Learning center
Answers first. Then the mechanics.
Guides for people who want to know how a program reads their file, and what it costs them, before they talk to anyone. No rates, and no guidelines dressed up as facts.
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The guides most borrowers need first.
Self-employed financing
Bank Statement vs Conventional for the Self-Employed: Run Both First
Before choosing a bank statement loan, have a broker recompute your Schedule C the way an agency underwriter would: add back depreciation, home office and one-time costs.
DSCR & real estate investing
How DSCR Is Calculated, Including the Appraisal Rent Schedule
DSCR is the property's gross monthly rent divided by its full monthly payment (principal, interest, taxes, insurance and association dues).
Home equity
HELOC Draw Period vs Repayment Period: Why the Payment Jumps
During the draw period most HELOCs require interest only on the drawn balance.
Decision guides
The long reads, when the choice itself is the question.
Self-Employed Mortgage Options: Conventional First, Then Alternatives
A decision guide for business owners, freelancers and contractors: how conventional lenders read tax returns, which add-backs help, when a…
Investment Property Loans: DSCR, Conventional, HELOC and Cash-Out Compared
An investor’s decision guide: what conventional agency financing requires and where it stops, how DSCR loans differ, when a HELOC on your…
All guides
Every guide, by topic.
Self-employed financing
When the tax returns understate the business.
Bank statement, 1099 and P&L qualification for owners whose tax returns understate what the business earns.
Self-Employed Less Than Two Years: Your Mortgage Options
With under two years of self-employment there are three realistic paths: a conventional loan under the same-field exception, a 12-month…
Which Deposits Count on a Bank Statement Loan (and Which Get Thrown Out)
Deposits that represent revenue from your business count; transfers between your own accounts, loan proceeds, refunds, gifts and large one-offs you cannot document are removed.
Bank Statement Loan Expense Factor, Explained
The expense factor is the share of business-account deposits a lender assumes went to running the business; what remains is qualifying income.
DSCR & real estate investing
Financing a rental on its own rent.
Qualifying a rental on its own rent: the ratio, the appraisal rent schedule, LLC vesting, prepayment penalties and cash-out.
Your First Rental With a DSCR Loan
Many DSCR programs accept first-time investors, sometimes on different terms than an experienced landlord.
DSCR vs Conventional Investment Property Loans
Conventional investment-property loans are usually cheaper for an investor who can qualify on personal income and holds few financed properties.
DSCR Cash-Out Refinance and Seasoning for BRRRR
A DSCR cash-out refinance turns a stabilized rental's equity into cash for the next deal.
Home equity
Using equity without touching the first mortgage.
Lines and second liens that leave a first mortgage alone, including the repayment-period payment jump.
Is HELOC Interest Deductible When Used for a Rental?
Under the IRS interest-tracing rules, interest follows the use of the money, not the property that secures it.
HELOC vs Cash-Out Refinance vs DSCR Cash-Out for Investors
Start with the rate on the first mortgage you already have.
HELOC on an Investment Property: Who Offers It and What It Takes
Some lenders offer a HELOC secured by a rental property, but the pool is small and the terms are tighter than on a primary residence.
Alternative documentation
What replaced stated income.
What replaced stated income under the Ability-to-Repay rule, and what each path documents.
What Is a Non-QM Loan (and Why It Is Not Subprime)
A non-QM loan is a mortgage that falls outside Regulation Z's qualified-mortgage definition, usually because of how income is documented or how the loan is structured.
Do Stated Income Loans Still Exist? What the Ability-to-Repay Rule Actually Requires
Not for a home you will live in. Regulation Z requires lenders to verify ability to repay a consumer mortgage from third-party records…
Alternative Income Documentation Compared: 1099, P&L, Bank Statement, Asset Depletion
Four methods replace tax returns in non-QM lending: bank statement deposits, 1099 forms, a CPA-prepared profit-and-loss, and asset depletion.
Quick answers
The short version, when that is all you need.
Mortgage FAQs
Forty-plus questions borrowers ask before they apply, grouped by program, with the trade-offs included.
Browse the FAQsMortgage glossary
Plain-English definitions of the terms that come up in non-traditional lending: ATR, non-QM, DSCR, PITIA, expense factor, CLTV, seasoning.
Open the glossaryFind out which program fits your situation.
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