Question 1

How much do I need for a down payment in Brentwood?

Accepted Answer

Conventional loans require 3-5% down, FHA loans 3.5%, and VA/USDA loans zero. On a typical Brentwood home, expect $15k-$40k minimum unless you qualify for zero-down programs.

Question 2

What credit score do I need to buy a home here?

Accepted Answer

Most conventional loans require 620 minimum, FHA accepts 580, and VA loans often approve at 600. We have portfolio lenders who go down to 550 for strong borrowers with compensating factors.

Question 3

How long does it take to close a mortgage in Brentwood?

Accepted Answer

Standard purchases close in 30-45 days. Cash-out refinances take 35-40 days, rate-and-term refis 25-30 days.

Question 4

Can I buy in Brentwood if I'm self-employed?

Accepted Answer

Yes. Bank statement loans use 12-24 months of deposits instead of tax returns. We also offer 1099 loans and P&L statement programs for business owners.

Question 5

What documentation do I need to get pre-approved?

Accepted Answer

Bring 30 days of paystubs, 2 months of bank statements, and 2 years of W-2s or tax returns. Self-employed borrowers need business bank statements or tax returns depending on loan type.

Question 6

Is Brentwood a good market for first-time buyers?

Accepted Answer

Yes, especially compared to neighboring Antioch or Oakley. FHA and conventional 3% down loans work well here, and inventory is stronger than in central Contra Costa cities.

Question 7

Should I choose FHA or conventional for my Brentwood purchase?

Accepted Answer

FHA costs less upfront but charges lifetime mortgage insurance. Conventional requires higher credit and down payment but drops PMI at 20% equity—usually better long-term if you qualify.

Question 8

Do I qualify for a USDA loan in Brentwood?

Accepted Answer

No. Brentwood doesn't meet USDA rural eligibility requirements. Consider FHA 3.5% down or conventional 3% down instead.

Question 9

What's the difference between pre-qualification and pre-approval?

Accepted Answer

Pre-qualification is an estimate based on what you tell us. Pre-approval means we've verified your income, assets, and credit—it carries weight with Brentwood sellers in competitive situations.

Question 10

How much are closing costs on a Brentwood home purchase?

Accepted Answer

Expect 2-3% of the purchase price. That includes lender fees, title insurance, escrow, and prepaid property taxes.

Question 11

Can the seller pay my closing costs?

Accepted Answer

Yes. Sellers can contribute up to 3% on conventional loans, 6% on FHA, and 4% on VA. We structure this as part of your purchase offer.

Question 12

What are mortgage points and should I pay them?

Accepted Answer

Points are upfront fees to lower your rate—1 point equals 1% of the loan amount. They make sense if you're keeping the loan 5+ years in Brentwood's stable market.

Question 13

Can I buy a Brentwood investment property with a mortgage?

Accepted Answer

Yes. DSCR loans approve based on rental income, not your W-2. We also offer investor conventional loans with 15-25% down depending on your credit and reserves.

Question 14

What's a DSCR loan and when does it make sense?

Accepted Answer

DSCR loans qualify you based on the property's rent, not your tax returns. They work well for self-employed investors or buyers with multiple rental properties in Brentwood.

Question 15

How do bank statement loans work for self-employed borrowers?

Accepted Answer

We analyze 12-24 months of business or personal bank deposits to calculate income. This works if your tax returns show lower income due to write-offs.

Question 16

Can I use gift money for my down payment?

Accepted Answer

Yes. Conventional and FHA loans accept gifted down payments from family members. We need a gift letter stating the funds don't require repayment.

Question 17

What's PMI and how do I avoid it?

Accepted Answer

PMI is private mortgage insurance required on conventional loans under 20% down. Avoid it by putting 20% down, using a piggyback loan, or choosing lender-paid PMI with a higher rate.

Question 18

Should I get an adjustable-rate mortgage (ARM) in Brentwood?

Accepted Answer

ARMs make sense if you're selling within 5-7 years. Rates start 0.5-1% lower than fixed rates, but they adjust after the initial period—risky if you're staying long-term.

Question 19

Can I buy in Brentwood with an ITIN instead of a Social Security number?

Accepted Answer

Yes. ITIN loans require 15-20% down and proof of 2 years income. Rates run 0.25-0.75% higher than conventional loans.

Question 20

What's a jumbo loan and do I need one in Brentwood?

Accepted Answer

Jumbo loans exceed conforming limits—$806,500 in 2025 for Contra Costa County. You'll need one for higher-priced Brentwood homes, typically requiring 10-20% down and 700+ credit.

Question 21

How does my debt-to-income ratio affect mortgage approval?

