Question 1

What credit score do I need for a portfolio ARM in Dorris?

Accepted Answer

Most lenders start at 640, but we place borrowers at 600-620 with 20%+ down payments. Rates vary by borrower profile and market conditions.

Question 2

How do ARM rate adjustments work on portfolio loans?

Accepted Answer

After the initial fixed period, rates adjust based on an index plus margin. Caps limit how much rates can increase per adjustment and over the loan life.

Question 3

Can I use bank statements instead of tax returns?

Accepted Answer

Yes, most portfolio ARM lenders accept 12-24 months of business or personal bank statements. They calculate income from deposits rather than taxable income.

Question 4

Do portfolio ARMs work for investment properties in Siskiyou County?

Accepted Answer

Absolutely, but expect 20-30% down and slightly higher rates. Lenders focus on rental income potential and your liquidity reserves for vacancy periods.

Question 5

What happens if my ARM adjusts when rates are higher?

Accepted Answer

Rate caps limit payment shock. Most ARMs have 2% per-adjustment and 5% lifetime caps, meaning your rate cannot spike dramatically in one period.

Question 6

Can cryptocurrency count toward my down payment or reserves?

Accepted Answer

Some portfolio lenders now accept verified crypto holdings as reserves or assets. Each lender sets different requirements for valuation and liquidity verification.

Portfolio ARMs in Dorris: Flexible Financing for Non-Traditional Borrowers