Answer a few questions and explore potential mortgage pathways based on your California homeownership or financing goals.
Select the option that best describes your mortgage goal. This determines which pathways the advisor will explore for your situation.
Buying a primary residence, second home, or investment property in California.
Lower your rate, reduce your term, or change your loan program on an existing mortgage.
Access equity from your home for debt consolidation, home improvement, or investment capital.
Financing a rental, multi-family, or non-owner occupied investment property in California.
Qualify on rental income rather than personal income. Designed for investors scaling a portfolio.
Financing above conforming loan limits for high-value California properties.
Buying your first home in California with questions about programs, down payment, and qualification.
You own a business or are self-employed and have questions about income documentation and qualification.
A situation that does not fit the categories above. Describe it in the following steps.
Property details help identify which loan programs and conforming limits may apply to your scenario.
Your credit range, employment type, income, and down payment help identify which programs are worth exploring. No information is shared without your permission.
Review what you have shared. This summary will be used to identify potential mortgage pathways and inform a direct conversation with Troy Mire when appropriate.
Based on what you shared, the following loan categories are worth exploring. This is educational information only. No rates, no approvals, and no commitments.
Insured by the Federal Housing Administration. Lower down payment and more flexible credit requirements than conventional loans. Commonly used by first-time buyers and those rebuilding credit.
Guaranteed by the Department of Veterans Affairs. Zero down payment for eligible veterans, active military, and surviving spouses. No private mortgage insurance required.
Fannie Mae or Freddie Mac backed loans for qualified borrowers. Best pricing for strong credit profiles. Can be used for primary residence, second homes, and investment properties.
For loan amounts above conforming limits. Portfolio product requiring strong reserves, income documentation, and credit history. Common in higher-priced Southern California markets.
Qualifies on the rental income of the property rather than personal income or tax returns. Designed for real estate investors who want to separate personal income documentation from the qualification process.
Alternative income documentation programs for self-employed borrowers and business owners who cannot qualify using standard tax return income. Income is established through bank deposits or a CPA-prepared profit and loss statement.
Replaces an existing mortgage with a new, larger loan and distributes the difference as cash. Used for debt consolidation, home improvements, education, or investment capital.
Uses verified liquid assets — savings, investment accounts, retirement funds — as the income basis for qualification. Designed for borrowers with significant assets but limited or irregular earned income.
Every inquiry is reviewed personally. Troy Mire works directly with every borrower — no junior processors, no automated pre-approvals. A direct conversation is how the right program gets identified.
Direct answers to the questions California borrowers ask most often. Organized by topic for easier navigation.
It depends on the program. FHA requires a minimum 580 with 3.5% down, or 500 with 10% down. Conventional loans require at least 620, with best pricing at 740 and above. VA loans have no official minimum but most lenders require 580 to 620. Jumbo and non-QM programs vary, with most requiring 680 or higher. A higher score consistently produces better rates and terms across every program.
Yes, but waiting periods apply. FHA requires 3 years after a foreclosure and 2 years after a Chapter 7 bankruptcy discharge. Conventional requires 7 years after foreclosure and 4 years after Chapter 7. VA requires 2 years after both. Non-QM programs may allow financing 1 day out of bankruptcy or foreclosure depending on equity and documentation. Exact timelines depend on the specific event, program, and lender.
VA loans offer zero down for eligible veterans and active military. FHA requires a minimum 3.5% with a 580 credit score. Conventional can go as low as 3% for first-time buyers and 5% for repeat buyers, though 20% avoids PMI. DSCR and investor loans typically require 20 to 25%. Jumbo loans generally require 10 to 20% depending on loan size and lender requirements.
Yes, on most programs. FHA allows 100% of the down payment to be gifted from an acceptable donor with proper documentation. Conventional allows gift funds on primary residence purchases but typically requires the borrower's own funds for investment properties. VA allows gift funds. A gift letter and documentation of the transfer are required in all cases. The source of funds must be verified and seasoned according to program guidelines.
