Question 1

How do portfolio ARM rates compare to fixed-rate mortgages in Fowler?

Accepted Answer

Initial rates typically run 0.5-1.5% higher than standard ARMs and about 0.25-0.75% lower than 30-year fixed rates. Rates vary by borrower profile and market conditions.

Question 2

What happens when my portfolio ARM adjusts after the fixed period?

Accepted Answer

Your rate adjusts based on an index plus a margin, usually capped at 2% per adjustment and 5-6% over the loan life. Most borrowers refinance before the first adjustment hits.

Question 3

Can I use a portfolio ARM for agricultural property in Fowler?

Accepted Answer

Yes, portfolio lenders often approve ag properties that conventional loans reject. They evaluate the full property cash flow, not just residential income guidelines.

Question 4

Do portfolio ARM lenders accept 1099 income for Fowler borrowers?

Accepted Answer

Most portfolio lenders accept 1099 income with 12-24 months of bank statements showing consistent deposits. They focus on actual cash flow rather than tax return income.

Question 5

What credit score do I need for a portfolio ARM in Fresno County?

Accepted Answer

Most lenders require 660-680 minimum credit scores. Higher scores above 700 unlock better rates and lower down payment requirements on portfolio products.

Portfolio ARM Loans in Fowler: Flexible Financing When Standard Loans Won't Work