Question 1

What loan types are available for buying in Larkspur?

Accepted Answer

We offer conventional, jumbo, FHA, VA, bank statement, DSCR, bridge, and more. Larkspur's price range means jumbo loans are the most common fit.

Question 2

Do FHA loans work for Larkspur home purchases?

Accepted Answer

FHA loan limits in Marin County cap well below most Larkspur list prices. Most buyers here end up needing jumbo or conventional financing instead.

Question 3

What credit score do I need to buy in Larkspur?

Accepted Answer

Conventional loans require a 620 minimum. For jumbo loans — which most Larkspur buyers need — lenders typically want 700 or higher.

Question 4

How much down payment is required for a Larkspur home?

Accepted Answer

Conventional loans allow as little as 5% down. Jumbo loans often require 10–20%, depending on the loan size and your credit profile.

Question 5

What is a jumbo loan and why does it matter in Larkspur?

Accepted Answer

A jumbo loan exceeds the conforming loan limit set by the FHFA. In Marin County, most purchases require jumbo financing given the area's price points.

Question 6

What is the conforming loan limit for Marin County?

Accepted Answer

Marin County qualifies for a high-cost conforming limit above the national baseline. Loans below that limit get conventional rates — anything above goes jumbo.

Question 7

How long does the mortgage process take in Larkspur?

Accepted Answer

A standard purchase loan closes in 21–30 days with complete documents. Jumbo loans sometimes run 30–45 days due to additional underwriting steps.

Question 8

What documents do I need to apply for a mortgage?

Accepted Answer

Expect to provide two years of tax returns, W-2s, 60 days of bank statements, and pay stubs. Self-employed borrowers may substitute bank statements for tax returns.

Question 9

Can self-employed buyers qualify for a mortgage in Larkspur?

Accepted Answer

Yes. Bank statement loans and 1099 loans are built for exactly this situation. Lenders use 12–24 months of deposits instead of tax returns to verify income.

Question 10

What is a bank statement loan?

Accepted Answer

It's a loan that uses your personal or business bank deposits to prove income — not tax returns. Strong fit for Larkspur's high concentration of self-employed professionals.

Question 11

Are there loans for buyers without a Social Security number?

Accepted Answer

Yes. ITIN loans allow buyers with an Individual Taxpayer Identification Number to qualify. Foreign National loans cover non-resident buyers purchasing property in the U.S.

Question 12

What is an asset depletion loan?

Accepted Answer

Lenders calculate income by dividing your liquid assets over a set period — typically the loan term. Retirees and high-net-worth buyers in Larkspur use these often.

Question 13

What is a bridge loan and when does it make sense?

Accepted Answer

A bridge loan lets you tap your current home's equity to buy before you sell. Useful in Larkspur when you find the right property and can't wait on a sale.

Question 14

What is a DSCR loan?

Accepted Answer

DSCR stands for Debt Service Coverage Ratio. These loans qualify investors based on rental income — not personal income. No tax returns required.

Question 15

Can investors buy rental property in Larkspur using a DSCR loan?

Accepted Answer

Yes. Marin County rentals can generate strong income, and DSCR loans are designed for exactly that use case. We shop DSCR rates across many lenders.

Question 16

What is an interest-only loan?

Accepted Answer

You pay only interest for a set period — typically 5–10 years — then principal kicks in. It lowers your monthly payment early, which matters at Larkspur price points.

Question 17

Are adjustable rate mortgages (ARMs) a good idea in Marin County?

Accepted Answer

ARMs start lower than fixed rates and can make sense if you plan to sell or refinance in 5–7 years. Rates vary by borrower profile and market conditions.

Question 18

What is a portfolio ARM?

Accepted Answer

Portfolio ARMs are held by the lender — not sold to investors — which allows more flexible underwriting. They work well for buyers with complex financial profiles.

Question 19

What is a home equity line of credit (HELOC)?

Accepted Answer

A HELOC lets you borrow against your home's equity as needed, like a credit line. Many Larkspur homeowners use them for renovations or buying additional property.

Question 20

What is a reverse mortgage and who qualifies?

Accepted Answer

Homeowners 62 and older can convert home equity into tax-free cash without monthly payments. Marin County's high home values make reverse mortgages particularly valuable here.

Question 21

Do VA loans work for buying in Larkspur?

