Mortgage Lender in Wilmington, CA
Serving Wilmington homebuyers since 1995, Choice One Mortgage helps first-time buyers, port-area workers, and investors finance homes in one of the most affordable communities in the Los Angeles harbor area.
- Free Loan Analysis
- No Obligation
- 30+ Years Experience
Wilmington is one of the oldest communities in the Los Angeles area. Founded in the 1850s by Phineas Banning, it grew up alongside the Port of Los Angeles and is still closely tied to the harbor. Today it is a neighborhood of the City of Los Angeles with more than 50,000 residents, bordered by Carson, Harbor City, San Pedro, and Long Beach.
For buyers, Wilmington offers some of the lowest home prices near the coast in Los Angeles County. Single-family homes typically sell from about $600,000 to $850,000, and two-to-four unit properties from roughly $800,000 to $1.3 million.
At Choice One Mortgage, Bill Lewis has been helping South Bay buyers and homeowners since 1995. As a mortgage broker with access to dozens of wholesale lenders, we compare programs and pricing for you, whether you are buying your first home, moving up, refinancing, or adding a rental property.
Call (310) 614-5920 for a free, no-obligation consultation tailored to your situation.
Talk to a Local Mortgage Expert
Free Loan Analysis • No Obligation • 30+ Years Experience
Prefer email? Send us a messageThe Wilmington Housing Market
Wilmington’s homes range from early 1900s bungalows and Craftsman houses to post-war single-story homes. The community has a large number of duplexes, triplexes, and lots with a second house at the rear. The 110 and 710 freeways and Pacific Coast Highway provide access to the ports, Long Beach, and the South Bay.
Prices here are well within conforming and FHA loan amounts for Los Angeles County, so low-down-payment financing is widely available. Limits for single-family and multi-unit properties are on our county loan limits page.
Many Wilmington buyers work at the ports or in logistics, where income often includes overtime and variable hours. Lenders need to see a history of that income to count it. We know how to document it properly so you qualify for the full amount you actually earn.
Wilmington Neighborhoods We Serve
Banning Park Area
The streets around Banning Park and the historic Banning Museum have some of Wilmington’s most attractive older homes, including Craftsman and Victorian-era houses. This is the area most often requested by buyers who want character and a neighborhood feel.
Central Wilmington
Around Avalon Boulevard and Anaheim Street, the center of town has shops, restaurants, and a mix of single-family homes and small multi-unit buildings. The Wilmington Waterfront Park is nearby.
West Wilmington
Toward Harbor City and Los Angeles Harbor College, West Wilmington has post-war homes on residential streets and easy access to the 110 freeway.
East Wilmington
Closer to Long Beach, the east side offers the most affordable homes in the community along with many multi-unit properties that appeal to investors and house-hackers.
Home Loan Programs for Wilmington Buyers
As a mortgage broker, Choice One Mortgage is not limited to a single bank’s products. We search dozens of wholesale lenders to match Wilmington buyers with the right loan program for their situation.
Buying or Refinancing a Home
Conventional Loans
Flexible financing with as little as 3% down, mortgage insurance you can drop, and terms built around your goals.
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FHA Loans
Buy with as little as 3.5% down and flexible credit guidelines. A proven path to homeownership for first-time and repeat buyers.
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VA Loans
Zero down, no monthly mortgage insurance, and competitive rates. A benefit you earned through your service.
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Jumbo Loans
Financing for homes priced above the conforming loan limits, with the flexibility and personal service high-value purchases deserve.
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Bridge Loans
Use the equity in your current home to buy your next one now, without a contingent offer or moving twice.
Learn more →Self-Employed and Alternative Income
Self-Employed Mortgages
Business owners, freelancers, and 1099 earners deserve a mortgage that fits how they actually get paid.
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Bank Statement Loans
Qualify with your real cash flow, not the income left after write-offs. No tax returns required.
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Asset Depletion Loans
Turn your savings, investments, and retirement accounts into qualifying income, with no paycheck or tax returns required.
Learn more →Real Estate Investors
DSCR Loans
Qualify based on the property's rental income, not your personal income. Grow your portfolio without tax returns.
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Fix and Flip Loans
Fast, short-term financing for the purchase and the renovation, so you can win the deal and finish the project.
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Hard Money Loans
Asset-based financing for investors who need to close fast, based on the property's value instead of your paperwork.
Learn more →Home Equity and Retirement
Why Wilmington Buyers Choose a Mortgage Broker
- Overtime and variable income — We document port and logistics income so that overtime and shift pay count toward qualifying.
- Low down payment loans — FHA at 3.5% down, conventional from 3% down, VA with nothing down, plus down payment assistance.
- Multi-unit financing — Duplexes to fourplexes with rental income counted toward your qualification.
- Investor programs — DSCR loans that qualify on the property rent.
- 30+ years of experience — Bill Lewis has been originating mortgage loans since 1995. One point of contact from application to closing.
Frequently Asked Questions About Wilmington Mortgages
How much do I need for a down payment on a home in Wilmington?
FHA loans require 3.5% down, which is $24,500 on a $700,000 home. Conventional loans start at 3% down for first-time buyers, and VA loans require no down payment. Down payment assistance may reduce this further.
Will a lender count my overtime income?
Usually, if you have a history of earning it, generally two years, and your employer indicates it is likely to continue. We review your pay history first and tell you what income a lender will use.
Can I buy a duplex in Wilmington and live in one unit?
Yes. FHA allows 3.5% down on two-to-four unit properties when you occupy one unit, and a portion of the rent from the other units can help you qualify.
Is Wilmington part of Los Angeles?
Yes. Wilmington is a neighborhood within the City of Los Angeles. Loan limits are those of Los Angeles County.
What are closing costs like in Wilmington?
About 2% to 3% of the purchase price, or roughly $14,000 to $21,000 on a $700,000 home. FHA allows the seller to contribute up to 6% toward your costs.
Serving Wilmington and the Greater South Bay
Choice One Mortgage has been serving homebuyers throughout the South Bay and greater Los Angeles since 1995. We work with buyers and homeowners in Wilmington and all surrounding communities.
Choice One Mortgage Company, Inc. | NMLS 233784 | CA DRE 01238593
Bill Lewis | NMLS 284797 | (310) 614-5920
Equal Housing Lender. Subject to credit and property approval. This is not a commitment to lend.