Question 1

Why can't I just get a conventional ARM for a Markleeville cabin?

Accepted Answer

Conventional ARMs get sold to Fannie or Freddie. Many Alpine County properties don't meet their property condition rules.

Question 2

How does an ARM adjustment work after the initial period?

Accepted Answer

Your rate adjusts on a set schedule, tied to an index. Caps limit how much it can move each period and over the loan's life.

Question 3

What credit score do portfolio ARM lenders want?

Accepted Answer

It varies. Some portfolio lenders go below 680 if equity and assets are strong. Each lender sets their own floor.

Question 4

Can I use a portfolio ARM to buy a vacation home in Markleeville?

Accepted Answer

Yes. Portfolio lenders are generally more flexible on occupancy types, including second homes and investment properties.

Question 5

Are portfolio ARMs more expensive than conventional loans?

Accepted Answer

Often slightly higher in rate. But if conventional lenders won't approve the property at all, the comparison is irrelevant.

Portfolio ARMs in Markleeville, CA — Flexible Loans for a Unique Market