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Community Mortgages in Malibu
Malibu's median home prices exceed $3 million, making traditional financing a barrier for many buyers. Community mortgage programs offer flexible qualification paths that standard conventional loans don't provide.
These programs target buyers who face challenges with credit, income documentation, or down payment but have stable housing payment histories. Rates vary by borrower profile and market conditions.
Community mortgages typically accept credit scores from 580-620, lower than conventional minimums. You need proof of stable income and housing payment history for the past 12-24 months.
Down payments start at 3-5% depending on the program. Sellers can contribute toward closing costs, which helps stretch your cash reserves in an expensive market like Malibu.
Not every lender offers community mortgage programs, and those that do have different underwriting overlays. Shopping across our 200+ wholesale lenders finds programs your bank doesn't advertise.
Some lenders waive certain documentation requirements or accept alternative credit data. Others offer rate discounts for first-time buyers or specific neighborhoods.
Most Malibu properties exceed community mortgage loan limits, making these programs practical only for condos or mobile homes. I see buyers use them for entry-level coastal properties then refinance later.
The real value is flexible underwriting for self-employed buyers or those rebuilding credit. Standard conventional loans reject these profiles, but community programs look at full financial pictures.
FHA loans offer similar flexibility with 3.5% down and 580 credit scores. The difference: community mortgages often have lower mortgage insurance costs and more lenient debt-to-income ratios.
Conventional loans require 620+ credit and stricter income documentation. You pay less over time with conventional, but community mortgages get more buyers approved upfront.
Malibu's high property values limit where community mortgages work. Mobile home parks and older condo complexes represent the most realistic targets for these loan amounts.
Coastal properties face stricter appraisal requirements and insurance costs. Factor flood insurance and earthquake coverage into your budget—these add $200-500 monthly in Malibu.
Most programs accept 580-620 credit scores. Lenders review your full credit profile, not just the score, so strong payment history compensates for lower numbers.
Only if it falls under loan limits, which most beachfront properties exceed. These programs work better for condos, townhomes, or mobile homes in coastal communities.
You need 3-5% down depending on the specific program. Some allow seller contributions toward closing costs, reducing your cash needed at closing.
Some programs cap income at 80-120% of area median, but many don't have restrictions. We check eligibility across multiple programs to find the best fit.
Rates typically run 0.25-0.75% higher than conventional loans. The trade-off is easier qualification and lower down payment requirements for buyers who need flexibility.
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.
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.