Loading
Portfolio ARMs in Whittier
Whittier's mix of older homes and investor properties creates steady demand for portfolio ARMs. These loans work when your credit profile or income documentation doesn't fit Fannie Mae boxes.
Portfolio lenders keep these loans on their own books instead of selling them. That means they write their own rules on credit scores, income verification, and property types.
Most portfolio ARM lenders want 640+ credit, though some go lower with compensating factors. You'll need 15-25% down for owner-occupied properties, 25-30% for rentals.
Income documentation varies by lender. Bank statements, 1099s, asset depletion, or even stated income programs exist. Rate adjusts after a fixed period, typically 3, 5, or 7 years.
We access 40+ portfolio lenders through our network. Each has different appetites for credit events, property conditions, and income types.
Terms vary dramatically between lenders. One might cap at 1M loan amount while another goes to 3M. Rate adjustment caps differ too—some offer 2/2/5 structures, others 5/2/5.
Portfolio ARMs shine for self-employed borrowers who write off too much income for conventional approval. I've closed deals for business owners showing 50K income on tax returns but depositing 20K monthly.
Rates run 0.75-2% higher than agency ARMs depending on your risk factors. That premium buys flexibility. Recent credit events, irregular income, or unique properties all work here.
Compare this to bank statement loans if you're self-employed with steady deposits. DSCR loans work better for pure investment plays where you don't want personal income involved.
Fixed-rate portfolio loans exist but typically cost another 0.5-1% in rate. The ARM structure keeps initial payments lower while you prove income stability or rehab a property.
Whittier's older housing stock means portfolio ARMs often finance properties needing foundation work or electrical updates. Conventional lenders balk at deferred maintenance—portfolio lenders price it in.
The Uptown area attracts investors doing light rehabs. Portfolio ARMs let you close quickly with less documentation, then refinance to conventional once the property's updated and rented.
Most programs cap at 2% per adjustment and 5% lifetime. Your margin plus index determines the new rate. We review adjustment scenarios before you lock.
Yes, most borrowers refinance during the initial fixed period. No prepayment penalties if you hold the loan 36 months or longer.
Some do, some don't. Bank statement and asset qualifier programs skip tax returns entirely. We match you to the right documentation type.
Most lenders avoid major land leases and properties over 2 acres. Mixed-use and non-warrantable condos typically work fine.
Every 20 points below 720 costs roughly 0.25-0.5% in rate. Compensate with higher down payment to improve pricing.
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.