Mortgage broker serving Morro Bay, 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 Morro Bay buyers, we match your unique situation to the right program.
The Morro Bay market requires jumbo loan expertise for homes above the $1M threshold.
We've spent 40+ years solving these exact challenges.
We're here to help match you with the perfect loan program for your Morro Bay 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 Morro Bay home. We coordinate everything to make closing day smooth and stress-free.
Finding the right home loan in Morro Bay starts with understanding your options. We've streamlined hundreds of mortgage programs into 8 clear categories for Morro Bay 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 Morro Bay 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 Morro Bay homebuyers. Compare options and find your best fit.
| Loan Type | Down Payment | Credit Score | Best For |
|---|---|---|---|
| Jumbo | 10-20% | 680+ | Homes above $832,750 |
| Bank Statement | 10-20% | 660+ | Self-employed, business owners, tech consultants |
| VA | $0 | No minimum | Veterans, active military (0% down on any price) |
| Asset Depletion | 10-20% | 680+ | Retirees, investors with $500K+ liquid assets |
| Conventional | 3-20% | 620+ | Good credit, flexible down payment. Up to $832,750 |
| DSCR | 20-25% | 660+ | Investment properties, no income verification |
| No Down Payment Program Featured | $0 (3.5% grant) | 580+ | First-time buyers - grant covers FHA or Conventional down payment |
| Reverse Mortgage | N/A | No minimum | Seniors 62+ accessing Morro Bay home equity |
Questions? Call (510) 589-4096 or email info@agoodlender.com
Most Morro Bay homes qualify for conforming loans under $1M. Best rates with 3-20% down.
Veterans buy in Morro Bay with nothing down. VA loans up to $1M with no mortgage insurance.
FHA loans popular for Morro Bay first-timers. 3.5% down, 580 credit minimum.
Higher-end Morro Bay properties may exceed $1M. Jumbo financing available when needed.
Bank statement loans work for Morro Bay's self-employed buyers. 12-24 months of deposits qualify you.
CalHFA MyHome provides up to 3.5% down payment assistance for Morro Bay buyers.
Bridge loans help Morro Bay buyers compete. Make non-contingent offers while selling current home.
Morro Bay investment properties in LLC. Entity financing available for investors.
Most Morro Bay mortgages qualify for conforming refinance. Lower your rate under the limit.
Morro Bay homeowners tap equity with cash-out refinance. Consolidate debt or fund renovations.
Veterans in Morro Bay refinance with VA IRRRL. No appraisal, no income verification.
Morro Bay HELOC options for home equity access. Credit line with variable rate draw period.
Morro Bay FHA borrowers can streamline refinance. No income verification or appraisal required.
Home equity loan option for Morro Bay. Fixed payments unlike variable HELOC.
Morro Bay rental investors use DSCR loans. Property income determines qualification, not W-2s.
Renovation investors in Morro Bay use fix-and-flip financing. Purchase plus rehab in one loan.
Morro Bay apartment financing available. Multifamily loans for 5+ unit buildings.
Commercial hard money in Morro Bay. Speed and flexibility for investment deals.
Buy a home with zero down payment. Our lenders cover your entire down payment through grant programs. No repayment required. Available for Morro Bay buyers with qualifying income.
CalHFA MyHome provides up to 3.5% down payment assistance for Morro Bay buyers.
Local Morro Bay DPA programs supplement state assistance. City grants reduce out-of-pocket costs.
Morro Bay buyers check Elite grant eligibility. Grant funds reduce out-of-pocket costs.
Gift of equity option for Morro Bay family purchases. Parents selling to children at discount.
Morro Bay buyers use non-occupant co-borrowers. Parents help children qualify for homes.
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
Morro Bay is a small coastal town of 10,766 on the Central Coast, right on the water in San Luis Obispo County. Median household income sits at $88,547, homeownership rate is 57.7%, and here's the reality: median home price is $1,152,000. This isn't a place where your average California household can qualify for a mortgage on their own. You're looking at needing roughly $230K down for a conventional loan and an income well into six figures to make the numbers work, or you're bringing serious cash to the table.
The school situation here is straightforward but limited given the town's size. Morro Bay High serves the whole community, Del Mar Elementary and Monarch Grove Elementary handle the younger grades. The district is part of San Luis Coastal Unified, which runs the entire coastal stretch. Here's the thing about buying in a small coastal town: families who can afford the $1.2M entry point often have kids in private schools or are empty nesters, which is why that 57.7% ownership rate isn't higher. If you're financing with kids in mind, you're betting on a stable small-town district and the lifestyle trade-off of limited school choice for ocean access.
Look, Morro Bay doesn't have the neighborhood variety you'd find in a bigger city. Downtown and the Embarcadero area run around $1.2M, and you're paying for walkability to the waterfront, restaurants, and tourist action. North Morro Bay also hits that $1.2M mark, quieter and more residential but still ocean-adjacent. The whole town is basically priced at the same level because you're buying location and lifestyle, not square footage or school ratings. Most buyers here use conventional loans with 20% down or better, sometimes jumbo loans depending on the property. Cash buyers are common too, especially retirees or second-home purchasers who've sold out of pricier markets. If you need FHA or a low down payment option, you'll struggle to find something that pencils out here.
