Question 1

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

Accepted Answer

Most lenders want 680 minimum. You can find programs at 660 with higher rates and larger down payments, but 680 gets you better pricing.

Question 2

How do portfolio ARMs adjust after the fixed period?

Accepted Answer

They adjust based on an index plus a margin. Common structures are 5/1 or 7/1, adjusting annually after 5 or 7 years with caps limiting how much rates can rise.

Question 3

Can I use farm income to qualify?

Accepted Answer

Yes, through profit-and-loss statements or bank deposits. Portfolio lenders accept agricultural income that agency loans reject due to tax write-offs.

Question 4

Do portfolio ARMs require tax returns?

Accepted Answer

Not always. Many programs use bank statements, asset depletion, or DSCR instead. Some lenders want business tax returns for self-employed borrowers.

Question 5

What down payment do I need in Maricopa?

Accepted Answer

20% is standard for most properties. Rural land or investment properties often need 25-30%, while single-family owner-occupied can sometimes go to 15%.

Question 6

How long does underwriting take for portfolio ARMs?

Accepted Answer

Plan on 30-45 days. These loans require manual underwriting, not automated approvals, so lenders review every document before funding.

Portfolio ARMs in Maricopa: Flexible Financing for Non-Traditional Borrowers