Mortgage broker serving San Luis Obispo, 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 San Luis Obispo buyers, we match your unique situation to the right program.
The San Luis Obispo 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 San Luis Obispo 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 San Luis Obispo home. We coordinate everything to make closing day smooth and stress-free.
Finding the right home loan in San Luis Obispo starts with understanding your options. We've streamlined hundreds of mortgage programs into 8 clear categories for San Luis Obispo 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 San Luis Obispo 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 San Luis Obispo 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 San Luis Obispo home equity |
Questions? Call (510) 589-4096 or email info@agoodlender.com
Most San Luis Obispo homes qualify for conforming loans under $1M. Best rates with 3-20% down.
Veterans buy in San Luis Obispo with nothing down. VA loans up to $1M with no mortgage insurance.
FHA loans popular for San Luis Obispo first-timers. 3.5% down, 580 credit minimum.
Higher-end San Luis Obispo properties may exceed $1M. Jumbo financing available when needed.
Bank statement loans work for San Luis Obispo's self-employed buyers. 12-24 months of deposits qualify you.
CalHFA MyHome provides up to 3.5% down payment assistance for San Luis Obispo buyers.
Bridge loans help San Luis Obispo buyers compete. Make non-contingent offers while selling current home.
San Luis Obispo investment properties in LLC. Entity financing available for investors.
Most San Luis Obispo mortgages qualify for conforming refinance. Lower your rate under the limit.
San Luis Obispo homeowners tap equity with cash-out refinance. Consolidate debt or fund renovations.
Veterans in San Luis Obispo refinance with VA IRRRL. No appraisal, no income verification.
San Luis Obispo HELOC options for home equity access. Credit line with variable rate draw period.
San Luis Obispo FHA borrowers can streamline refinance. No income verification or appraisal required.
Home equity loan option for San Luis Obispo. Fixed payments unlike variable HELOC.
San Luis Obispo rental investors use DSCR loans. Property income determines qualification, not W-2s.
Renovation investors in San Luis Obispo use fix-and-flip financing. Purchase plus rehab in one loan.
San Luis Obispo apartment financing available. Multifamily loans for 5+ unit buildings.
Commercial hard money in San Luis Obispo. 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 San Luis Obispo buyers with qualifying income.
CalHFA MyHome provides up to 3.5% down payment assistance for San Luis Obispo buyers.
Local San Luis Obispo DPA programs supplement state assistance. City grants reduce out-of-pocket costs.
San Luis Obispo buyers check Elite grant eligibility. Grant funds reduce out-of-pocket costs.
Gift of equity option for San Luis Obispo family purchases. Parents selling to children at discount.
San Luis Obispo 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
San Luis Obispo sits halfway between LA and San Francisco on the Central Coast, about 12 miles inland from Pismo Beach. Population is 47,529, median household income $65,000. Here's the thing: the homeownership rate is just 38%, one of the lowest in California, and the median home price is $1,075,000. That massive gap between what people earn and what homes cost tells you everything about this market. Cal Poly dominates the economy and housing stock, which means you're competing with investors buying rental properties and parents buying condos for their college kids.
San Luis Obispo High pulls decent ratings and the district is solid, but here's what matters for buyers: this isn't really a family town in the traditional sense. That 38% homeownership rate means most people rent, and a big chunk of the housing stock turns over with the academic calendar. Teach Elementary and Laguna Middle serve the families who do buy here, but you'll find more families in Atascadero or Arroyo Grande where prices drop $200K-$300K. Cal Poly and Cuesta College drive the market, which affects resale. If you're buying a single-family home for your family, you're in the minority, but the school quality does help with long-term value. The university brings stability even if it makes affordability brutal.
Real talk: the neighborhoods here don't vary much on price because everything's expensive. Downtown runs around $1.1M for what you can find, mostly older homes or condos within walking distance of Mission Plaza and Thursday Night Farmers' Market. You're paying for walkability and the SLO lifestyle. Cal Poly Area also hits $1.1M, but a lot of that is investment property or parents buying for students, so you'll see more turnover and rental competition. Laguna Lake neighborhoods near the park run the same $1.1M range, maybe slightly better for families wanting a yard. Jumbo loans are standard across the board since you're well over conforming limits. If you want conventional loan territory, you're looking at condos or moving to the Five Cities area south of town.
You're 194 minutes from LA and 216 minutes from San Francisco, which means this isn't a commuter town. Highway 101 runs through, but nobody's driving to the Bay Area or LA basin daily for work. Local transit exists but most people drive. The isolation is part of why people pay the premium to live here. If your job isn't in SLO or you can't work remotely, the math on a $1M+ mortgage gets really hard to justify. But if you work for Cal Poly, the county, or one of the local employers, you're trading a massive housing payment for the Central Coast quality of life.
