No-Appraisal Mortgages (AVM-Based Closing) in California

A growing set of mortgage programs accept an AVM (Automated Valuation Model) report in place of a traditional human-appraiser report, on qualifying loans. AVM uses software-generated comparable sales data and confidence scoring. When the AVM confidence is high enough, the lender skips the 2-3 week appraisal scheduling window and the $500-$800 cost - saving both time and money.

California at a glance

Major metro
Los Angeles
2026 conforming loan limit (1-unit)
$832,750 to $1,249,125
High-cost counties
Yes
Active matching programs
14

Who it's for

Buyers and refinancers in active markets where AVM models have strong comparable data, smaller loan amounts where appraisal cost cuts into deal economics, and time-sensitive scenarios (competing offers, expiring rate locks).

Programs available in California

Non-QM Mortgage Program

confirmed 5/10/2026

Closed-end second mortgage program for primary, secondary, and investment homes, offering fixed terms and cash-out options without refinancing the first lien.

FICO 660+LTV up to 90%full-doc, 12mo-bank-stmt

Specialized Mortgage Program

confirmed 5/21/2026

Fixed-rate second lien mortgage options designed for debt consolidation, home improvements, or other financing needs without refinancing the existing first mortgage.

full-doc, 12mo-bank-stmt

FHA Mortgage Program

confirmed 5/20/2026

A simplified refinance process for existing FHA loans that requires no income verification or appraisal to help borrowers secure a lower interest rate.

no-income

Specialized Mortgage Program

confirmed 5/15/2026

A closed-end second lien mortgage program allowing borrowers to access home equity without refinancing their existing first mortgage, available for primary, secondary, and investment properties.

FICO 660+LTV up to 85%full-doc

Specialized Mortgage Program

confirmed 5/20/2026

A standalone digital home equity line of credit designed for streamlined processing and quick access to home equity.

Bank Statement Loan for Self-Employed

confirmed 5/13/2026

A fixed-rate second lien program for primary residences using 12 or 24 months of bank statements for income qualification, with credit scores from 680.

FICO 680+LTV up to 80%12mo-bank-stmt, 24mo-bank-stmt

Specialized Mortgage Program

confirmed 5/13/2026

A fixed-rate second lien program for primary, secondary, and investment properties with full documentation, credit scores from 660, and loan amounts up to $500,000.

FICO 660+LTV up to 85%full-doc

Specialized Mortgage Program

confirmed 5/29/2026

Hard money financing solutions for real estate investors and buyers, including options for mobile homes, rural homes, and land.

Specialized Mortgage Program

confirmed 5/9/2026

Fixed-rate second lien mortgage options for primary, second, and investment properties, allowing borrowers to access equity without refinancing their existing first mortgage.

FICO 660+LTV up to 85%full-doc

Specialized Mortgage Program

confirmed 5/9/2026

A flexible HELOC program for primary, second homes, and investment properties with up to 95% CLTV and no initial draw requirement.

FICO 640+LTV up to 95%alt-doc

Bank Statement Loan for Self-Employed

confirmed 5/9/2026

A fixed-rate second lien program for primary residences using 12 or 24-month bank statements for income qualification, with credit scores starting at 680.

FICO 680+LTV up to 80%12mo-bank-stmt, 24mo-bank-stmt

Specialized Mortgage Program

confirmed 5/9/2026

A fixed-rate second lien program offering up to 85% CLTV for primary and secondary homes, and 75% CLTV for investment properties, with credit scores starting at 660.

FICO 660+LTV up to 85%full-doc

Non-QM Mortgage Program

confirmed 5/15/2026

A closed-end second lien loan option that supports various income documentation types or DSCR qualification for cash-out needs.

LTV up to 85%12mo-bank-stmt, 24mo-bank-stmt

Non-QM Mortgage Program

confirmed 5/19/2026

A closed-end second lien mortgage program available for owner-occupied, second home, and investment properties with fixed-rate terms of 10, 20, and 30 years.

FICO 660+LTV up to 90%full-doc, 12mo-bank-stmt

Frequently asked questions

What is an AVM in mortgage lending?

AVM (Automated Valuation Model) is a software-generated property valuation using comparable sales data, MLS records, and tax data. Lenders accept AVM when the confidence score exceeds a threshold (typically 80%+) on qualifying loan profiles.

What LTV qualifies for AVM-only?

Typically 80% LTV or below, on loan amounts under $250-$400K. Higher LTV or larger loan amounts still require a full appraisal.

Can I refinance without an appraisal?

Yes, on select rate-and-term refinances where the AVM confidence is high and LTV is reasonable. Cash-out refis typically still require a full appraisal.

Does the AVM cost anything?

A small AVM fee ($25-$100) replaces the appraisal fee ($500-$800). Net savings ~$400-$700 plus the time saved.

Get a rate for California

Pricing for Los Angeles and the rest of California. No personal information required.

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Today's mortgage rates

Conventional

5.875%

5.906% APR

FHA

5.375%

5.405% APR

VA

5.375%

5.402% APR

Conv: 80% LTV, 780 FICO. FHA: 96.5% LTV, 680 FICO. VA: 100% LTV, 680 FICO. 30-yr fixed. Your rate may vary.