Question 1

Is San Juan Bautista eligible for USDA loans?

Accepted Answer

San Juan Bautista's rural character makes it a strong candidate for USDA eligibility. Run the address through the USDA property eligibility map to confirm before assuming.

Question 2

What credit score do I need to buy in San Juan Bautista?

Accepted Answer

FHA loans require a 580 minimum with 3.5% down. Conventional loans typically need 620 or higher.

Question 3

How much do I need for a down payment?

Accepted Answer

USDA and VA loans require zero down. FHA needs 3.5%. Conventional can go as low as 3% for qualified buyers.

Question 4

What loan types are available in San Benito County?

Accepted Answer

We offer 25+ programs here — FHA, VA, USDA, conventional, jumbo, DSCR, bank statement, and more. The right one depends on your income type and property.

Question 5

Can I get a USDA loan for a property inside San Juan Bautista city limits?

Accepted Answer

Possibly. USDA eligibility depends on the specific address, not just the city name. Check the official USDA map or ask us to run it.

Question 6

What is a conforming loan limit for San Benito County?

Accepted Answer

Conforming loan limits are set by the FHFA and adjust annually. As of April 2026, confirm the current San Benito County limit before pricing your loan.

Question 7

Do I need a jumbo loan to buy in San Juan Bautista?

Accepted Answer

Probably not. San Benito County prices are lower than Bay Area markets. Most purchases here fall under conforming limits.

Question 8

What documents do I need to apply for a mortgage?

Accepted Answer

Expect two years of tax returns, two months of bank statements, pay stubs, and a government-issued ID. Self-employed borrowers need additional documentation.

Question 9

How long does it take to close a home loan?

Accepted Answer

Most purchase loans close in 21 to 30 days. USDA loans can take longer — budget 45 to 60 days for those.

Question 10

I'm self-employed. Can I still get a mortgage in San Juan Bautista?

Accepted Answer

Yes. Bank statement loans, 1099 loans, and P&L statement loans are built exactly for this. You don't need W-2s to qualify.

Question 11

What is a bank statement loan?

Accepted Answer

Instead of tax returns, lenders review 12 to 24 months of bank statements to calculate your income. This works well for self-employed borrowers whose returns understate earnings.

Question 12

What is a DSCR loan and who uses it in San Benito County?

Accepted Answer

DSCR stands for Debt Service Coverage Ratio. Investors use it — qualification is based on rental income, not personal income.

Question 13

Are VA loans available in San Juan Bautista?

Accepted Answer

Yes. Any eligible veteran, active-duty service member, or surviving spouse can use a VA loan here. No down payment required.

Question 14

What is the VA funding fee?

Accepted Answer

The VA funding fee varies by down payment amount and whether it's your first VA loan use. Most first-time users putting nothing down pay around 2.15%.

Question 15

How does FHA compare to conventional for first-time buyers?

Accepted Answer

FHA is easier to qualify for but carries mortgage insurance for the life of the loan. Conventional PMI drops off once you hit 20% equity.

Question 16

What is PMI and when do I have to pay it?

Accepted Answer

PMI is private mortgage insurance. On conventional loans, you pay it when your down payment is under 20%. It cancels automatically at 78% loan-to-value.

Question 17

What are typical closing costs in California?

Accepted Answer

California buyers typically pay 2% to 3% of the loan amount in closing costs. That covers lender fees, title, escrow, and prepaid items.

Question 18

Can closing costs be rolled into my loan?

Accepted Answer

On refinances, sometimes yes. On purchases, seller concessions can cover some costs. Rolling them into the purchase price requires a higher appraised value.

Question 19

What is an ARM loan and should I consider one?

Accepted Answer

An ARM (adjustable rate mortgage) starts with a fixed rate for a set period, then adjusts. It can make sense if you plan to sell or refinance within 5 to 7 years.

Question 20

What is a bridge loan and when does it help?

Accepted Answer

A bridge loan lets you tap your current home's equity to buy before you sell. It's a short-term solution — typically 6 to 12 months.

Question 21

Can I buy a fixer-upper with a special loan?