Cal Poly is the 800-pound gorilla, employing thousands directly and driving the entire local economy through students and university spending. San Luis Coastal Unified School District and County of San Luis Obispo provide steady public sector jobs with decent benefits, which helps if you're trying to qualify for a mortgage here. Sierra Vista Regional Medical Center and PG&E round out the major employers. The job market is stable but not high-paying compared to the Bay Area or LA, which is why that income-to-home-price ratio looks so rough. Most buyers here either have family money, equity from selling elsewhere, or two solid incomes. First-time buyers without help are mostly priced out unless they're looking at condos or going FHA with a smaller place.
Common questions from San Luis Obispo 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 San Luis Obispo 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 San Luis Obispo: Conventional (3% down), FHA (3.5% down), VA (0% for veterans), and our 6-Month Forgivable Grant Program covering your entire down payment. Many San Luis Obispo buyers purchase with 3.5% or less down.
Our No Money Down program offers $0 down payment for qualified San Luis Obispo 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 San Luis Obispo 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 San Luis Obispo 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 San Luis Obispo properties fall within conforming limits, maximizing your financing options.
For San Luis Obispo'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 San Luis Obispo. 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 San Luis Obispo. 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 San Luis Obispo. 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 San Luis Obispo 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 San Luis Obispo: Conventional (3% down), FHA (3.5% down), VA (0% for veterans), and our 6-Month Forgivable Grant Program covering your entire down payment. Many San Luis Obispo buyers purchase with 3.5% or less down.
A denial doesn't mean you can't buy in San Luis Obispo. 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 San Luis Obispo 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 San Luis Obispo 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 San Luis Obispo properties fall within conforming limits, maximizing your financing options.
Our No Money Down program offers $0 down payment for qualified San Luis Obispo 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 San Luis Obispo 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 San Luis Obispo families purchase with minimal upfront cash.
Absolutely—first-time buyers are our specialty in San Luis Obispo. 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 San Luis Obispo. 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 San Luis Obispo'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 San Luis Obispo is $920,000 for 2026. This covers many homes in the area, though with median prices around $1.1M, you'll often need a larger down payment or consider conventional financing. FHA loans require just 3.5% down with a credit score of 580 or higher.
You'll need a jumbo loan if you're buying above $1M, which applies to many homes since the median price is $1.1M. However, plenty of properties in the $900K. $1M range fit under the conforming limit, allowing you to access better rates and terms. If you're looking at homes over $1M, expect stricter credit requirements and typically 10. 20% down for jumbo financing.
For 2026, San Luis Obispo County loan limits are $1M for conforming loans, $920,000 for FHA, and $1M for VA loans. These limits work well for many buyers here since a good portion of inventory falls in the $900K. $1M range. Anything above $1M requires jumbo financing with different qualification standards.
Yes, VA loans are available in San Luis Obispo with a $1M loan limit, which covers a solid portion of the market. You'll get 0% down and no PMI, making it one of the best options if you're a qualified veteran or active. duty service member. With median prices at $1.1M, you can use a VA loan for many properties, though higher. priced homes will require a down payment on the amount above $1M.
Our No Money Down program offers $0 down payment for qualified buyers, making homeownership more accessible in this competitive market. CalHFA programs provide down payment and closing cost assistance with various income limits and first. time buyer options. Some local county programs may also be available, and it's worth exploring what you qualify for given the area's median income of $65,000.
Down payments vary by loan type, but you can buy with as little as 0% down using VA or USDA loans, 3.5% with FHA ($38,500 on a $1.1M home), or 3% with conventional financing. For homes above the $1M conforming limit, jumbo loans typically require 10. 20% down. With median prices at $1.1M, many established professionals opt for conventional loans with 5. 10% down to avoid PMI or secure better rates.
You can qualify for an FHA loan with a credit score as low as 580, while conventional loans typically require 620 or higher for the best terms. For jumbo loans on homes above $1M, most lenders want to see 680. 700+ given the higher loan amounts. If you're an established professional in the area, aiming for 700+ will give you access to the most competitive rates and loan options.
Look for a lender experienced with San Luis Obispo's upper. middle market who understands both conforming and jumbo financing since many homes hover around the $1M limit. You'll want someone who can clearly explain your options, offer competitive rates, and close on time in this competitive market. Compare loan estimates from multiple lenders, read reviews, and choose someone responsive who makes you feel confident throughout the process.
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