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Adjustable Rate Mortgages (ARMs) in Lemoore
Lemoore buyers often choose ARMs when they expect to move within 5-7 years. Military families stationed at NAS Lemoore use 5/1 and 7/1 ARMs to capture lower initial rates without long-term rate risk.
ARMs work best when you plan to sell before the first adjustment. Kings County's steady military turnover creates ideal conditions for this strategy.
Most ARM lenders require 620+ credit and 5% down minimum. Conventional ARMs accept 3% down with PMI, but VA ARMs through NAS Lemoore remain the most common path in this market.
Debt-to-income stays at 43-50% depending on the lender. Your qualification uses the fully indexed rate, not just the initial teaser rate, so budget accordingly.
We shop 200+ lenders to find the best ARM structure for your timeline. Some wholesale lenders offer 5/1 ARMs with rate caps as low as 2/2/5, meaning rates can't jump more than 2% at first adjustment.
Portfolio lenders occasionally beat agency pricing on 7/1 ARMs when you have strong credit. Credit unions serving NAS Lemoore personnel sometimes match wholesale rates but with slower closing timelines.
Most Lemoore ARM borrowers pick 5/1 or 7/1 terms because military reassignments typically happen within that window. The 10/1 ARM rarely makes sense here unless you're certain about a decade-long stay.
Watch the margin and index closely. Two lenders might quote the same start rate, but one uses SOFR plus 2.25% while another uses SOFR plus 2.75%. That half-point margin compounds over every adjustment.
ARMs typically start 0.5-1% below comparable 30-year fixed rates. On a $400K loan, that's $150-200 less per month during the fixed period, adding up to $9K-12K in savings over five years.
If you plan to stay past 10 years, conventional fixed loans make more sense. But for military families and short-term buyers, ARMs deliver lower payments when you need them most.
NAS Lemoore drives ARM demand in Kings County. Officers and enlisted families use 5/1 ARMs to maximize buying power while minimizing interest costs before their next duty station.
Lemoore's price point keeps most loans conforming, which means better ARM pricing than jumbo markets. You get agency backing with rate structures designed for shorter holding periods.
Most borrowers choose 5/1 or 7/1 ARMs, meaning rates stay fixed for 5 or 7 years before adjusting annually. The fixed period should match your expected ownership timeline.
Your rate adjusts based on the current index plus your margin, subject to caps. A 2/2/5 cap structure limits increases to 2% at first adjustment, 2% each period after, and 5% lifetime.
Yes, VA ARMs require zero down and often beat conventional ARM rates. They're designed for military families who expect reassignment within 5-7 years.
Absolutely. Many borrowers refinance to fixed rates before the first adjustment or into a new ARM if moving soon. We help time that decision based on rate environments.
Margins are set by the lender, but shopping across 200+ lenders lets us find the lowest margin for your profile. A 0.5% margin difference costs thousands over time.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.