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Agoura Hills Mortgage FAQ
Buying in Agoura Hills means navigating jumbo territory. Most properties here exceed conforming loan limits, which changes your financing options significantly.
SRK CAPITAL has access to 200+ wholesale lenders. We shop rates across conventional, jumbo, and specialty programs to match your exact situation.
The questions below cover what we hear most from Agoura Hills buyers. Each answer reflects what actually gets approved in Los Angeles County.
Conventional loans require 620 minimum. Jumbo lenders typically want 700 or higher for competitive rates.
Not always. Conventional loans accept 3-5% down, but most properties here exceed conforming limits and require 10-20% for jumbos.
Anything above $806,500 in 2024. Most single-family homes in Agoura Hills fall into jumbo territory.
Expect 30-45 days for conventional purchases. Jumbo loans can add 5-10 days due to additional underwriting layers.
You can, but FHA caps at $644,000 in high-cost areas. That limits your options significantly in this market.
Two years tax returns, 60 days bank statements, pay stubs, W-2s, and employment verification. Self-employed borrowers need P&Ls and business bank statements.
Yes, but VA limits at $806,500 in Los Angeles County. You'd need a large down payment for anything above that amount.
Lenders want your total debt payments under 43-50% of gross income. For a $1.2M home, expect to show $15,000+ monthly income.
Pre-qualified is an estimate based on what you tell us. Pre-approved means a lender reviewed your documents and committed to a loan amount.
Most jumbo lenders require 6-12 months of reserves. That means cash equal to 6-12 mortgage payments sitting in your accounts after closing.
Absolutely. We offer bank statement loans, P&L programs, and 1099 loans that qualify you on business deposits instead of tax returns.
Expect 2-5% of purchase price. On a $1M home, that's $20,000-$50,000 covering lender fees, title, escrow, and prepaid items.
It depends on how long you'll keep the loan. Points make sense if you're staying 5+ years and rates are high.
Private mortgage insurance covers the lender if you default. You avoid it by putting 20% down or using a piggyback loan structure.
Yes, but lenders require a gift letter stating the money doesn't need repayment. Jumbo loans may limit gift fund percentage.
Debt Service Coverage Ratio loans qualify investors based on rental income, not personal income. Perfect if you're buying investment property here.
Yes, through portfolio lenders. You pay only interest for 5-10 years, then principal kicks in or you refinance.
ARMs start with a lower fixed rate for 3, 5, 7, or 10 years, then adjust annually. Initial rates beat 30-year fixed by 0.5-1.0%.
Yes. We offer foreign national programs requiring 30-40% down and documentation from your home country.
Alternative qualifying using 12-24 months of business bank deposits. Designed for self-employed borrowers who write off significant expenses.
Yes. Lenders require a full appraisal on all purchase loans to verify the property value supports the loan amount.
You negotiate a lower price, bring more cash, or walk away if you have an appraisal contingency. Low appraisals are rare in stable markets.
Yes, using a renovation loan like FHA 203k or Fannie Mae HomeStyle. These roll purchase and repair costs into one mortgage.
FHA accepts lower credit scores and 3.5% down but requires mortgage insurance for life. Conventional needs higher scores but drops PMI at 20% equity.
Most lenders cap you at 43-50% debt-to-income ratio. If you earn $200,000 annually, expect approval around $1.2-1.4M depending on other debts.
Portfolio ARMs are held by the lender, not sold to Fannie or Freddie. They offer flexible underwriting for complex income or credit situations.
Yes. ITIN loans require 15-25% down and verify income through alternative documentation like tax returns and bank statements.
Asset depletion qualifies retirees by dividing investments by 360 months to create income. Works when you have assets but minimal tax return income.
Only if new rates beat your current rate by 0.75% or more. Factor in closing costs and how long you'll keep the loan.
Bridge loans let you buy before selling your current home. Rates run higher but solve timing problems between purchase and sale.
If you own property elsewhere, a HELOC can fund your down payment. Just know it adds to your debt-to-income ratio.
740 or higher unlocks top-tier jumbo pricing. Scores below 700 can increase your rate by 0.5-1.5%.
Construction loans fund in stages as work completes. You pay interest only during construction, then convert to permanent financing when done.
Brokers access 200+ lenders instead of one bank's products. We shop rates and programs to find the best fit for your exact situation.
Rates vary by borrower profile and market conditions. Your credit score, down payment, and loan size all affect the rate you receive.
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.
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.