Glendale Mortgage FAQs: Your Questions Answered by Local Experts

Conventional loans start at 3% down for primary homes, FHA at 3.5%. Investment properties need 15-25% depending on the loan program.

FHA approves at 580, conventional at 620. We have bank statement and DSCR programs that work with scores as low as 660 for the right borrower.

Most conventional and FHA loans close in 25-35 days. Hard money and bridge loans can close in 7-10 days if you need speed.

Glendale typically prices between Burbank and Pasadena. You pay for location, schools, and walkable neighborhoods near Brand and downtown.

W-2 earners need two years tax returns, recent paystubs, and bank statements. Self-employed borrowers add business returns or can use bank statement programs.

Yes. We offer bank statement loans, 1099 loans, and profit-loss programs specifically for business owners and contractors.

FHA allows lower credit scores and smaller down payments but requires mortgage insurance for life on minimal-down loans. Conventional drops PMI at 80% loan-to-value.

Only if you put down less than 20% on conventional or use FHA. PMI costs 0.3-1.5% annually depending on credit and down payment.

Expect 2-4% of the purchase price. That includes lender fees, title insurance, escrow, appraisal, and recording fees in Los Angeles County.

Only if you'll keep the loan five years or longer. Each point costs 1% upfront and typically drops your rate 0.25%.

Yes. VA loans require no down payment and no PMI, but you need veteran status and a certificate of eligibility.

Any loan above $806,500 in Los Angeles County is jumbo. These require stronger credit, larger reserves, and typically 10-20% down.

Rates depend on your credit, loan type, and down payment, not location. Glendale buyers get the same rate as anyone in LA County with identical profiles.

Only if the complex is FHA-approved. Many newer buildings aren't certified, so conventional becomes your only option.

DSCR loans qualify based on rental income, not personal income. Investors buying multi-family or rental properties use these frequently.

Lenders use 12-24 months of business deposits instead of tax returns. Perfect for self-employed borrowers who write off most income.

Yes. We work with programs requiring US bank accounts and 20-30% down, no US credit history needed.

Hard money or bridge loans close in 7-14 days. You pay higher rates but get certainty in competitive situations.

Most Glendale properties sit outside flood zones. Your lender orders a flood determination during underwriting to confirm.

ARMs offer lower initial rates that adjust after 5, 7, or 10 years. Smart if you'll sell or refinance before adjustment.

Yes on conventional and FHA loans. The donor provides a gift letter confirming the money doesn't require repayment.

Pre-qualification is an estimate. Pre-approval means we've verified income, credit, and assets—sellers take you seriously.

Most lenders approve debt-to-income ratios up to 43-50%. Your mortgage payment shouldn't exceed 28-30% of gross monthly income.

Recent foreclosure, bankruptcy, unpaid collections, or tax liens. Most issues become approvable after 2-4 years with rebuilt credit.

Yes, once you hit 20% equity. We can appraise your home to prove value gains and refinance into a no-PMI loan.

Non-conforming adjustable loans held by individual lenders. These work for borrowers who don't fit conventional boxes.

It's not required but smart. California Earthquake Authority offers policies, though most lenders don't mandate coverage.

Qualification based on dividing investment accounts by loan term. Retirees with assets but low monthly income use these.

Yes. ITIN loans require work history, tax returns filed with ITIN, and typically 15-20% down.

You renegotiate price, bring extra cash to close, or walk if you have an appraisal contingency. Low appraisals kill deals regularly.

15-year loans save massive interest but double your monthly payment. Take the 30-year if cash flow matters more than total cost.

We shop your scenario across 200+ wholesale lenders simultaneously. You get whoever prices your exact profile most competitively that day.

Construction loans fund ground-up builds or major renovations. They convert to permanent financing once the project completes.

Yes, up to four units if you occupy one. FHA offers the lowest down payment option for small investors starting out.

A revolving credit line against your home equity. You draw and repay as needed, paying interest only on the borrowed amount.

Most lenders require escrow unless you put down 20% or more. Escrow means your payment includes taxes and insurance automatically.

Rate locks guarantee your rate for 30-60 days. Lock when you're in contract and happy with the rate offered.

Only if they have an FHA or VA loan originated before recent policy changes. Most conventional loans aren't assumable.

Short-term financing to buy before you sell your current home. Expensive but solves timing problems in competitive markets.

FHA requires two years post-discharge, conventional needs four years. Some portfolio lenders work with shorter timeframes.