Rolling Hills Mortgage FAQs: Your Questions Answered by Local Experts

Jumbo loans and portfolio products dominate this market since most properties exceed conforming limits. We also see bank statement loans and asset depletion for buyers with substantial wealth but non-traditional income.

Jumbo lenders typically require 20% down for primary residences and 25-30% for investment properties. Larger down payments often unlock better rates on luxury estates.

Absolutely, and we see them frequently here. Business owners use 12-24 months of bank statements instead of tax returns, which works well for high-income earners with significant write-offs.

Most jumbo programs want 700 minimum, with 720+ unlocking the best rates. Rolling Hills properties justify stricter underwriting since loan amounts run high.

Expect 30-45 days for jumbo loans due to additional documentation and appraisal complexity. Estate properties with acreage or unique features add review time.

Technically yes, but price points here exceed FHA and VA loan limits by wide margins. These programs top out around $1.15 million in LA County.

Standard route requires two years of tax returns and a current profit and loss statement. Alternative programs use bank statements or asset depletion if tax returns show limited income.

Yes, through foreign national loan programs that don't require U.S. credit or tax returns. Expect 30-40% down and higher rates than domestic borrowers pay.

Rates vary by borrower profile and market conditions, but jumbo rates currently run close to conforming rates. Your credit score, down payment, and reserves impact your specific rate.

Lenders approve based on rental income versus mortgage payment, ignoring your personal income entirely. You need the property to generate enough rent to cover the loan.

Budget 2-3% of loan amount for lender fees, title, escrow, and appraisal. Jumbo appraisals run $1,000-2,500 depending on property size and complexity.

Not on jumbo loans. Lenders require full appraisals on high-value properties to verify collateral and ensure proper underwriting.

No PMI exists on jumbo loans. Put down less than 20% and you'll either pay a higher rate or take a piggyback second mortgage.

Conforming loans stay under $806,500 and follow Fannie Mae guidelines. Jumbo loans exceed that limit and use portfolio lending with stricter credit and reserve requirements.

Expect 6-12 months of mortgage payments in liquid reserves after closing. Higher loan amounts and lower credit scores push reserve requirements up.

Yes, bridge loans let you tap existing home equity for a new purchase. Rates run higher and terms max out at 12 months, but they solve timing gaps.

You pay only interest for 5-10 years, lowering initial payments significantly. Makes sense for buyers expecting income growth or planning to sell before the fixed term ends.

Perfectly suited for that scenario. Lenders divide investment accounts by 360 months to calculate qualifying income without requiring employment or tax returns.

You get a lower initial rate for 5, 7, or 10 years before annual adjustments begin. ARMs make sense if you'll sell or refinance before the rate adjusts.

Yes, ITIN loan programs exist for foreign nationals and non-residents. Expect larger down payments and higher rates than SSN-based programs offer.

Banks hold these loans instead of selling them, allowing more flexibility on underwriting. They work well for complex income scenarios that don't fit agency guidelines.

1099 loans use bank statements or alternative documentation instead of pay stubs. Independent contractors and gig workers use these when tax returns show limited income.

Most wholesale lenders start at $100,000, but jumbo specialists prefer loans above $1 million. Tiny loans cost lenders the same effort without meaningful revenue.

Construction loans cover land purchase plus build costs, converting to permanent financing when complete. You'll need detailed plans, contractor bids, and 20-25% down.

Appraisers must find comparable sales in similar luxury markets, which can extend timelines. Large lots and custom features require extra analysis and documentation.

You negotiate a lower price, bring extra cash to close, or cancel the deal. Lenders won't fund loans above appraised value regardless of contract price.

Some lenders offer float-down locks that protect you if rates drop during your search. Standard locks require a property address and signed purchase contract.

Lenders combine W-2 wages, rental income, investments, and business profits. Each income type has specific documentation and calculation requirements that affect your buying power.

HELOCs let you borrow against home equity as needed, paying interest only on what you draw. They work well for renovations or maintaining liquidity after a large purchase.

You can deduct interest on up to $750,000 of mortgage debt for primary and second homes combined. Consult your CPA since high-value properties often hit this cap.

Points cost 1% of loan amount per 0.25% rate reduction. Run the breakeven math: if you'll keep the loan past that point, buying down makes sense.

Lenders need the final decree and separation agreement showing debt allocation. If you're paying spousal support, that reduces qualifying income; if receiving it, some lenders count it.

Asset depletion or bank statement loans bypass employment history requirements. Your wealth and down payment matter more than job tenure with these programs.

Yes, monthly HOA dues count against your debt-to-income ratio. High association fees reduce how much house you can afford under lender guidelines.

We shop 200+ lenders to find the best rate and program for your scenario. Banks offer only their own products, which rarely fit complex income or high-value properties.