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Exeter is a small Central Valley city in Tulare County. Citrus farming, tight inventory, and a mix of owner-occupied and investment properties define this market.
HousingWire flagged a 10.4% drop in mortgage applications as the 30-year fixed hit 6.57%. That shift in ARM demand matters for Exeter buyers watching their monthly payment closely.
620–660 typical
Min Credit Score
3, 5, 7, or 10 yrs
Initial Fixed Period
Bank stmts, rental
Income Doc Options
Non-QM
Loan Type
2/1/5 common
Rate Cap Structure
Portfolio ARMs in Exeter
Portfolio ARMs are non-QM loans. Lenders write their own rules — no Fannie Mae or Freddie Mac guidelines to follow.
Expect credit score minimums around 620-660, depending on the lender. Income can often be documented with bank statements, asset depletion, or rental income.
Local decision guide
Use this guide to connect portfolio arms eligibility, lender expectations, and local market factors before comparing payment options in Exeter.
Exeter is a small Central Valley city in Tulare County. Citrus farming, tight inventory, and a mix of owner-occupied and investment properties define this market.
HousingWire flagged a 10.4% drop in mortgage applications as the 30-year fixed hit 6.57%. That shift in ARM demand matters for Exeter buyers watching their monthly payment closely.
Portfolio ARMs are non-QM loans. Lenders write their own rules — no Fannie Mae or Freddie Mac guidelines to follow.
Most retail banks don't offer portfolio ARMs. You won't find them advertised on Zillow or rate comparison sites.
We work with 200+ wholesale lenders. That means we actually shop portfolio ARM programs — rate, margin, caps, and terms — across real options.
The initial rate on a portfolio ARM can run meaningfully below a 30-year fixed. For a short hold, that spread saves real money.
Pay attention to rate caps. A 2/1/5 cap structure means 2% max first adjustment, 1% per year after, 5% lifetime. Know what you're signing.
A 30-year fixed gives you payment certainty. A portfolio ARM gives you a lower starting rate with future adjustment risk.
DSCR loans qualify on rental income alone. Portfolio ARMs can work for owner-occupied or investment — but require more borrower documentation.
Exeter properties often come in under jumbo thresholds. That keeps portfolio ARMs practical for this price range.
Tulare County has agricultural ties and seasonal income patterns. Portfolio lenders can work with non-traditional income — a real advantage here.
The lender keeps the loan instead of selling it. That means more flexible underwriting and terms not tied to agency guidelines.
Yes, many portfolio lenders accept rental income documentation. Some will also consider bank statements or asset depletion.
Common options are 3, 5, 7, or 10 years fixed before the rate adjusts. The right choice depends on your hold strategy.
Yes. Portfolio ARMs work for both owner-occupied and investment properties. Lender terms and rates will differ between the two.
Most portfolio lenders want at least 620-660. Stronger credit gets better margins and rate caps.