Accepted Answer

Most loans cap DTI at 43-50%, meaning total monthly debts can't exceed that percentage of gross income. Pay down credit cards or increase income to improve your ratio.

Question 22

Can I buy a Brentwood home if I had a foreclosure or bankruptcy?

Accepted Answer

Yes, after waiting periods. Conventional loans require 4 years post-bankruptcy, 7 post-foreclosure. FHA accepts 2 years post-bankruptcy, 3 post-foreclosure with credit rebuilding.

Question 23

What's the advantage of working with a mortgage broker versus a bank?

Accepted Answer

Brokers shop 200+ lenders to find your best rate and program. Banks offer only their own products—you might miss better options for Brentwood properties.

Question 24

Do VA loans work well in Brentwood's market?

Accepted Answer

Yes. Zero down, no PMI, and competitive rates make VA loans strong here. Brentwood sellers generally accept VA offers without hesitation.

Question 25

How much do interest rates vary by loan type?

Accepted Answer

Conventional and VA offer the lowest rates. FHA runs 0.125-0.25% higher, bank statement loans 0.5-1.5% higher, and DSCR loans 1-2% higher depending on terms. Rates vary by borrower profile and market conditions.

Question 26

Can I lock my rate before finding a Brentwood home?

Accepted Answer

No. Rate locks require a purchase contract. You can float while shopping, then lock once you're in contract—locks typically last 30-60 days.

Question 27

What's a bridge loan and when would I use one?

Accepted Answer

Bridge loans let you buy before selling your current home. They're expensive short-term solutions—useful in competitive Brentwood bidding situations if you need to waive sale contingencies.

Question 28

Should I get a 15-year or 30-year mortgage?

Accepted Answer

15-year loans save massive interest but double your payment. Choose 30-year for flexibility, then pay extra when you can—you're not locked into the higher payment.

Question 29

Can I use rental income from the Brentwood home I'm buying to qualify?

Accepted Answer

Sometimes. If you're buying a multi-unit property and living in one unit, lenders count 75% of rental income. Single-family rental income typically doesn't count on owner-occupied purchases.

Question 30

What happens if my appraisal comes in low?

Accepted Answer

You'll need to cover the gap with cash, renegotiate the price, or walk away if you have an appraisal contingency. Low appraisals happen less in Brentwood's stable market than in hot urban areas.

Question 31

How do property taxes affect my mortgage payment in Brentwood?

Accepted Answer

Contra Costa County property taxes run about 1.1-1.2% annually. On a $700k home, expect $640-700/month in taxes added to your mortgage payment via escrow.

Question 32

Can I remove PMI before hitting 20% equity?

Accepted Answer

Yes. Request removal at 20% equity based on current value. Lenders require a new appraisal and 2 years of on-time payments—worth it if your Brentwood home appreciated.

Question 33

What's an asset depletion loan?

Accepted Answer

Asset depletion loans qualify you using retirement accounts or investments instead of income. We divide your assets by 360 months to create qualifying income—useful for retirees or high-net-worth buyers.

Question 34

Do I need flood insurance in Brentwood?

Accepted Answer

Most Brentwood properties don't require flood insurance. Some areas near marsh preserve zones might—your lender orders a flood determination during underwriting.

Question 35

How does a HELOC work on my Brentwood home?

Accepted Answer

HELOCs let you borrow against home equity with a revolving credit line. Rates are variable and you pay interest only on what you use—good for renovations or reserves.

Question 36

Can I buy a fixer-upper with a mortgage in Brentwood?

Accepted Answer

Yes. FHA 203k and conventional renovation loans finance purchase plus repairs in one loan. Hard money also works for heavy rehabs if you're flipping or refinancing quickly.

Question 37

What's the difference between interest-only and principal-and-interest payments?

Accepted Answer

Interest-only loans let you pay just interest for 5-10 years, lowering initial payments. Your balance doesn't decrease and payments jump later—risky unless you're selling soon.

Question 38

Should I refinance my Brentwood mortgage?

Accepted Answer

Refinance when rates drop 0.75%+ below your current rate or to eliminate PMI after appreciation. Run the break-even analysis—closing costs should pay back within 2-3 years.

Question 39

How do foreign national loans work for non-US citizen buyers?

Accepted Answer

Foreign national loans require 25-40% down and use international credit or bank statements for approval. They work for Brentwood investment properties or second homes without US credit history.

Question 40

What's the fastest way to close on a Brentwood home?

Accepted Answer

All-cash offers close in 7-14 days. For financed deals, get pre-approved early, respond fast to document requests, and use experienced local escrow—you can close in 21 days with effort.

Brentwood Mortgage FAQs: Your Questions Answered by Local Brokers