Question 1

How long does the mortgage process take in Dixon?

Accepted Answer

Most purchases close in 21 to 30 days with complete documents. Missing paperwork is the top reason deals slow down.

Question 2

What documents do I need to apply for a mortgage?

Accepted Answer

Plan on two years of tax returns, two months of bank statements, and 30 days of pay stubs. Self-employed borrowers need more.

Question 3

What credit score do I need to buy in Dixon?

Accepted Answer

FHA accepts 580 with 3.5% down. Conventional loans typically need 620 or higher.

Question 4

Is Dixon a good place to buy right now?

Accepted Answer

Dixon offers more space per dollar than most of Solano County. The I-80 corridor keeps it connected to both Sacramento and the Bay Area.

Question 5

Does Dixon qualify for USDA loans?

Accepted Answer

Parts of Dixon and surrounding Solano County may qualify. USDA eligibility is address-specific — run your property through USDA's map before assuming.

Question 6

What is a USDA loan and who does it help?

Accepted Answer

USDA loans require zero down payment for eligible rural and suburban addresses. Income limits apply, and the property must be your primary residence.

Question 7

FHA vs Conventional — which is better for Dixon buyers?

Accepted Answer

FHA wins if your credit is below 680 or your down payment is under 10%. Conventional beats FHA once you have strong credit and 10%+ down.

Question 8

What are the FHA loan limits for Solano County?

Accepted Answer

Solano County FHA limits are set annually by HUD. Ask us for the current limit — it directly affects your max purchase price with 3.5% down.

Question 9

What is a conforming loan?

Accepted Answer

A conforming loan meets Fannie Mae and Freddie Mac size and credit standards. Loans above those limits are called jumbo loans and require stricter qualification.

Question 10

Do I need a jumbo loan to buy in Dixon?

Accepted Answer

Most Dixon price points fall within conforming limits. If you're buying a larger property or acreage, jumbo territory is possible.

Question 11

What is a VA loan and can I use it in Dixon?

Accepted Answer

VA loans are for active military, veterans, and eligible surviving spouses. They require zero down and no PMI — strong option for qualified Dixon buyers.

Question 12

Can I get a bank statement loan in Dixon?

Accepted Answer

Yes. Bank statement loans use 12 to 24 months of deposits instead of tax returns to qualify income. Built for self-employed borrowers.

Question 13

What is a 1099 loan?

Accepted Answer

A 1099 loan qualifies you using 1099 income forms instead of full tax returns. Good fit for contractors and gig workers with strong gross income.

Question 14

What is a DSCR loan and who uses it in Dixon?

Accepted Answer

DSCR loans qualify investors on rental income, not personal income. If a Dixon rental property covers its own mortgage, you can likely qualify.

Question 15

What is an ITIN loan?

Accepted Answer

ITIN loans serve borrowers who pay taxes with an Individual Taxpayer ID instead of a Social Security number. No citizenship required.

Question 16

What is an asset depletion loan?

Accepted Answer

Lenders calculate income by dividing your assets over a set period. Useful for retirees or borrowers with high net worth but low monthly income.

Question 17

What is a bridge loan?

Accepted Answer

A bridge loan is short-term financing that lets you buy a new home before selling your current one. Expect higher rates — it's a temporary tool.

Question 18

What is a portfolio ARM?

Accepted Answer

Portfolio ARMs are adjustable-rate loans held by the lender instead of sold to investors. Terms are more flexible than standard ARM products.

Question 19

How much do I need for a down payment in Dixon?

Accepted Answer

USDA and VA allow zero down. FHA requires 3.5%. Conventional loans start at 3% for qualified first-time buyers.

Question 20

What are closing costs and how much should I expect?

Accepted Answer

Closing costs typically run 2% to 5% of the loan amount. They include lender fees, title, escrow, and prepaid items like property taxes.

Question 21

Can the seller pay my closing costs in Dixon?

Accepted Answer

Yes. Seller concessions are negotiable. Limits vary by loan type — VA allows up to 4%, FHA up to 6%, conventional varies by down payment.

Question 22

What is PMI and when can I remove it?

Accepted Answer

PMI is private mortgage insurance required when you put less than 20% down on a conventional loan. You can cancel it once you hit 20% equity.

Question 23

Do FHA loans have mortgage insurance?

Accepted Answer

Yes. FHA charges an upfront premium plus monthly mortgage insurance. Unlike PMI, FHA insurance stays for the life of the loan in most cases.

Question 24

What is a HELOC and how does it work?

Accepted Answer

A HELOC — home equity line of credit — lets you borrow against your home's equity as needed. It works like a credit card with your home as collateral.

Question 25

What is a home equity loan?

Accepted Answer

A home equity loan gives you a lump sum using your equity as collateral. Rate and payment are fixed, unlike a HELOC's variable draw period.

Question 26

What is a reverse mortgage and who qualifies?

Accepted Answer

Reverse mortgages are for homeowners 62 and older. You draw equity without monthly payments — the loan is repaid when you sell or move out.

Question 27

What is a construction loan?

Accepted Answer

A construction loan funds the building process in draws as work is completed. You typically refinance into a permanent mortgage when the home is done.

Question 28

What is an interest-only loan?

Accepted Answer

You pay only interest for a set period — often 5 to 10 years. Payments are lower upfront, but you build no equity during the interest-only phase.

Question 29

What is a profit and loss statement loan?

Accepted Answer

Lenders accept a CPA-prepared P&L instead of tax returns to verify income. Common for business owners who show limited income on returns.

Question 30

What is a community mortgage?

Accepted Answer

Community mortgage programs often have income limits and offer reduced fees or down payment assistance. Designed to help moderate-income buyers.

Question 31

What is an adjustable-rate mortgage?

Accepted Answer

An ARM starts with a fixed rate for a set period — like 5 or 7 years — then adjusts based on market indexes. Rate caps limit how much it can move.

Question 32

What is a foreign national loan?

Accepted Answer

Foreign national loans serve buyers without U.S. residency or credit history. Expect higher down payments and stricter reserve requirements.

Question 33

How does a broker differ from a bank for Dixon buyers?

Accepted Answer

A bank offers its own products only. We shop across 200+ wholesale lenders to match your profile with the best available rate and program.

Question 34

What is a hard money loan?

Accepted Answer

Hard money loans are short-term, asset-based loans used by investors. Approval is based on property value — not your income or credit score.

Question 35

What is an equity appreciation loan?

Accepted Answer

Some lenders share in your home's future appreciation in exchange for better terms today. Read the structure carefully — it's not a standard mortgage.

Question 36

How is my debt-to-income ratio calculated?

Accepted Answer

DTI is your total monthly debt divided by gross monthly income. Most conventional loans cap DTI at 45%, though some programs allow higher.

Question 37

Can I buy in Dixon if I'm self-employed?

Accepted Answer

Yes. Bank statement loans, 1099 loans, and P&L loans are all built for self-employed borrowers. Tax write-offs can hurt you on standard loans.

Question 38

What happens after I submit my mortgage application?

Accepted Answer

The lender orders an appraisal and sends your file to underwriting. Underwriting reviews every document before issuing a clear to close.

Question 39

What is a rate lock and should I use one?

Accepted Answer

A rate lock protects your quoted rate for a set period — usually 30 to 60 days. If rates rise before closing, you're protected.

Question 40

Does SRK CAPITAL lend in Dixon?

Accepted Answer

Yes. We're California mortgage brokers licensed to work statewide, including Solano County. We shop rates across 200+ wholesale lenders for Dixon buyers.

Dixon, CA Mortgage FAQs — Real Answers From a Broker