Culver City covers a little over five square miles of land in Los Angeles County and home to more than 38,800 people based on the latest survey. It has a thriving creative economy, with an unusually high number of residents working in arts, design, entertainment, sports, and media. According to the local government, the creative industries comprise over 14% of total employment across all industries in 2014. Creative establishments grew to 669 in that same year from only 577 in 2009.
The median sale price of houses in Culver City increased to $996K in March from only $913K in February, according to the latest data provided by Redfin. The city is considered a real estate hotspot owing to tech locators and content creators. For instance, Amazon and Apple are currently building their entertainment content headquarters in the city, which undoubtedly motivate investors to develop new properties for the executives of these companies.
As of Friday, April 26, 2019, the mortgage rates in Culver City are 4.055% for a 30-year fixed mortgage and 3.512% for a 15-year period. For adjustable-rate mortgages (ARM), the rate is 3.739%.
Rocket Mortgage. Rocket Mortgage is an ideal choice for self-service customers who want to do their applications online. The company can pull one’s financial information from numerous sources at one’s approval and provide loan information within minutes. The company offers both conventional and government-backed loans, such as FHA, VA, and USDA at varying rates.
New American. This company allows borrowers to be evaluated using non-traditional data. It also has first-time homebuyers programs and helps borrowers find assistance programs for down payments. Loan products include purchase, refinance, jumbo, and all government-backed loans. HELOCs and home equity loans are off the menu though.
NBKC. NBKC offers FHA and VA purchase mortgages, refinancing, jumbo loans, home equity products, deposit accounts, commercial loans, and business loans. It allows non-traditional credit data like utility payments for those without credit scores. It’s an early adopter of online banking which allows it to process mortgages a day or two faster than traditional lenders.
Chase Mortgage. A company that hardly needs an introduction, Chase is one of the top players in the industry. It has a wide range of products that include fixed- and adjustable rate mortgages, jumbo loans that can go up to $3 million, home equity line of credit, and refinancing programs, in addition to discounts for existing customers.