For 2025, FHA single-family limits in Southern California are: Los Angeles and Orange Counties at $1,209,750; San Diego County at $1,006,250; Ventura County at $954,500; Riverside and San Bernardino Counties at $644,000. Limits increase for 2-4 unit properties. These figures are set annually by HUD and are subject to change. Always verify current limits before proceeding.
Yes. FHA loans require both an upfront mortgage insurance premium (UFMIP) of 1.75% of the loan amount, typically rolled into the loan, and an annual MIP paid monthly. For most FHA loans originated with less than 10% down, MIP remains for the life of the loan. With 10% or more down, MIP can be removed after 11 years. This is a meaningful cost difference compared to conventional PMI, which can be cancelled once equity reaches 20%.
VA loans are available to eligible veterans, active duty military service members, National Guard and Reserve members who meet service requirements, and surviving spouses of service members who died in service or from a service-connected disability. Eligibility is established through a Certificate of Eligibility (COE) issued by the VA. Length and type of service determine eligibility in most cases.
Since 2020, there is no VA loan limit for eligible borrowers with full entitlement. This means a qualified veteran can purchase a home above the conforming limit with zero down payment, subject to lender approval and credit qualification. Borrowers with partial entitlement due to an existing VA loan may have limits that apply. A VA lender can determine your specific entitlement situation.
The baseline conforming loan limit for 2025 is $806,500 for a single-family property in most Southern California counties. High-balance conforming limits apply in designated high-cost areas. Loan amounts above conforming limits require a jumbo loan, which has different qualification standards and is not government backed. Limits are set annually by the FHFA and are subject to change.
PMI on a conventional loan can be requested for removal once the loan balance reaches 80% of the original purchase price based on scheduled payments. By law, lenders must automatically cancel PMI when the balance reaches 78% based on the original amortization schedule. Significant appreciation can also support early removal through a new appraisal, depending on the lender's guidelines and seasoning requirements.
DSCR stands for Debt Service Coverage Ratio. The loan qualifies on the rental income of the property rather than the borrower's personal income or tax returns. It is designed for real estate investors who want to keep personal income documentation out of the qualification process, or those whose tax return income is reduced by deductions. Most programs require a DSCR of 1.0 to 1.25. 30-year fixed options are available on investment properties only.
Yes. Self-employed borrowers have several options depending on their documentation and income profile. Conventional and FHA programs use two years of tax returns, which often shows lower qualifying income after business deductions. Bank statement programs use 12 to 24 months of deposits instead of tax returns. P&L programs use a CPA-prepared profit and loss statement. Asset depletion programs use liquid assets as the income basis. The right path depends on how income is earned and documented.
Bank statement programs use 12 or 24 months of personal or business bank statements to calculate qualifying income instead of tax returns. Deposits are analyzed, and a percentage of gross deposits is used as income — typically 50% for business accounts and 100% for personal accounts, though this varies by lender. These programs typically require higher credit scores and down payments than conventional loans and carry higher rates, but they allow self-employed borrowers to qualify on actual cash flow rather than taxable income.
Refinancing generally makes sense when the new rate produces monthly savings that recover the closing costs within a timeframe you plan to remain in the home, when you need to access equity, when you want to change from an adjustable rate to a fixed rate, or when you want to shorten the loan term. The break-even calculation — dividing total closing costs by monthly savings — tells you how many months before refinancing pays off. Your plans for the property should drive the decision, not the rate alone.
A streamline refinance is a simplified refinance program available to borrowers who already have an FHA or VA loan. It reduces documentation requirements — often no appraisal and limited income verification — and is designed to lower the interest rate or monthly payment quickly. FHA Streamline requires a net tangible benefit to the borrower. VA IRRRL (Interest Rate Reduction Refinance Loan) follows similar guidelines. Both require that the existing loan being refinanced is current with a satisfactory payment history.