Frequently Asked Questions

The timeline can vary, but once your application is complete and we have all the documents, we aim to close within 30 days. Our efficient process and dedicated team help keep things moving quickly. Want to know more about the steps? Contact us!

The length of the refinancing process depends on several variables, but most refinance transactions are completed within approximately 30 to 45 days. When refinancing through LBC Mortgage, timelines are driven by the specific loan program, the borrower’s documentation profile, and how quickly third-party items such as appraisals and title work are completed. The process begins with an initial review of the existing loan, refinancing goals, and eligibility for available programs.

Documentation plays a major role in timing. Borrowers with straightforward W-2 income and strong credit profiles often move through underwriting more quickly, while self-employed borrowers or investors using alternative documentation may require additional review steps. However, certain refinance options—such as FHA Streamline or VA Interest Rate Reduction programs—can close more quickly because they may not require a new appraisal or extensive income verification. For rental property refinances using DSCR guidelines, qualification based on property cash flow rather than personal income can also reduce processing time.

External factors also affect the timeline. Appraisal scheduling, title report turnaround, and responsiveness to document requests can either shorten or extend the process. Market conditions and lender volume may influence underwriting speed as well. Throughout the refinance, setting clear expectations and responding promptly to documentation requests helps keep the transaction on track. While exact timelines vary, most refinances follow a predictable sequence, allowing borrowers to plan with reasonable confidence from application to closing.

It all depends on your unique situation and credit history. However, the process is typically much faster than traditional mortgages, so you can expect to get a decision from your lender within a few weeks.
It all depends. Here at LBC Mortgage, we require the previous 12 months of bank statements for our bank statement loans.
The 2022 Conforming loan limit in California is now $647,200 for most counties, and in some high-cost counties, it’s as high as $970,800. Scroll down for your specific county limit.
The FHA loan limit “floor” is 65% of the conforming loan limit — or $420,680 — for most counties across the country. The FHA loan max, or “ceiling,” in high-cost areas is $970,800 — this is 150% of the conforming loan limit.
The amount you can borrow will depend on your income, employment history, and credit score. However, most Non-US Resident Mortgages range from $50,000 to $5 million.
The amount you can borrow will depend on your business’s financials, including your annual revenue and your ability to repay the loan.
The amount you can borrow with a first-time homebuyer loan will vary depending on the type of loan you choose. FHA loans, for example, typically have lower loan limits than other types of loans. However, you may be able to borrow more if you make a larger down payment or meet certain income requirements.
The good news is that there’s no set answer to this question either – each lender has its own requirements. However, most lenders will want to see that you have enough income to cover your current debts, as well as the payments on your DSCR loan.
This depends on the lender, but typically you’ll need to put down at least 30% of the purchase price. You may also be required to get private mortgage insurance (PMI) if you put down less than 30%.
DSCR = Operating Income / Total Interest Payments To calculate the DSCR ratio, divide Operating Income by Interest Payments. The result should be greater than 1.0 for a company to be considered healthy. A high DSCR ratio means that the company is generating more Operating Income than it needs to pay its interest payments. This gives the company room to grow and expand operations. A low DSCR ratio means that the company is not generating enough Operating Income to cover its interest payments. This could lead to financial troubles down the road. It is important to monitor the DSCR ratio over time and compare it to other ratios, such as the Debt-to-Asset Ratio and the Interest Coverage Ratio.