Question 1

What loan types are available in Corte Madera?

Accepted Answer

We offer 25+ loan programs here — from conventional and jumbo to bank statement and DSCR loans. Marin's price points mean you'll likely need a jumbo or non-QM product.

Question 2

What counts as a jumbo loan in Marin County?

Accepted Answer

Any loan above the conforming limit — currently $832,750 for most counties — is jumbo. In Corte Madera, most purchases exceed that threshold.

Question 3

How much do I need to put down in Corte Madera?

Accepted Answer

Jumbo lenders typically want 10–20% down. FHA allows 3.5% down, but price points here often exceed FHA limits.

Question 4

What credit score do I need to buy in Corte Madera?

Accepted Answer

Conventional loans require a 620 minimum. Jumbo lenders usually want 700 or higher. Better scores mean better rates — rates vary by borrower profile and market conditions.

Question 5

How long does it take to close a mortgage here?

Accepted Answer

Most purchases close in 21–30 days. Complex loans — jumbo, construction, or self-employed — can take 30–45 days.

Question 6

What documents do I need to apply?

Accepted Answer

W-2 borrowers need two years of tax returns, 30 days of pay stubs, and two months of bank statements. Self-employed borrowers need 12–24 months of bank statements or a P&L.

Question 7

Can self-employed buyers get approved in Corte Madera?

Accepted Answer

Yes. Bank statement loans use 12–24 months of deposits instead of tax returns. We close these regularly for Marin County borrowers.

Question 8

What is a bank statement loan?

Accepted Answer

It's a loan where income is calculated from your bank deposits — not your tax returns. It's built for self-employed borrowers whose write-offs reduce taxable income.

Question 9

What is a DSCR loan and who uses it here?

Accepted Answer

DSCR stands for Debt Service Coverage Ratio. It qualifies investors based on rental income from the property — not personal income. Popular for Marin rental properties.

Question 10

Are FHA loans practical in Corte Madera?

Accepted Answer

FHA loan limits in Marin County are high, but most Corte Madera homes still exceed them. FHA makes more sense for lower-priced properties in the county.

Question 11

What is the FHA loan limit in Marin County?

Accepted Answer

As of April 2026, the FHA limit in Marin County is $1,249,125 for a single-family home. That covers some properties here, but not most.

Question 12

Do VA loans work in Corte Madera?

Accepted Answer

Yes. VA loans have no loan limit for eligible veterans with full entitlement. That makes them powerful in high-cost markets like Corte Madera.

Question 13

What is a conforming loan?

Accepted Answer

A conforming loan stays within Fannie Mae and Freddie Mac limits — $832,750 in most areas as of April 2026. Rates are typically lower than jumbo.

Question 14

What is an ARM loan and does it make sense here?

Accepted Answer

An ARM (Adjustable Rate Mortgage) has a fixed rate for 5, 7, or 10 years, then adjusts. In high-cost markets, ARMs can lower your initial payment significantly.

Question 15

What is a bridge loan?

Accepted Answer

A bridge loan lets you tap your current home's equity to buy a new one before you sell. It's useful in fast-moving markets where you can't wait to close.

Question 16

What is an asset depletion loan?

Accepted Answer

Lenders calculate income by dividing your liquid assets over a set period. It works for retirees or high-net-worth buyers with assets but low monthly income.

Question 17

Can I use a HELOC on a Corte Madera property?

Accepted Answer

Yes. HELOCs let you draw from your equity as needed, like a credit line. Marin homes carry significant equity, making HELOCs a strong option here.

Question 18

What is a reverse mortgage and who qualifies?

Accepted Answer

Borrowers 62 and older can convert home equity into cash without monthly payments. Given home values in Corte Madera, reverse mortgages can free up serious liquidity.

Question 19

What are typical closing costs in Corte Madera?

Accepted Answer

Expect 2–3% of the loan amount in closing costs. On a $1.5M loan, that's $30,000–$45,000. Some lenders offer no-cost options by rolling fees into the rate.

Question 20

What is PMI and how do I avoid it?

Accepted Answer

PMI is private mortgage insurance — required on conventional loans with less than 20% down. You can avoid it with a 20% down payment or a piggyback second mortgage.

