Question 1

Who are community mortgages designed for?

Accepted Answer

They serve borrowers in underserved areas with non-traditional income or credit histories. Farmworkers and seasonal employees are common fits.

Question 2

Do I need perfect credit to qualify?

Accepted Answer

No. Community programs use flexible credit criteria. Requirements vary by lender and program.

Question 3

Can seasonal farm income be used to qualify?

Accepted Answer

Often yes. Many community programs accept alternative income documentation. This is one area where they outperform conventional loans.

Question 4

Is Greenfield eligible for USDA loans too?

Accepted Answer

Parts of Greenfield and surrounding Monterey County may qualify for USDA rural programs. A broker can check your specific address.

Question 5

How does a broker help with community mortgage programs?

Accepted Answer

Brokers access wholesale lenders who actually carry these programs. Retail banks rarely offer them.

Question 6

Are community mortgages considered non-QM loans?

Accepted Answer

No. Most community mortgage programs are qualified mortgages. They follow federal lending rules while allowing flexible eligibility criteria.

Community Mortgages in Greenfield, CA