Question 1

What's the typical mortgage amount for Beverly Hills homes?

Accepted Answer

Most Beverly Hills properties cost $2M-$15M, putting them well into jumbo loan territory. You'll need jumbo-specific underwriting and typically 20-30% down.

Question 2

Can I use a bank statement loan in Beverly Hills?

Accepted Answer

Yes, bank statement loans work well here for self-employed buyers. We use 12-24 months of business or personal bank statements instead of tax returns to qualify you.

Question 3

What credit score do I need for a Beverly Hills mortgage?

Accepted Answer

Jumbo loans typically require 680-700 minimum credit scores. Higher scores unlock better rates, especially on loans above $3M.

Question 4

How much down payment do Beverly Hills lenders expect?

Accepted Answer

Expect 20-30% down for jumbo loans. Some portfolio lenders go to 10% down, but you'll pay higher rates and stricter underwriting applies.

Question 5

Do foreign nationals qualify for Beverly Hills mortgages?

Accepted Answer

Yes, we have foreign national programs that don't require US credit or tax returns. You'll need 30-40% down and proof of international income.

Question 6

What's the loan limit before I need jumbo financing?

Accepted Answer

The 2026 conforming limit in LA County is $1,249,125. Anything above that requires jumbo underwriting with stricter qualification standards.

Question 7

Can I buy a Beverly Hills investment property with 20% down?

Accepted Answer

Yes, DSCR loans use rental income to qualify you without reviewing personal income. You need 20-25% down and the property must cash flow.

Question 8

How long does Beverly Hills mortgage approval take?

Accepted Answer

Jumbo loans take 30-45 days typically. Complex income structures or multiple properties can add another 1-2 weeks to underwriting.

Question 9

What documents do I need for a jumbo loan?

Accepted Answer

Expect to provide 2 years tax returns, 2 months bank statements, asset documentation, and explanations for large deposits. Jumbo lenders scrutinize everything.

Question 10

Are interest-only loans available in Beverly Hills?

Accepted Answer

Yes, many jumbo borrowers use interest-only periods to maximize cash flow. You'll pay interest-only for 5-10 years, then principal kicks in.

Question 11

Can I use an LLC to buy Beverly Hills property?

Accepted Answer

Yes, but most lenders require personal guarantees on jumbo loans. Portfolio lenders offer true non-recourse loans but charge higher rates.

Question 12

What are closing costs on a $3M Beverly Hills home?

Accepted Answer

Expect 1.5-3% in lender and third-party fees, plus 1.1% transfer tax to LA County. Budget $75K-$120K total for a $3M purchase.

Question 13

Do I need PMI on Beverly Hills jumbo loans?

Accepted Answer

No, jumbo loans don't use PMI. But if you put down less than 20%, expect higher interest rates baked into the loan pricing.

Question 14

Can I refinance a Beverly Hills home I bought last year?

Accepted Answer

Yes, rate-and-term refinances work anytime. Cash-out refinances typically require 12 months ownership and you can pull out equity up to 80% LTV.

Question 15

What's a portfolio ARM and why use one here?

Accepted Answer

Portfolio ARMs are adjustable-rate mortgages from private lenders. They offer flexible underwriting for complex income scenarios common among Beverly Hills buyers.

Question 16

How do lenders verify income for 1099 workers?

Accepted Answer

1099 loans use your gross 1099 income before expenses. We need 1-2 years of 1099 forms and sometimes a CPA letter to verify earnings.

Question 17

Can I use stock options or RSUs to qualify?

Accepted Answer

Yes, but lenders typically require 2-year history of vesting. They'll average your stock income and may discount it by 25% for volatility.

Question 18

What's an asset depletion loan?

Accepted Answer

Asset depletion loans qualify you using investment accounts instead of income. Lenders divide your assets by 360 months to calculate qualifying income.

Question 19

Are there mortgages for Beverly Hills condos in high-rises?

Accepted Answer

Yes, but jumbo condo financing requires warrantable projects. Lenders review HOA budgets, owner-occupancy ratios, and litigation history before approving.

Question 20

Can I buy a teardown property with mortgage financing?

Accepted Answer

Yes, use a construction-to-permanent loan. You'll need 20-25% down, detailed building plans, and a licensed contractor before approval.

