Mortgage Guides

HELOCs have two phases: a draw period (typically 10 years) with interest-only minimums, then a repayment period (10-20 years) with full principal and interest payments. Learn how each phase works.

Condo mortgages require project approval — warrantable condos qualify for conventional loans while non-warrantable condos need non-QM or portfolio lenders. Wholesale brokers access condo-specialist programs.

Buying property in a revocable living trust requires a lender that allows trust vesting at closing. Most banks restrict trust purchases — wholesale brokers access 50+ Wholesale Lenders with trust-friendly programs.

DSCR interest-only loans reduce monthly payments by 20-30% compared to fully amortizing options, maximizing cash flow for rental property investors. IO periods range from 5-10 years.

DSCR loans finance California vacation rental properties using projected rental income. Top CA vacation markets include Big Bear, Palm Springs, Lake Tahoe, and coastal cities.

Complete breakdown of reverse mortgage closing costs: HECM origination fees (up to $6,000 cap), 2% initial MIP, 0.5% annual MIP, appraisal, title, and counseling costs. Most fees can be financed into the loan.

When and how reverse mortgages must be repaid. Covers maturity events, heir timelines (up to 12 months), non-recourse protection, FHA insurance fund, and repayment options for HECM borrowers.

Can you get a reverse mortgage on a manufactured home? FHA HECM eligibility requires post-1976 construction, permanent foundation, 400+ sq ft, and real property classification. Proprietary alternatives available.

How to get a HELOC on an investment property: 720+ credit, 70-75% max CLTV, 6+ months reserves. Most banks don't offer investment HELOCs — wholesale brokers access lenders that do.

Jumbo HELOC options in California from $500K to $5M. Most banks cap at $500K — wholesale brokers access portfolio lenders with higher limits for affluent homeowners in Orange County, Bay Area, and LA.

How to use home equity to fund a business: HELOC for flexible draws, cash-out refinance for lump sum, or home equity loan for fixed payments. Covers risks, tax implications, and SBA alternatives.

How wholesale mortgage rates compare to retail bank rates. Wholesale brokers access lender rate sheets without retail markup. Larger spreads on jumbo and non-QM loans make broker advantage more significant.