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Mountain House Mortgage FAQ
Mountain House sits in San Joaquin County with master-planned neighborhoods and newer construction. Most buyers here need conventional or FHA loans, though we close plenty of bank statement and DSCR deals for investors.
We answer hundreds of mortgage questions each month from Mountain House buyers. These FAQs cover what actually matters when you're getting approved.
SRK CAPITAL shops 200+ lenders to find rates and programs that fit your situation. We know which underwriters approve Mountain House properties fast and which ones drag their feet.
Conventional loans need 620 minimum, FHA accepts 580. Most Mountain House buyers with 640+ get approved without issues.
FHA requires 3.5% down, conventional allows 3% for first-time buyers. VA and USDA loans offer zero down if you qualify.
Most Mountain House purchases close in 25-35 days. New construction can take 45-60 days if the home isn't finished.
Yes, most Mountain House properties meet FHA standards. Newer construction typically passes inspection without repairs needed.
Bring two years of tax returns, two months of pay stubs, and bank statements. Self-employed buyers need profit and loss statements plus business bank accounts.
Yes, we close investor loans regularly here. DSCR loans don't require income verification if the rental covers the payment.
You pay PMI on conventional loans under 20% down. FHA charges mortgage insurance regardless of down payment amount.
Rates vary by borrower profile and market conditions. Your credit score, down payment, and loan type affect your specific rate.
Yes, VA loans work well here with zero down payment. San Joaquin County has no VA loan limits for qualified borrowers.
Prices shift frequently based on inventory and rates. Contact us for current market data from active Mountain House listings.
A 30-year loan keeps payments low and fits most budgets. Choose 15-year if you can afford higher payments and want equity faster.
California offers down payment assistance through CalHFA. Some programs combine with FHA or conventional loans for 3% down.
Yes, we approve self-employed borrowers with bank statement or 1099 loans. You need 12-24 months of deposits showing consistent income.
Expect 2-5% of the purchase price for closing costs. Lender fees, title insurance, and escrow charges all add up.
Yes, ARMs start with lower rates than fixed loans. They make sense if you plan to sell or refinance within five years.
Yes, lenders require appraisals to confirm property value. Mountain House homes usually appraise at contract price due to newer construction.
DSCR loans approve based on rental income, not your W-2. Investors buying Mountain House rentals use these to avoid tax return requirements.
Yes, most loan programs accept gift funds from family. You need a gift letter stating the money doesn't require repayment.
Yes, jumbo loans cover purchases above conforming limits. They require higher credit scores and larger down payments than conventional loans.
Lenders want your total debts under 43% of gross income. FHA allows up to 50% with strong credit and reserves.
Most lenders let you lock once you're under contract. Rate locks typically last 30-45 days during closing.
Pre-approval means a lender verified your income and credit. Pre-qualification is just an estimate based on what you told them.
Yes, second home loans require 10% down minimum. Lenders verify you have income to cover both mortgage payments.
Yes, bank statement and asset depletion loans skip tax returns. These work for self-employed buyers or retirees with investment accounts.
San Joaquin County base rate is around 1.1%, plus Mello-Roos in Mountain House. Your total housing payment includes these taxes in escrow.
Yes, you can refinance anytime to lower your rate or pull cash out. Most borrowers wait until rates drop at least 0.5% to make it worthwhile.
Portfolio ARMs come from smaller lenders with flexible guidelines. They work for non-traditional income situations or unique properties.
Most Mountain House homes sit outside flood zones. Your lender orders a flood determination during underwriting to confirm.
Yes, foreign national loans require 30-40% down. You don't need a Social Security number, just valid visa and bank statements.
ITIN loans let borrowers without Social Security numbers get mortgages. You need an Individual Taxpayer Identification Number and standard documentation.
Yes, construction loans cover lot purchase and building costs. Most require 20% down and convert to permanent financing when construction finishes.
Yes, home equity lines let you borrow against existing equity. You need 15-20% equity remaining after the HELOC draws.
Bridge loans cover down payments before your current home sells. They cost more than regular mortgages but prevent contingent offers.
Interest-only loans let you skip principal payments for 5-10 years. Investors use these to maximize cash flow on rental properties.
Points make sense if you're keeping the loan over five years. Each point costs 1% of the loan and drops your rate about 0.25%.
Recent bankruptcies, foreclosures, or unpaid collections cause denials. Most lenders want two years since bankruptcy and three years after foreclosure.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.