Accepted Answer

Yes. Construction loans and certain renovation products can finance the purchase and repairs together. The property condition affects which programs apply.

Question 22

What is a portfolio ARM?

Accepted Answer

Portfolio ARMs are loans lenders keep in-house rather than sell to Fannie or Freddie. They offer more flexibility on underwriting for non-standard borrowers.

Question 23

Do I need to be a U.S. citizen to get a mortgage?

Accepted Answer

No. ITIN loans serve borrowers without Social Security numbers. Foreign national loans exist for non-resident buyers as well.

Question 24

What is an ITIN loan?

Accepted Answer

An ITIN loan uses your Individual Taxpayer Identification Number in place of a Social Security number. It opens homeownership to borrowers who are ineligible for traditional loans.

Question 25

What is an asset depletion loan?

Accepted Answer

Lenders calculate income by dividing your liquid assets over a set number of months. This helps retirees or high-net-worth borrowers with limited monthly income qualify.

Question 26

Can a senior use a reverse mortgage in San Juan Bautista?

Accepted Answer

Yes, if they're 62 or older and own their home with sufficient equity. A reverse mortgage converts that equity into cash without monthly payments.

Question 27

What is a home equity line of credit (HELOC)?

Accepted Answer

A HELOC is a revolving credit line secured by your home equity. You borrow what you need, when you need it, up to your approved limit.

Question 28

How is a HELoan different from a HELOC?

Accepted Answer

A HELoan gives you a lump sum at a fixed rate. A HELOC is a revolving line with a variable rate. Both use your home as collateral.

Question 29

What is a hard money loan?

Accepted Answer

Hard money loans are asset-based and fund fast — sometimes in days. Investors use them when speed matters more than rate, like a distressed property purchase.

Question 30

Does San Juan Bautista have any historic property considerations?

Accepted Answer

Yes. Historic properties can have appraisal and renovation financing challenges. Lenders want clean title and habitable condition — historic status adds complexity.

Question 31

What is a community mortgage?

Accepted Answer

Community mortgages are niche programs targeting underserved borrowers or specific geographic areas. Qualification rules differ from standard Fannie/Freddie guidelines.

Question 32

What is an equity appreciation loan?

Accepted Answer

This product lets you access a portion of your home's future appreciation in exchange for a share of equity gains at sale. No monthly payments are required.

Question 33

What is a profit and loss loan?

Accepted Answer

A P&L loan uses a CPA-prepared profit and loss statement instead of tax returns. It's designed for self-employed borrowers with complex financials.

Question 34

How does a 1099 loan work?

Accepted Answer

Lenders average 12 to 24 months of 1099 forms to calculate income. No tax returns needed — ideal for independent contractors and freelancers.

Question 35

What is an interest-only mortgage?

Accepted Answer

You pay only the interest for a set period, typically 5 to 10 years. Monthly payments are lower early on, but the principal doesn't reduce during that phase.

Question 36

How many lenders does SRK CAPITAL work with?

Accepted Answer

We have access to 200+ wholesale lenders. That lets us shop your file across programs and find the pricing and terms that fit your situation.

Question 37

What's the difference between a mortgage broker and a bank?

Accepted Answer

A bank offers its own products only. A broker like SRK CAPITAL shops across many lenders to find better rates and programs for your specific profile.

Question 38

What income qualifies for a mortgage if I have rental properties?

Accepted Answer

Rental income can count, but lenders typically apply a 25% vacancy factor. DSCR loans qualify purely on the property's rental income, not your personal taxes.

Question 39

Should I lock my rate or float it?

Accepted Answer

Rate locks protect you from increases during the loan process. Floating makes sense if rates are trending down and you can absorb the risk.

Question 40

What is a mortgage point?

Accepted Answer

One point equals 1% of the loan amount paid upfront to buy down your rate. It makes sense if you plan to stay in the home long enough to recoup the cost.

Question 41

How do I get preapproved to buy in San Juan Bautista?

Accepted Answer

We pull your credit and review income and assets to issue a preapproval letter. The process usually takes less than 48 hours with a complete file.

San Juan Bautista Mortgage FAQs — Real Answers from a CA Broker