Question 1

What credit score do I need for a portfolio ARM in Del Rey Oaks?

Accepted Answer

Most lenders want 660 or higher. A few will go to 620 if you put 30% down and have strong assets.

Question 2

How much higher are portfolio ARM rates compared to conventional?

Accepted Answer

Expect 1-2 percentage points above agency rates. Exact pricing depends on your down payment and credit profile.

Question 3

Can I refinance a portfolio ARM into a conventional loan later?

Accepted Answer

Yes, if your income documentation improves or you build enough equity. Most borrowers refinance within 3-5 years.

Question 4

Do portfolio ARM lenders require tax returns?

Accepted Answer

Not always. Some use bank statements, others rely purely on assets. Requirements vary by lender and loan amount.

Question 5

What happens when the rate adjusts on a portfolio ARM?

Accepted Answer

Your rate changes based on an index plus a margin. Check your loan docs for annual and lifetime caps.

Portfolio ARM Loans in Del Rey Oaks: Flexible Financing Beyond Agency Guidelines