cost area, allowing you to purchase homes well above the median price of $860K with just 3.5% down. Most homes in Monterey Park fall comfortably within this FHA limit.
Most buyers in Monterey Park won't need a jumbo loan since the conforming loan limit is $1,250,000 and the median home price is $860K. You'll only need a jumbo loan if you're purchasing a home above $1.25 million. The majority of properties in this market are well. suited for conventional, FHA, or VA financing.
For 2025, Los Angeles County loan limits are $1,250,000 for conforming, FHA, and VA loans. The 2026 limits haven't been announced yet, but they're typically released in November 2025 and often adjust based on home price trends. Given the current market, you can expect limits to remain competitive for higher. cost areas like Monterey Park.
Yes, VA loans are very competitive in Monterey Park with a loan limit of $1,250,000 and no down payment required for eligible veterans. This limit covers the vast majority of homes in the area, including those at or above the $860K median price. VA loans are an excellent option here since they don't require mortgage insurance.
Our No Money Down program offers $0 down payment for qualified buyers in Monterey Park. Additionally, CalHFA offers down payment assistance programs with grants and deferred. payment junior loans, and Los Angeles County has various first. time homebuyer programs. These programs are particularly valuable in this market where the median home price of $860K would otherwise require a substantial down payment.
Down payment requirements in Monterey Park vary by loan type: conventional loans typically need 3% to 5% ($25,800 to $43,000 on an $860K home), FHA requires 3.5% ($30,100), and VA or USDA loans offer $0 down for eligible buyers. With median home prices around $860K, many buyers utilize down payment assistance programs to reduce their upfront costs.
Most lenders require a minimum credit score of 620 for conventional loans in Monterey Park, while FHA loans can go as low as 580 (or even 500 with 10% down). With the median home price at $860K, having a score of 680 or higher will help you secure better interest rates and more loan options. VA loans are also flexible with credit requirements for eligible veterans.
Look for a lender experienced with Monterey Park's $600K to $900K market who can offer multiple loan options including conventional, FHA, and VA products. Compare interest rates, closing costs, and whether they offer down payment assistance programs that work with the area's $860K median price point. A local lender familiar with Los Angeles County will better understand the market and can often close faster than national banks.
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