La Cañada Flintridge Mortgage FAQs: Your Complete Guide to Home Financing

Conventional loans start at 620, but jumbo lenders typically want 680-700 minimum. Higher scores unlock better rates and lower down payment requirements.

Jumbo loans typically require 10-20% down, depending on loan amount and credit profile. Primary residence purchases get better terms than investment properties.

FHA allows 580 credit and 3.5% down but caps at $1,149,825 in Los Angeles County. Conventional starts at 620 credit with 3% down and goes to any loan amount.

Not always. Borrowers with strong credit and 20%+ down often get jumbo rates competitive with conforming loans.

Standard purchases close in 30 days. Complex income documentation or multiple properties can extend that to 45 days.

Yes, through 1099 loans that verify income via deposits rather than tax returns. These work well for contractors and freelancers.

Two months bank statements, two years tax returns, recent pay stubs, and credit authorization. Self-employed borrowers need business returns too.

Bank statement loans use 12-24 months of deposits to calculate income. They ignore tax returns entirely, solving the write-off problem.

DSCR loans approve based on rental income, not personal income. Investors buying rental properties use these to avoid income documentation.

Absolutely. Bank statement, DSCR, and asset depletion loans all work here when traditional docs don't fit your situation.

Expect 2-4% of loan amount covering appraisal, title, escrow, and lender fees. Higher loan amounts mean higher dollar costs but similar percentages.

Only if you put down less than 20%. PMI on jumbo loans costs more than conforming but drops off at 20% equity.

Yes, through foreign national loans requiring 20-30% down. You don't need US credit history or Social Security number.

ITIN loans let you qualify using an Individual Taxpayer Identification Number instead of a Social Security number. Credit and income requirements still apply.

You pay only interest for 5-10 years, then switch to full payments. These help buyers manage cash flow on expensive properties.

15-year loans have lower rates but higher payments. Choose based on cash flow needs, not just interest savings.

ARMs offer lower initial rates that adjust after 3, 5, 7, or 10 years. They work for buyers planning to move or refinance soon.

Construction loans fund purchase and renovations in one package. Standard mortgages require properties to be habitable at closing.

Yes, but debt ratios tighten after 4 financed properties. Portfolio lenders handle 5+ mortgages better than standard agencies.

Bridge loans let you buy before selling your current home. They're short-term, higher-rate financing paid off at your old home's sale.

Asset depletion loans convert stocks, bonds, and retirement accounts into qualifying income. You don't have to liquidate anything.

Portfolio ARMs offer flexibility traditional lenders can't match on income docs, property types, or loan structures. Rates vary by borrower profile.

HELOCs give you a credit line secured by home equity. You draw funds as needed and pay interest only on what you use.

Points make sense if you're keeping the loan 5+ years. Calculate your breakeven before paying upfront fees for rate reductions.

You renegotiate price, increase down payment, or cancel the deal. Low appraisals happen when buyers overpay in hot markets.

Some lenders waive appraisals on strong borrower profiles and lower loan amounts. Jumbo loans almost always require full appraisals.

VA loans have no loan limit but require VA funding fees on amounts above $766,550. They're still a strong option for eligible veterans.

No. USDA loans require designated rural areas, and La Cañada Flintridge doesn't qualify under those maps.

Roughly $500K annual income with 20% down and no other debts. Actual requirements depend on debt ratios and loan structure.

Investment properties typically require 15-25% down. DSCR loans focus on rental income rather than down payment size.

We analyze your income structure, credit, assets, and property type across 200+ lenders. The right product emerges from that comparison.

High home prices push most buyers into jumbo territory. That means stricter credit requirements and larger reserves than conforming loans.

Yes. Sellers in this price range expect proof of financing before accepting offers, especially on competitive properties.

Rate locks typically last 30-60 days. Lock when you're in contract, not during pre-approval, unless rates are rising fast.

Some lenders accept one year of self-employment if you worked in the same field previously. Bank statement loans offer another path.

We focus on California properties where we know local lending requirements and can deliver the best execution.