Question 1

What credit score do I need for a portfolio ARM in La Mirada?

Accepted Answer

Most lenders require 620 minimum, but some accept 600 with larger down payments or strong liquid assets. Your exact terms depend on the full credit profile.

Question 2

How do adjustment caps work on these loans?

Accepted Answer

Typical structure caps each adjustment at 2-5% and lifetime increases at 5-10% above start rate. Specific caps vary by lender and loan structure.

Question 3

Can I use rental income to qualify for a La Mirada property?

Accepted Answer

Yes, most portfolio ARM lenders count rental income with a lease in place. DSCR loans may work better if the property cash flow is strong.

Question 4

What down payment do portfolio ARMs require?

Accepted Answer

Expect 15-25% down depending on credit, income type, and property use. Investment properties typically need 25% minimum.

Question 5

How long does portfolio ARM approval take in La Mirada?

Accepted Answer

Underwriting takes 10-20 days once we submit complete documentation. Appraisals near the 5 and 91 corridors usually come back within a week.

Portfolio ARMs in La Mirada: Flexible Financing Beyond Agency Guidelines