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Conventional Loans in Tiburon
Tiburon's waterfront properties and hillside estates put most buyers in jumbo territory. Conventional loans work when you're buying a condo or smaller home under the conforming limit.
This loan type gives you options for second homes and investment properties. Tiburon attracts buyers who want both primary residences and vacation properties near the Bay.
Conventional financing offers the best rates if you bring 20% down and strong credit. That's standard for Marin County buyers competing in multiple-offer scenarios.
You need 620 minimum credit, but Tiburon sellers expect 740+. Lower scores get approved but face rate penalties that cost thousands over the loan term.
Conventional loans allow 3% down for first-time buyers. In Tiburon's market, that rarely wins against cash-heavy competition.
Debt-to-income ratios cap at 50% with strong compensating factors. Your housing payment plus other debts can't exceed half your gross monthly income.
Not all lenders price conventional loans the same in Marin County. Rate differences of 0.375% are common between wholesale and retail channels.
Credit unions offer relationship pricing but fewer property types. Banks have strict condo approval requirements that kill deals on Tiburon's older complexes.
Portfolio lenders keep loans in-house and bend on issues like high HOA fees. That matters in Tiburon where waterfront associations run $1,500+ monthly.
Most Tiburon buyers switching from jumbo to conventional don't realize they're giving up rate advantages. Conforming loans sometimes price higher than jumbo due to local market dynamics.
The 2-4 unit property angle gets overlooked here. Conventional allows 85% financing on duplexes if you occupy one unit.
Waiving appraisal works under $1 million with 20% down and strong credit. That's a 10-day closing advantage when competing against cash buyers.
Your property insurance costs more in Tiburon than the state average. Lenders calculate that into qualifying ratios, so budget an extra $200-300 monthly.
FHA loans allow 3.5% down but require upfront and monthly mortgage insurance you can't remove. Conventional drops PMI at 20% equity through appreciation or paydown.
Jumbo loans dominate Tiburon because conforming limits top out at $806,500 for 2025. If you're buying above that, conventional doesn't apply.
ARMs make sense for borrowers who expect income increases or plan to sell within 7 years. Tiburon's market attracts move-up buyers who fit that profile.
Tiburon's condo complexes built before 1990 face warrantability issues. Lenders require 10% owner-occupancy and specific reserve levels that some HOAs don't meet.
Waterfront properties carry flood zone designations that require separate insurance. Factor $2,000-5,000 annually into your housing costs before applying.
Marin County transfer taxes add 1.1% to closing costs in Tiburon. That's $11,000 on a million-dollar purchase, affecting your cash-to-close calculation.
Belvedere borders create confusion on tax rates and school assignments. Verify which jurisdiction your property falls under before locking rates.
$806,500 for single-family homes. Anything above that requires jumbo financing, which covers most Tiburon properties.
Yes, with 15-25% down depending on unit count. Conventional allows up to 10 financed properties per borrower.
PMI costs 0.3-1.5% annually with under 20% down. It drops automatically at 78% loan-to-value or by request at 80%.
Only if the HOA meets Fannie Mae warrantability standards. Pre-1990 buildings and those with deferred maintenance often fail review.
740+ gives you best execution pricing. Lower scores work but cost 0.25-0.75% in rate, weakening your offer against other buyers.
Possible under $1 million with 20% down, 740+ credit, and automated approval. Saves 7-10 days in closing timeline.
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.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
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.
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.