Question 1

What makes a portfolio ARM different from a regular ARM?

Accepted Answer

The lender keeps it on their own books instead of selling it. That means they set their own guidelines — more flexibility for borrowers who don't fit agency standards.

Question 2

Is a portfolio ARM risky in Fillmore's market?

Accepted Answer

Risk depends on your exit strategy. If you plan to sell or refi before the rate adjusts, the risk is low. Holding past the fixed period without a plan is where borrowers get caught.

Question 3

What credit score do I need for a portfolio ARM?

Accepted Answer

It varies by lender — that's the point of portfolio lending. Some go as low as 620, others want 680+. We shop your profile across lenders to find the best fit.

Question 4

Can I use a portfolio ARM to buy investment property in Fillmore?

Accepted Answer

Yes. Investors are a core use case. These loans pair well with rental properties where conventional financing falls short.

Question 5

How long is the initial fixed rate period?

Accepted Answer

Common terms are 5/1, 7/1, or 10/1 — fixed for that many years, then adjusting annually. The right term depends on how long you plan to hold the property.

Question 6

Do portfolio ARM rates change after the fixed period?

Accepted Answer

Yes. They adjust based on an index plus a margin. Your loan documents will spell out caps that limit how much the rate can move at each adjustment.

Portfolio ARMs in Fillmore, CA — Flexible Rates, Fewer Rules