Question 1

What makes a portfolio ARM different from a regular ARM?

Accepted Answer

The lender keeps it instead of selling it. That means they control the terms, not Fannie Mae or Freddie Mac.

Question 2

Are portfolio ARMs available for investment properties in Vallejo?

Accepted Answer

Yes. Many portfolio lenders actively target investor deals. Terms and rates will differ from owner-occupied loans.

Question 3

How long does the fixed rate period last?

Accepted Answer

Common options are 3, 5, 7, or 10 years. After that, the rate adjusts on a set schedule based on an index.

Question 4

Can I qualify without W-2 income?

Accepted Answer

Yes. Portfolio lenders often accept bank statements, asset depletion, or other non-traditional income documentation.

Question 5

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

Accepted Answer

Most lenders start at 620. Some go lower if you have strong reserves or a large down payment. Rates vary by borrower profile and market conditions.

Question 6

Is there a prepayment penalty on portfolio ARMs?

Accepted Answer

Some lenders include them, some don't. This is negotiable and critical to ask about before locking any loan.

Portfolio ARMs in Vallejo: Flexible Rates, Real Approvals