Question 21

What is a piggyback loan?

Accepted Answer

It's two loans at once — typically an 80% first mortgage and a 10% second — so you put 10% down without paying PMI. We structure these regularly.

Question 22

How does a rate buydown work?

Accepted Answer

You pay discount points upfront to lower your interest rate. One point equals 1% of the loan amount. It makes sense if you plan to stay in the home long-term.

Question 23

What is a portfolio ARM loan?

Accepted Answer

Portfolio ARMs are held by the lender — not sold to Fannie or Freddie. That means more flexible underwriting, which helps non-traditional borrowers in high-cost markets.

Question 24

What is an ITIN loan?

Accepted Answer

ITIN loans serve borrowers who have a taxpayer ID but not a Social Security number. We have lenders who approve these for Marin County purchases.

Question 25

What is a foreign national loan?

Accepted Answer

Foreign nationals without U.S. credit history can still buy in Corte Madera. These loans use foreign income and assets and typically require 25–30% down.

Question 26

What is a construction loan?

Accepted Answer

It funds the building of a home in phases as work is completed. Once done, it converts to a permanent mortgage. Marin's custom home market makes these common.

Question 27

What is a 1099 loan?

Accepted Answer

1099 loans use contractor income — not W-2s — to qualify. If you earn 1099 income and write off expenses, this avoids the tax return trap.

Question 28

What is a profit and loss loan?

Accepted Answer

A CPA-prepared P&L statement is used instead of tax returns to verify income. It's a fast path for self-employed borrowers with strong business cash flow.

Question 29

What is an interest-only loan?

Accepted Answer

You pay only interest for a set period — usually 5–10 years — with no principal reduction. It lowers your monthly payment now but doesn't build equity.

Question 30

What is a hard money loan?

Accepted Answer

Hard money loans are short-term, asset-based loans funded by private lenders. They close fast and work for fix-and-flip deals or when speed matters most.

Question 31

Are USDA loans available in Corte Madera?

Accepted Answer

No. USDA loans are for rural areas. Corte Madera is an urban Marin market and does not qualify for USDA eligibility.

Question 32

What neighborhoods in Corte Madera are most competitive?

Accepted Answer

Corte Madera is a small town — most areas see strong demand. Properties near downtown and the waterfront tend to move fastest with the least negotiation.

Question 33

Should I get pre-approved before searching in Marin?

Accepted Answer

Yes, and a full underwrite is better than a basic pre-approval. Marin sellers expect buyers to be ready. A weak pre-approval won't hold up in a competitive offer.

Question 34

How is buying in Corte Madera different from other Bay Area cities?

Accepted Answer

Marin offers suburban scale with top schools and low inventory. That combination keeps demand high and gives sellers pricing power year after year.

Question 35

How do I compare FHA vs. conventional loans here?

Accepted Answer

Conventional is usually better in Corte Madera. FHA has mortgage insurance that lasts the loan's life unless you put 10% down. Conventional PMI drops off at 20% equity.

Question 36

What is the difference between a fixed and adjustable rate?

Accepted Answer

Fixed rates stay the same for the loan term. ARMs start lower and adjust after a set period. In high-price markets, the ARM savings upfront can be substantial.

Question 37

Can I get a mortgage with a recent job change?

Accepted Answer

Yes, if you're in the same field and it's a pay increase. Lenders want two years of job history — but industry consistency matters more than job tenure.

Question 38

What debt-to-income ratio do lenders want?

Accepted Answer

Most lenders cap DTI — total monthly debt divided by gross income — at 43–50%. Jumbo lenders are sometimes stricter, wanting 43% or below.

Question 39

How do I lock my interest rate?

Accepted Answer

You lock once you're in contract and have a lender selected. Locks typically run 30–60 days. Rates vary by borrower profile and market conditions.

Question 40

Why work with a broker instead of a bank in Corte Madera?

Accepted Answer

We shop your file across 200+ wholesale lenders simultaneously. A bank can only offer its own programs — that's a narrow view in a complex market like Marin.

Corte Madera Mortgage FAQs: Real Answers From a Marin Broker