Question 21

What's a bridge loan and when do I need one?

Accepted Answer

Bridge loans provide short-term financing to buy before selling your current home. Rates run 7-10% but you avoid sale contingencies in competitive markets.

Question 22

Do Beverly Hills properties qualify for FHA loans?

Accepted Answer

Technically yes, but FHA maxes out at $832,750 in LA County. Almost no Beverly Hills homes fall under that limit.

Question 23

Can I use a VA loan in Beverly Hills?

Accepted Answer

Yes, VA loans work up to $832,750 with zero down. Above that, you'll need 25% of the difference in cash as a down payment.

Question 24

What's the rate difference between conforming and jumbo loans?

Accepted Answer

Jumbo rates run 0.25-0.75% higher than conforming loans. Your credit score, down payment, and loan amount determine where you land in that range.

Question 25

Can I lock my rate before finding a property?

Accepted Answer

Some lenders offer float-down locks for 30-60 days. You'll pay a fee upfront but it locks your rate while you shop for homes.

Question 26

What's a DSCR loan and who uses them?

Accepted Answer

DSCR loans qualify based on rental income, not your personal income. Investors use them to avoid showing tax returns or W-2s.

Question 27

Are there mortgages for properties with guest houses?

Accepted Answer

Yes, lenders can count rental income from legal ADUs if you have a lease and rental history. Illegal units won't count toward qualifying income.

Question 28

Can I get a mortgage with an ITIN instead of SSN?

Accepted Answer

Yes, ITIN loans work for borrowers without Social Security numbers. You'll need 15-20% down and proof of US income history.

Question 29

What happens if I'm buying a Beverly Hills co-op?

Accepted Answer

Co-ops are harder to finance than condos. Fewer lenders touch them, you'll need 25-30% down, and board approval can delay closing.

Question 30

How much reserve cash do jumbo lenders require?

Accepted Answer

Expect 6-12 months of mortgage payments in reserves after closing. Higher loan amounts and multiple properties increase reserve requirements.

Question 31

Can I buy a Beverly Hills property as a second home?

Accepted Answer

Yes, second home loans require 10-20% down depending on loan amount. The property must be 50+ miles from your primary residence to qualify.

Question 32

What's a profit and loss statement loan?

Accepted Answer

P&L loans use a CPA-prepared profit and loss statement instead of tax returns. Self-employed buyers use them when tax returns understate actual income.

Question 33

Do I need an appraisal for Beverly Hills refinances?

Accepted Answer

Most jumbo refinances require full appraisals. Some lenders offer desktop appraisals under $2M if you have strong equity and credit.

Question 34

Can I assume an existing mortgage on a Beverly Hills home?

Accepted Answer

Conventional and jumbo loans aren't assumable. Only FHA, VA, and USDA loans allow assumptions, and those rarely apply to Beverly Hills price points.

Question 35

What if I'm self-employed for less than 2 years?

Accepted Answer

Bank statement loans only need 12 months of history. Some portfolio lenders go down to 6 months if you have strong credit and reserves.

Question 36

Are there mortgages for Beverly Hills homes over $10M?

Accepted Answer

Yes, but above $10M you'll work with private banks and portfolio lenders. Expect custom underwriting, 30% down, and significant liquid reserves.

Question 37

How do rate buydowns work on jumbo loans?

Accepted Answer

You can pay points upfront to lower your rate. Each point costs 1% of loan amount and typically reduces your rate by 0.25%.

Question 38

Can I use gift funds for my down payment?

Accepted Answer

Yes, but jumbo lenders limit gifts to 20-30% of down payment on primary homes. Investment properties typically require all your own funds.

Question 39

What's a hard money loan and when would I use it?

Accepted Answer

Hard money loans fund in 7-10 days based on property value, not your credit. Investors use them for fix-and-flip projects or quick closings.

Question 40

Do Beverly Hills mortgages require earthquake insurance?

Accepted Answer

Lenders don't require earthquake insurance, but most Beverly Hills buyers carry it. Standard policies exclude earthquake damage, so you'll buy separate coverage.

Beverly Hills Mortgage FAQs: Jumbo Loans, Luxury Financing & Local Market Guidance