Frequently Asked Questions

At LBC Mortgage, we focus on personal service and finding the right solutions for you. We know the local market well and offer a variety of mortgage products, including options for self-employed individuals and newcomers. We’re here to guide you through the entire home-buying process.

Don’t worry! Many of our clients have credit scores that need improvement. We can give you tips on how to boost your credit and connect you with helpful resources. Our goal is to find the right loan for you, even if your credit needs work. Interested in finding out more? Get in touch!

Any type of visa that allows you to stay in the US for at least 3 years should suffice. This includes student visas, work visas, and even some tourist visas.

LTV, or loan-to-value ratio, is another financial ratio that lenders use to assess a borrower’s risk. The higher the LTV, the riskier the loan. A loan with an LTV of 80% is considered high risk because it means that the borrower has put up little equity in the property. A loan with a lower LTV is considered less risky because it means that the borrower has more equity in the property.

If you’re considering a DSCR loan for your next real estate investment, contact LBC Mortgage today. We can help you find the right loan for your needs and answer any questions.

Generally speaking, a good time to refinance would be when the mortgage interest rates are falling or once value of your home went up. Also, if you see that you can afford to pay off your mortgage in a shorter term.
Non-US resident mortgages are offered by many different lenders. However, rates and terms can vary significantly, so it’s important to compare options carefully before choosing a lender.
Both first-time homebuyers and existing homeowners can apply for an FHA loan. There are no income limits, but you must have a good credit score and demonstrate financial stability.
To be eligible for an ITIN loan, you must have an ITIN number and meet the other eligibility requirements for this unique loan program. Check with the lender to see what those requirements are.
DSCR loans are important because they can help to ensure that a property generates enough income to cover the costs of the loan. This type of loan can also help to protect lenders from loss in the event that a borrower defaults on the loan.

There are a few reasons to consider refinancing:

  1. Lower your monthly payment
  2. Switch from adjustable to fixed rate
  3. Lower your interest rate
  4. Cash out to pay off other debt
  5. Change term of your loan.
Jumbo loans allow borrowers to finance the purchase of high-value properties and are an attractive option for anyone looking to buy luxury homes, vacation homes, or investment properties. Besides, borrowers can choose from a range of loan terms, including fixed or adjustable rates, and may negotiate more favorable loan terms based on their financial situation. A jumbo loan may be a good option, however, it is crucial to consult with a professional mortgage broker and consider the costs and benefits before making a decision.
A jumbo loan is called so because it refers to a mortgage loan that exceeds the conforming loan limits set by the Federal Housing Finance Agency. The conforming loan limits are the maximum loan amount that Fannie Mae and Freddie Mac, the government-sponsored enterprises that purchase mortgages from lenders, can guarantee.