Question 1

Can I use short-term rental income to qualify?

Accepted Answer

Some portfolio lenders accept projected STR income. It depends on the lender's guidelines — not all do, but options exist.

Question 2

How long does the initial rate period last?

Accepted Answer

Most portfolio ARMs offer 3, 5, 7, or 10-year fixed periods before adjusting. Choose based on how long you plan to hold.

Question 3

Do condotel units qualify for portfolio ARMs?

Accepted Answer

Often yes. Portfolio lenders aren't bound by Fannie/Freddie property rules. Condotels that fail conventional review can still get done.

Question 4

What credit score do I need?

Accepted Answer

No universal minimum — each lender sets its own floor. Strong reserves and equity often offset a lower score.

Question 5

What happens when the ARM adjusts?

Accepted Answer

Rate caps limit how much it can move per adjustment and over the loan's life. Your lender discloses these before closing.

Question 6

Is a portfolio ARM right for a vacation property?

Accepted Answer

It can be. If you plan to hold 5–7 years, the initial fixed period often covers your full ownership timeline.

Portfolio ARMs in Mammoth Lakes: Flexible Financing for a Mountain Market