Mortgage questions, answered plainly.

As little as 3% for a first-time buyer on a primary residence, 5% otherwise. Anything under 20% requires PMI, which we model as part of the total monthly cost.

$806,500 baseline, up to $1,209,750 in high-cost counties like San Francisco, Marin, Alameda, and Contra Costa.

Yes. Once you reach 80% loan-to-value based on current value, you can request removal, often supported by an appraisal. It also cancels automatically at 78% of the original value.

Depends on your credit and down payment. Below 680 credit or under 5% down, FHA usually wins on monthly payment. Above 700 credit with 5%+ down, conventional typically wins on total cost.

Yes. Once you have 20% equity and improved credit, refinancing to conventional drops the mortgage insurance permanently.

Yes, as long as you occupy one of the units. Rental income from the other units can often be used to help you qualify.

There is no hard limit. You can restore entitlement by paying off or selling the property, or use remaining entitlement for a second VA loan simultaneously.

No, VA requires owner-occupancy. But 2-4 unit properties are eligible if you occupy one unit.

Not with full entitlement. You can exceed conforming limits with zero down. Partial entitlement is where county limits come back into the math.

Eligibility is set by census area, not by how rural the town feels. Send me the address and I will confirm eligibility the same day.

Yes. USDA tests total household income including adult occupants who are not on the loan, which surprises many applicants.

Most lenders want 700+, with the best pricing at 740+. We have programs that go to 680 with compensating factors.

Yes, up to certain loan sizes. Above roughly $2M most lenders want 20%+ down, though a handful still allow 10% with strong reserves.

With most jumbo lenders, yes, given a two-year history and evidence of continuance. Lender selection matters enormously here.

1.00 is break-even; most lenders want 1.10-1.25 for best pricing. Below 1.00 there are lenders that will still lend at a rate premium.

Yes with certain lenders, typically using an AirDNA or third-party rental analysis.

Usually yes, most commonly a 3-year step-down. Buying out the penalty is possible but raises the rate.

For business accounts, we add total qualifying deposits and multiply by an expense factor (usually 50%, sometimes 25-75% based on CPA letter). Divide by 12 or 24 for monthly qualifying income.

No. Underwriters strip internal transfers, loan proceeds, and other non-business deposits before calculating income.

No. The program only calculates what your assets could theoretically provide. Nothing is required to be sold or pledged.

Often yes, typically at a discount and sometimes only if you are old enough to draw penalty-free. It varies by lender.

No. With an ITIN, tax filings, and a down payment, several portfolio lenders will finance a primary residence.

Alternative credit works. Twelve months of rent, utility, insurance, or cell phone payment history can build a usable credit profile.

Generally no. These programs require a licensed, insured contractor with a documented bid and draw schedule.

Plan on 40-50 days rather than 30, because the contractor bid and specialty appraisal add time up front.

Yes, though expect a lower loan-to-cost and a higher rate than an investor with several completed projects.

Most lenders offer extensions for a fee. We build the exit and a contingency plan into the structure before you close.

If your current first is below 5%, almost always HELOC or fixed second. Above 6.5%, a cash-out refi may make sense. We model both against your actual timeline before recommending.

Many lines close in two to three weeks because they use an automated valuation rather than a full appraisal.

No. You keep title. The loan becomes due when the last borrower permanently moves out, sells, or passes away, and you must stay current on taxes, insurance, and maintenance.

HECM loans are non-recourse. Heirs can repay the balance to keep the home or sell it, and they are never liable beyond the home's value.