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Portfolio ARMs in Lemoore
Lemoore sits in Kings County's agricultural heartland where borrowers often have income patterns that don't fit Fannie Mae boxes. Portfolio ARMs work here because lenders hold the loans instead of selling them to agencies.
Naval Air Station Lemoore creates a mixed market of military personnel and civilian contractors. Portfolio ARMs accommodate rotating assignments, self-employment income, and investment property scenarios conventional lenders pass on.
Most portfolio ARM lenders want 680+ credit and 20-25% down. Income verification varies by lender—some use bank statements, others accept 1099s or asset depletion methods.
Expect rates 0.5-1.5% above conventional ARMs. The adjustment caps and index vary since each lender writes their own rules without agency constraints.
Portfolio ARM lenders cluster around portfolio lenders and credit unions. Each institution sets its own adjustment caps, margins, and qualifying standards.
Most use SOFR or Treasury indexes now. Adjustment periods run 3/1, 5/1, or 7/1 structures, but the caps and lifetime adjustment limits differ wildly between lenders.
I send Lemoore clients to portfolio ARMs when they have strong income but poor documentation. Self-employed farmers, consultants to NAS Lemoore, and investors buying rental properties all fit this profile.
Shop the adjustment caps hard. Some lenders cap at 2% per adjustment with 5% lifetime, others go 5/5/5. That difference matters when you plan to hold the property beyond the initial fixed period.
Bank statement loans offer 30-year fixed rates while portfolio ARMs adjust after 3-7 years. Pick the ARM if you expect to sell or refinance within the fixed period.
DSCR loans work for pure investment plays where rental income covers the payment. Portfolio ARMs give more flexibility for owner-occupied properties with non-traditional income documentation.
Kings County property values stay below coastal markets, so loan amounts typically fall under jumbo thresholds. Most portfolio ARM lenders cap at $2-3 million here.
Agricultural income seasonality affects qualification. Lenders who hold portfolio ARMs understand harvest cycles and can structure around 1099 farming income or crop production patterns.
Expect 0.5-1.5% higher rates than conventional ARMs. You pay the premium for flexible underwriting that agencies won't accept.
Yes. Portfolio lenders structure around seasonal ag income using bank statements or asset depletion methods conventional lenders reject.
Your rate adjusts based on the index plus margin in your note. Adjustment caps limit how much rates can increase per period.
Most do with 25-30% down. They're more flexible than agencies on rental income documentation and property types.
Slightly longer—expect 30-40 days. Lenders review non-standard income docs manually instead of running automated underwriting.
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.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
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.