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San Diego County just completed its biggest year of low-income housing construction, signaling sustained demand across the region. El Cajon sits in the middle of this activity, where buyers are competing for homes in the $800,000 to $1,100,000 range.
Portfolio Arms offer rate flexibility for buyers who plan to sell or refinance within five to seven years. These loans start with a fixed period, then adjust annually based on market conditions.
680+
Typical FICO Minimum
10–20%
Down Payment Range
3, 5, 7, or 10 years
Fixed Period Options
$102,285
County Median Income
Portfolio ARMs in El Cajon
Portfolio Arms typically require a 680+ FICO score and 10% to 20% down payment. Lenders look at your debt-to-income ratio, employment history, and reserves to approve the loan.
San Diego County's median household income is $102,285, which supports homes in the $700,000 to $900,000 range comfortably. Your actual qualification depends on your specific income, debts, and the loan amount you're seeking.
Local decision guide
Use this guide to connect portfolio arms eligibility, lender expectations, and local market factors before comparing payment options in El Cajon.
San Diego County just completed its biggest year of low-income housing construction, signaling sustained demand across the region. El Cajon sits in the middle of this activity, where buyers are competing for homes in the $800,000 to $1,100,000 range.
Portfolio Arms offer rate flexibility for buyers who plan to sell or refinance within five to seven years. These loans start with a fixed period, then adjust annually based on market conditions.
Portfolio Arms typically require a 680+ FICO score and 10% to 20% down payment. Lenders look at your debt-to-income ratio, employment history, and reserves to approve the loan.
California lenders offer Portfolio Arms through both retail banks and mortgage brokers. Broker-sourced loans often close faster and carry more flexible overlays than large bank portfolios.
Portfolio Arms are less common than 30-year fixed loans, so your options are narrower. Expect a 30- to 45-day close and rate locks of 30 to 60 days. Call for current terms and adjustment caps.
Portfolio Arms make sense in El Cajon if you're planning to sell within five to seven years or refinance when rates drop. The lower starting rate saves money upfront compared to a 30-year fixed.
They're risky if you plan to stay long-term and rates climb sharply. The adjustment caps protect you, but a 2% jump in year six still raises your payment meaningfully. Get the exact caps and margin before committing.
A 30-year fixed locks your rate and payment for life, but starts higher than a Portfolio ARM. You pay for certainty with a bigger monthly bill from day one.
A Portfolio ARM trades that certainty for a lower opening rate. After the fixed period, your rate adjusts annually. If rates stay flat or fall, you win. If they spike, your payment climbs.
San Diego is seeking delays to state law requiring high-rise housing near transit stops. That policy shift affects long-term supply and affordability across the county, including El Cajon.
The Galū Cafe team is opening a sister location in City Heights this fall. New dining and retail investment signals neighborhood confidence and can support property values over time.
A Portfolio ARM has a fixed rate for the first 3, 5, 7, or 10 years, then adjusts annually. A fixed mortgage locks the same rate for 30 years. ARMs start lower but carry adjustment risk after the fixed period ends.
Yes. You can refinance anytime, but it makes most sense if rates drop significantly. Refinancing costs money upfront, so you need enough rate savings to break even within your holding timeline.
Your payment adjusts based on the index plus the lender's margin. Adjustment caps limit how much the rate can rise per year and over the loan's life. Review these caps carefully before locking.
Probably not. If you're staying 10+ years, a 30-year fixed is safer. ARMs work best for buyers who sell or refinance within the fixed period. Long-term rate risk outweighs the opening-rate savings.
Most lenders require 680+ FICO for Portfolio Arms. Some may go lower with compensating factors like strong reserves or lower debt-to-income. Call to discuss your specific credit profile.