The commute situation is brutal if you work in a major city. San Francisco is 224 minutes away, LA is 208 minutes. Nobody's doing that daily drive and keeping their sanity or their mortgage current. This is a place for remote workers, retirees, people who own businesses locally, or folks willing to drive to San Luis Obispo for work. Local transit exists but it's minimal. The truth is, Morro Bay stays expensive precisely because it's isolated. You can't commute your way into affording it like you might in Apple Valley or Tracy.
San Luis Coastal Unified School District is the biggest employer, followed by the City of Morro Bay itself and Morro Bay State Park. But real talk, the economy here runs on tourism and hospitality. Hotels, restaurants, shops along the Embarcadero, whale watching tours, all the businesses that serve visitors. That creates service jobs that don't support $1.2M mortgages, which is why the homeownership rate sits at 57.7% instead of higher. Most people who can afford to buy here either work remotely in high-paying jobs, own local businesses, or they're retired and bought years ago or cashed out from somewhere else. If your income depends on the local job market, you're probably renting unless you've got family money or a partner with remote tech income.
Common questions from Morro Bay 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 Morro Bay 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 Morro Bay: Conventional (3% down), FHA (3.5% down), VA (0% for veterans), and our 6-Month Forgivable Grant Program covering your entire down payment. Many Morro Bay buyers purchase with 3.5% or less down.
Our No Money Down program offers $0 down payment for qualified Morro Bay 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 Morro Bay 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 Morro Bay families purchase with minimal upfront cash.
2026 San Luis Obispo County limits: FHA $920,000, Conventional $1,000,500. Any loan above $1,000,500 is a jumbo loan. Most Morro Bay properties fall within conforming limits, maximizing your financing options.
For Morro Bay'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 Morro Bay. 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 Morro Bay. We guide you through the entire process, help you understand FHA vs conventional vs VA options, identify all available down payment assistance in San Luis Obispo County, and structure your purchase to minimize upfront costs.
You still have options in Morro Bay. 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 San Luis Obispo County expertise, same-day underwriting decisions, and flexibility to solve complex situations that algorithm-based lenders decline.
Closing costs in Morro Bay 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 Morro Bay: Conventional (3% down), FHA (3.5% down), VA (0% for veterans), and our 6-Month Forgivable Grant Program covering your entire down payment. Many Morro Bay buyers purchase with 3.5% or less down.
A denial doesn't mean you can't buy in Morro Bay. 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 San Luis Obispo County expertise, same-day underwriting decisions, and flexibility to solve complex situations that algorithm-based lenders decline.
Closing costs in Morro Bay 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 Morro Bay 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 San Luis Obispo County limits: FHA $920,000, Conventional $1,000,500. Any loan above $1,000,500 is a jumbo loan. Most Morro Bay properties fall within conforming limits, maximizing your financing options.
Our No Money Down program offers $0 down payment for qualified Morro Bay 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 Morro Bay 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 Morro Bay families purchase with minimal upfront cash.
Absolutely—first-time buyers are our specialty in Morro Bay. We guide you through the entire process, help you understand FHA vs conventional vs VA options, identify all available down payment assistance in San Luis Obispo County, and structure your purchase to minimize upfront costs.
You still have options in Morro Bay. 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 Morro Bay'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 Morro Bay is $920,000 for 2025. This covers many homes in the area, though with the median price around $1.2M, you'll find that some properties exceed this limit. If you're looking at homes above $920K, you'll need to explore conventional or jumbo loan options instead.
It depends on your purchase price. With most Morro Bay homes priced between $900K and $1.25M and the conforming loan limit at $1M, many buyers can use conventional financing. However, if you're purchasing above $1M with less than 20% down, you'll need a jumbo loan, which typically requires stronger credit and larger reserves.
For 2025, San Luis Obispo County has a conforming loan limit of $1M, an FHA limit of $920K, and a VA limit of $1M. These limits are typically announced in November for the following year, so 2026 limits aren't yet available but may increase based on home price trends. Check back in late 2025 for updated 2026 figures.
Yes, VA loans are available in Morro Bay with a loan limit of $1M for 2025. Since many homes fall within or close to this limit, eligible veterans and service members can often purchase with $0 down. For homes above $1M, you'd need to cover the difference with a down payment while still enjoying VA loan benefits.
Our No Money Down program offers $0 down payment for qualified buyers, making homeownership more accessible in this upper. middle market. CalHFA programs can also help with down payment and closing costs, offering options like deferred. payment junior loans. San Luis Obispo County may have additional local programs worth exploring, especially for first. time buyers.
For a typical $1.2M home in Morro Bay, you'll need at least 3% down ($36,000) with conventional financing, though 20% ($240,000) avoids PMI. FHA loans require 3.5% down but only work up to $920K, while VA. eligible buyers can often go $0 down up to $1M. Many established professionals in this market aim for 10. 20% down to strengthen their offers.
Most conventional lenders require a minimum 620 credit score, though you'll get better rates with 740 or higher. For jumbo loans on homes above $1M, lenders typically want 700+ with strong financial reserves. FHA allows scores as low as 580, but with Morro Bay's competitive market and higher prices, a stronger credit profile helps you secure favorable terms.
Look for a lender experienced with Morro Bay's price range who can handle both conforming and jumbo loans, since you may need either depending on the property. Compare rates, but also consider responsiveness and pre. approval strength, as sellers in this competitive coastal market favor well. qualified buyers. Ask about their experience with properties in the $900K. $1.25M range and their typical closing timelines.
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