Question 1

What loan types are most common in Tiburon?

Accepted Answer

Jumbo loans are the default here. Most Tiburon homes exceed conforming loan limits, so expect non-agency underwriting.

Question 2

What is the conforming loan limit in Marin County?

Accepted Answer

Marin County qualifies for high-balance conforming limits. Anything above that threshold requires a jumbo loan.

Question 3

How is buying in Tiburon different from other Marin cities?

Accepted Answer

Tiburon has a tighter inventory and a more affluent buyer pool. Sellers expect strong pre-approvals, not pre-qual letters.

Question 4

Can self-employed buyers get a mortgage in Tiburon?

Accepted Answer

Yes. Bank statement loans and P&L loans are built for this. You skip tax returns and qualify on actual cash flow.

Question 5

What credit score do I need to buy in Tiburon?

Accepted Answer

Jumbo lenders typically want 700 or above. Some portfolio lenders go lower, but expect higher rates in exchange.

Question 6

How much down payment is required for a jumbo loan?

Accepted Answer

Most jumbo lenders require 10-20% down. Some portfolio programs allow less, but pricing gets aggressive below 20%.

Question 7

What is a jumbo loan exactly?

Accepted Answer

A jumbo loan exceeds the conforming loan limit set by Fannie Mae and Freddie Mac. These loans follow each lender's own rules.

Question 8

Do I need mortgage insurance on a jumbo loan?

Accepted Answer

Usually no. Jumbo loans typically avoid PMI if you put down 20%. Some lenders waive it at lower down payments.

Question 9

What is a bank statement loan?

Accepted Answer

Instead of tax returns, lenders use 12-24 months of bank statements to verify income. Common for business owners.

Question 10

What is an asset depletion loan?

Accepted Answer

Lenders calculate income by dividing your liquid assets over a set number of months. No employment required.

Question 11

Are interest-only loans available in Tiburon?

Accepted Answer

Yes. Many jumbo lenders offer interest-only periods of 5-10 years. Monthly payments start lower, then adjust.

Question 12

What is a portfolio ARM loan?

Accepted Answer

A portfolio ARM is held by the lender, not sold to investors. Underwriting is more flexible than agency guidelines.

Question 13

Can I use a bridge loan to buy before selling my current home?

Accepted Answer

Yes. A bridge loan taps your current home's equity to fund the new purchase. It buys you time without contingencies.

Question 14

How does a bridge loan work in a competitive market?

Accepted Answer

You borrow against your departing home, close on the new one without a sale contingency, then repay when you sell.

Question 15

Are FHA loans realistic in Tiburon?

Accepted Answer

Rarely. Tiburon prices almost always exceed FHA loan limits. Sellers also tend to avoid FHA offers when they have options.

Question 16

Can veterans use a VA loan to buy in Tiburon?

Accepted Answer

Eligible veterans can use VA loans with no down payment required. At Tiburon prices, most will need a jumbo VA product.

Question 17

What is a jumbo VA loan?

Accepted Answer

It combines VA benefits with jumbo underwriting. You may need a small down payment above the standard VA entitlement limit.

Question 18

What documents do I need to get pre-approved?

Accepted Answer

Standard docs include two years of tax returns, two months of bank statements, and recent pay stubs. Self-employed buyers need more.

Question 19

How long does mortgage pre-approval take?

Accepted Answer

A solid pre-approval takes 24-72 hours with complete documents. Incomplete files drag that out significantly.

Question 20

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

Accepted Answer

Pre-qual is a quick estimate with no verification. Pre-approval means your income and assets are actually reviewed.

Question 21

How long does it take to close a jumbo loan?

Accepted Answer

Plan for 30-45 days. Some portfolio lenders move faster. Complex income situations can push timelines longer.

Question 22

What are typical closing costs in Marin County?

Accepted Answer

Expect 1-3% of the loan amount in closing costs. Title and escrow fees in Marin run higher than many California counties.

Question 23

Who pays closing costs in a Tiburon home purchase?

Accepted Answer

Typically the buyer covers loan costs, and both sides pay their respective title fees. Seller concessions are rare here.

Question 24

What is a rate buydown and should I use one?

Accepted Answer

You pay points upfront to lower your interest rate. It makes sense if you plan to hold the loan past the break-even point.

Question 25

What is PMI and when is it required?

Accepted Answer

PMI stands for private mortgage insurance. Conventional lenders require it when your down payment is below 20%.

Question 26

Can I get a HELOC on a Tiburon property?

Accepted Answer

Yes, and Tiburon equity positions are typically strong. Most lenders go up to 85-90% combined loan-to-value on HELOCs.

Question 27

What is a home equity loan versus a HELOC?

Accepted Answer

A home equity loan is a fixed lump sum. A HELOC is a revolving credit line. Both use your home as collateral.

Question 28

Can investors finance rental property in Tiburon?

Accepted Answer

Yes. DSCR loans qualify based on rental income, not personal income. No W-2 or tax return required.

Question 29

What is a DSCR loan?

Accepted Answer

DSCR stands for debt service coverage ratio. The property's rent must cover the mortgage payment to qualify.

Question 30

Are there loans for foreign nationals buying in Tiburon?

Accepted Answer

Yes. Foreign national loans don't require a U.S. credit history or SSN. Down payments are typically 25-30%.

Question 31

Can ITIN holders get a mortgage in Tiburon?

Accepted Answer

Yes. ITIN loans are available for borrowers without a Social Security number. Documentation requirements vary by lender.

Question 32

What is a 1099 loan?

Accepted Answer

A 1099 loan uses your contractor or freelance income to qualify — no tax returns needed. Great for gig workers.

Question 33

What is a construction loan for a Tiburon property?

Accepted Answer

A construction loan funds building or major renovation. Funds are released in draws as work is completed.

Question 34

What is a reverse mortgage and who qualifies?

Accepted Answer

Reverse mortgages are available to homeowners 62 and older. You tap equity without monthly payments due.

Question 35

What is a P&L loan?

Accepted Answer

A profit and loss statement loan uses a CPA-prepared P&L to verify income. No tax returns, no W-2s required.

Question 36

Does SRK CAPITAL work with Tiburon buyers directly?

Accepted Answer

Yes. We're a California mortgage broker with access to 200+ wholesale lenders. We find the best fit, not just the closest option.

Question 37

Why use a broker instead of going directly to a bank?

Accepted Answer

A bank offers its own products only. We shop across 200+ wholesale lenders to find pricing banks can't match.

Question 38

What is a conforming loan versus a conventional loan?

Accepted Answer

All conforming loans are conventional, but not vice versa. Conforming loans follow Fannie/Freddie guidelines and limits.

Question 39

How do adjustable-rate mortgages work?

Accepted Answer

ARMs start with a fixed rate for 3, 5, 7, or 10 years, then adjust annually. They often start lower than fixed rates.

Question 40

When does an ARM make sense in Tiburon?

Accepted Answer

If you plan to sell or refinance within 7 years, an ARM can save money versus locking a higher 30-year fixed rate.

Mortgage FAQs for Tiburon, CA Homebuyers