Your Belvedere Mortgage Questions Answered by Experienced Brokers

Jumbo loans here typically require 20% down, though some lenders go to 10% with higher rates. Conventional financing under conforming limits allows 3-5% down, but few Belvedere properties qualify.

Standard purchases close in 30 days. Jumbo loans with complex income or multi-property portfolios can add 5-10 days for underwriting.

Jumbo lenders want 700 minimum, preferably 740+. Lower scores mean higher rates or larger down payments, sometimes both.

Not always. Bank statement loans use 12-24 months of deposits instead of tax returns. Works well for business owners who write off significant income.

Debt Service Coverage Ratio loans qualify based on rental income, not personal income. Investors buying Belvedere properties as vacation rentals use these frequently.

Yes. Foreign national loans require 30-40% down and don't need US credit history or Social Security numbers. We close these regularly for international buyers.

Conforming loans max out at $806,500 in most counties for 2025. Anything above needs jumbo financing with stricter credit and reserve requirements.

Expect 6-12 months of housing payments in reserves after closing. Higher loan amounts or multiple properties push that toward 12-18 months.

Depends on your cash flow priorities. 15-year rates run about 0.50% lower, but monthly payments jump 40-50% compared to 30-year terms.

Two years tax returns, 60 days bank statements, recent pay stubs if W-2. Self-employed borrowers add business returns and possibly a P&L statement.

7-year and 10-year ARMs price about 0.75% below 30-year fixed rates. Makes sense if you'll sell or refinance within that timeframe.

Yes. Asset depletion loans let you qualify using investment accounts without liquidating. They calculate monthly income from your total portfolio value.

Budget 2-3% of purchase price. Includes lender fees, title insurance, escrow, and appraisal. Jumbo loans sometimes add slightly higher appraisal costs.

No. Put 20% down and you avoid PMI entirely. That's one advantage jumbo loans have over conforming financing with smaller down payments.

You pay only interest for 5-10 years, then payments jump when principal starts amortizing. Popular with buyers expecting income growth or near-term property sales.

Yes. Lenders average 12-24 months of deposits and apply a percentage as qualifying income. Rates run 0.50-1.00% higher than full-doc loans.

Portfolio ARMs are held by the lender instead of sold. They offer flexible underwriting for complex income situations with competitive initial rates.

Bridge loans let you buy before selling your current home. Terms run 6-12 months with interest-only payments and rates 2-3% above conventional mortgages.

Yes. ITIN loans work for borrowers without Social Security numbers. Expect 15-20% down and slightly higher rates than conventional financing.

We shop 200+ lenders to match your income structure to the best program. Banks only offer their own products, which rarely fit complex financial profiles.

1099 loans use gross income from your forms without the deductions tax returns show. You'll need 12-24 months of consistent 1099 history.

Fast closings or properties that won't qualify for traditional financing. Rates start at 9-12% with terms under 12 months, mainly for fix-and-flip investors.

Yes. Construction-to-permanent loans cover land, building costs, and convert to standard mortgages at completion. Expect 20-25% down on total project cost.

Rarely. VA loans max out at $1,149,825 in high-cost counties for 2025. Few Belvedere properties fall under that threshold.

HELOCs offer revolving credit lines with variable rates. Home equity loans provide lump sums at fixed rates. Both require significant existing equity.

P&L loans use year-to-date business income verified by a CPA. Faster than waiting for tax returns, but rates run slightly higher than full documentation.

The lender shares in your home's future appreciation in exchange for better rates or terms now. Uncommon in Belvedere given strong conventional options.

Yes, if you're 62+ and have substantial equity. Reverse mortgages convert home equity to cash without monthly payments. Loan comes due when you sell or pass.

Active bankruptcy, foreclosure within 24 months, or current 90-day late payments. Most other issues can work with the right loan program and compensating factors.

You can lock rates for 30-60 days at no cost. Longer locks cost 0.125-0.25% per 15-day extension. Rates vary by borrower profile and market conditions.

Each point costs 1% of the loan amount and drops your rate about 0.25%. Makes sense if you'll keep the loan beyond the break-even point, typically 4-6 years.

Lenders cap housing payments at 43% of gross monthly income for most programs. Some portfolio loans stretch to 50% with strong reserves and credit.

Major foundation issues, active liens, or zoning violations. Properties needing significant repairs often require renovation loans or hard money instead.

FHA and VA loans are assumable with lender approval. Conventional loans almost never allow assumptions. In practice, few Belvedere loans qualify for assumption.

Community mortgages offer flexible underwriting for unique borrower situations. They balance traditional credit factors with other financial strengths for approval.