Accepted Answer

VA loans have no loan limit for eligible veterans with full entitlement. That makes them one of the few zero-down options viable at Marin County price levels.

Question 22

What is the VA funding fee?

Accepted Answer

It's a one-time fee added to your VA loan — typically 1.25–3.3% of the loan amount. Some veterans with service-connected disabilities are exempt from this fee.

Question 23

Are USDA loans available in Larkspur?

Accepted Answer

USDA loans are restricted to eligible rural areas. Larkspur does not qualify. Buyers needing low-down-payment options should look at FHA, VA, or conventional alternatives.

Question 24

What are closing costs in Marin County?

Accepted Answer

Expect 2–3% of the purchase price in closing costs. On a high-dollar Larkspur transaction, that adds up fast — budget for it alongside your down payment.

Question 25

Can closing costs be rolled into the loan?

Accepted Answer

Not on a purchase loan. Sellers can credit closing costs up to a point — ask your agent to negotiate seller concessions when the deal allows it.

Question 26

What is PMI and how do I avoid it?

Accepted Answer

PMI — private mortgage insurance — applies when you put less than 20% down on a conventional loan. Putting 20% down or using a piggyback loan eliminates it.

Question 27

What is a construction loan?

Accepted Answer

Construction loans fund building or major renovation in stages as work is completed. They convert to a permanent mortgage once construction is done.

Question 28

Can I use a construction loan to build in Larkspur?

Accepted Answer

Yes, though Marin's permitting process adds time to any construction project. A lender experienced with California construction loans is essential here.

Question 29

What is a profit and loss statement loan?

Accepted Answer

Business owners without two full years of tax returns can use a CPA-prepared P&L to document income. It's a practical option for newer self-employed borrowers.

Question 30

What is a 1099 loan?

Accepted Answer

Designed for independent contractors and freelancers. Lenders use 1–2 years of 1099 forms to calculate income — no W-2s or tax returns required.

Question 31

What is an equity appreciation loan?

Accepted Answer

These products share a portion of your home's future appreciation in exchange for favorable terms today. They can work well in a high-appreciation market like Marin.

Question 32

What is a community mortgage?

Accepted Answer

Community mortgage programs target underserved buyers with reduced PMI or flexible income guidelines. They vary by lender — ask us which options apply to your situation.

Question 33

How does a hard money loan work?

Accepted Answer

Hard money loans are short-term and asset-based — approval depends on the property value, not your credit. Investors and fix-and-flip buyers use them most often.

Question 34

How do mortgage brokers differ from banks in Larkspur?

Accepted Answer

A bank offers its own rates. We shop your file across 200+ wholesale lenders. That competition typically produces better rates and more loan options for the borrower.

Question 35

How do I get pre-approved for a mortgage in Larkspur?

Accepted Answer

Submit income docs, bank statements, and authorization for a credit pull. We review your file and issue a pre-approval — typically within 24–48 hours.

Question 36

What's the difference between pre-qualification and pre-approval?

Accepted Answer

Pre-qualification is an estimate based on self-reported data. Pre-approval means we've verified your documents — it carries far more weight with Larkspur sellers.

Question 37

Does my debt-to-income ratio affect approval?

Accepted Answer

Yes. Most conventional loans cap DTI at 45–50%. Jumbo lenders often want 43% or lower. High Larkspur prices make managing DTI critical.

Question 38

Can I buy in Larkspur with a co-borrower?

Accepted Answer

Yes. Adding a co-borrower's income can increase your purchase power. The lender will use both credit scores — typically the lower middle score drives the rate.

Question 39

What happens to my mortgage rate if I lock it?

Accepted Answer

A rate lock holds your quoted rate for a set period — usually 30–45 days. If closing is delayed, you may pay to extend the lock.

Question 40

Is Larkspur competitive for buyers right now?

Accepted Answer

As of April 2026, Marin County remains a high-demand, low-inventory market. Buyers with strong pre-approvals and clean financing move faster and win more offers.

Question 41

How do I choose between a fixed-rate and adjustable-rate mortgage?

Accepted Answer

Fixed rates give you payment certainty for the life of the loan. ARMs start lower and make sense if you have a shorter hold period. Rates vary by borrower profile and market conditions.

Mortgage FAQs for Larkspur, CA — Real Answers from a Marin Broker