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Portfolio ARMs in Temple City
Temple City attracts self-employed professionals and real estate investors who need loans that don't fit Fannie Mae boxes. Portfolio ARMs work here because lenders make their own rules.
These loans stay on a bank's books instead of getting sold to investors. That means underwriters can approve deals conventional lenders reject outright.
Most portfolio ARM lenders want 20-25% down and credit scores above 660. They'll verify income through bank statements, 1099s, or rental property cash flow instead of W-2s.
Debt-to-income ratios matter less here than your actual cash flow. If you show consistent deposits, you can qualify even with irregular income patterns.
About 15-20 of our lenders offer portfolio ARMs, each with different rate structures and adjustment caps. Some start with 3-year fixed periods, others offer 5 or 7 years.
Rates typically run 0.5-1.5% higher than conforming ARMs at origination. The trade-off is getting approved when traditional lenders say no.
I use portfolio ARMs for Temple City buyers planning to sell or refinance within 5-7 years. The adjustable rate risk matters less when you have an exit strategy.
These loans shine for 1031 exchange buyers who need fast closings or self-employed borrowers tired of fighting with conventional underwriters. Ask about prepayment penalties before committing.
Bank statement loans offer similar flexibility with fixed rates, while DSCR loans skip personal income entirely for investment properties. Portfolio ARMs make sense when you want the lowest possible start rate.
Standard ARMs beat portfolio products on rate if you can qualify conventionally. The portfolio version exists for borrowers who can't check every Fannie Mae box.
Temple City's housing stock includes many older homes that appraisers can flag for condition issues. Portfolio lenders often approve properties conventional underwriters reject.
The city's mix of owner-occupants and investors creates demand for both primary residence and investment property portfolio ARMs. Lenders price these differently based on occupancy.
Most adjust annually after the initial fixed period ends. Adjustment caps typically limit increases to 2% per year and 5-6% over the loan life.
Yes, but check your loan docs for prepayment penalties. Many portfolio ARMs charge 2-3% if you refinance in the first 3 years.
Most want 6-12 months of mortgage payments in reserves. Investment properties typically require higher reserves than primary residences.
Lenders accept 12-24 months of bank statements, profit and loss statements, or 1099 forms. They calculate income from average deposits.
Yes, most lenders go up to 4 units. Expect higher rates and down payments for properties with 3-4 units.
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.
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.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
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.