Question 1

What does 'portfolio' mean in a portfolio ARM?

Accepted Answer

The lender keeps your loan instead of selling it. That lets them set their own terms and approve borrowers who don't fit standard guidelines.

Question 2

How long does the fixed rate period last?

Accepted Answer

Common terms are 5, 7, or 10 years fixed before the rate adjusts. After that, the rate ties to an index and adjusts periodically.

Question 3

Can I use bank statements to qualify?

Accepted Answer

Many portfolio lenders accept 12-24 months of bank statements instead of tax returns. This is a key reason self-employed borrowers in Camarillo use these loans.

Question 4

Are portfolio ARMs available for investment properties?

Accepted Answer

Yes. Many investors pair portfolio ARMs with rental properties in Ventura County. Underwriting varies by lender and property type.

Question 5

What happens when the fixed period ends?

Accepted Answer

The rate adjusts based on an index plus a margin. Most loans have annual and lifetime caps that limit how high the rate can go.

Question 6

Is a portfolio ARM right for me if I plan to refinance?

Accepted Answer

Possibly. If you plan to refinance before the fixed period ends, you may never see an adjustment. Discuss your timeline with a broker before committing.

Portfolio ARMs in Camarillo: Flexible Rates, Local Fit