Windsor Mortgage FAQs: Your Complete Guide to Home Loans in Sonoma County

Most purchase loans close in 21-30 days if you're responsive with documents. Refinances can close faster, sometimes in 14 days, since there's no purchase contract deadline.

FHA loans start at 580 credit. Conventional loans prefer 620 minimum, but jumbo lenders often want 700+ for properties over $800K.

FHA requires 3.5%, conventional allows 3-5%, and jumbos typically want 10-20%. Larger down payments eliminate PMI and lower your monthly payment.

Pre-qualification is an estimate based on what you tell us. Pre-approval involves credit checks, income verification, and a commitment letter that sellers actually respect.

Many Windsor homes exceed the conforming limit of $766,550, requiring jumbo loans. We place jumbo loans daily for Sonoma County buyers.

Bring two years of tax returns, recent pay stubs, two months of bank statements, and a photo ID. Self-employed borrowers need profit and loss statements too.

Yes, through bank statement loans or P&L programs that use business deposits instead of tax returns. We place these loans weekly for entrepreneurs and contractors.

We shop 200+ lenders instead of offering one bank's rates. That means better pricing, more loan options, and access to programs traditional banks won't touch.

PMI applies to conventional loans with under 20% down. FHA loans charge mortgage insurance regardless of down payment, but you can avoid it entirely with 20% down conventional.

Families target the Foothill neighborhoods for good schools. Newer developments near Hembree Village attract commuters, while east Windsor offers more acreage and privacy.

30-year loans offer lower payments and flexibility. 15-year mortgages build equity faster and save thousands in interest, but monthly payments run 40-50% higher.

Yes, if you're a qualifying veteran or active military. VA loans allow zero down, no PMI, and competitive rates even on higher-priced Sonoma County homes.

Expect 2-4% of the loan amount, covering appraisal, title, escrow, lender fees, and prepaid taxes. On a $700K loan, budget $14K-$28K for closing.

ARMs offer lower initial rates that adjust after a fixed period, like 5 or 7 years. They make sense if you plan to move or refinance before the adjustment hits.

Yes, through DSCR loans that qualify based on rental income, not your W-2. We also offer conventional investor loans with 15-25% down for rental properties.

Bank statement loans use 12-24 months of deposits to prove income instead of tax returns. They're built for self-employed borrowers who write off most of their income.

Windsor offers more space than Santa Rosa at slightly lower prices, making it popular with first-timers. FHA and low-down conventional loans work well here.

If your loan amount exceeds $766,550, it's jumbo. Most single-family homes in Windsor fall into this range, requiring jumbo-specific underwriting and rates.

Some lenders offer float-down locks, but most rates lock after you're in contract. Rates vary by borrower profile and market conditions, so timing matters.

DSCR loans qualify you based on property cash flow, not personal income. They're ideal for investors buying Windsor rentals who don't want to show tax returns.

FHA 203k and conventional renovation loans let you finance repairs into the mortgage. For heavy rehabs, hard money or construction loans make more sense.

FHA allows lower credit and smaller down payments but charges mortgage insurance forever on minimum-down loans. Conventional drops PMI at 20% equity and offers better rates for strong borrowers.

Yes, through ITIN loans for taxpayers without Social Security numbers or foreign national loans for non-residents. Both require larger down payments than conventional loans.

Lenders want your total debt payments under 43-50% of gross monthly income. On a $4,000 mortgage, you'd need roughly $8,000-$9,000 monthly income minimum.

Bridge loans let you buy before selling your current home. They're short-term, higher-rate loans that get paid off once your old property closes.

Base rates are the same statewide, but loan size, property type, and credit score affect your final rate. Jumbo loans in higher-priced markets like Windsor sometimes carry slight premiums.

Yes, most loan programs allow gifted down payments from family. You'll need a gift letter stating the money doesn't require repayment.

We offer asset depletion loans, 1099 programs, and portfolio products for non-traditional borrowers. Hard money works for tough situations, though rates run higher.

Paying points makes sense if you'll keep the loan past the break-even period, usually 3-5 years. Most Windsor buyers skip points unless they're certain they'll stay long-term.

HELOCs let you tap equity as needed with lower rates than credit cards. They're useful for renovations, debt consolidation, or keeping cash available for opportunities.

No, Windsor doesn't qualify as a USDA rural area under current maps. You'll need FHA, VA, or conventional financing instead.

Sonoma County property tax runs around 1.1% annually. On a $700K home, expect $640 monthly in taxes rolled into your payment through escrow.

Interest-only loans let you pay just interest for 5-10 years before principal payments kick in. They suit high-income borrowers who invest the payment difference elsewhere.

Yes, and you should. Sellers prioritize pre-approved buyers in competitive situations, and you'll know exactly what price range makes sense.

Recent bankruptcy, foreclosure, or short sale creates waiting periods of 2-7 years depending on loan type. Unpaid collections and judgments must be resolved before closing.

It depends on your down payment, credit, income type, and how long you'll keep the home. We analyze your situation against all 200+ lenders to find the best fit.

Conforming loans stay under $766,550 and meet Fannie Mae or Freddie Mac guidelines. They work for condos and lower-priced Windsor homes, offering the best rates.

Yes, if rates drop or your credit improves enough to offset closing costs. We compare your current rate against new options across all our lenders.

You'll need to renegotiate the price, bring extra cash to close, or walk away if you have an appraisal contingency. Low appraisals are rare in stable markets but do happen.

Yes, lenders require proof of insurance before funding. Sonoma County's wildfire risk means rates run higher than coastal California, so shop around early.