Loans designed around people, not paperwork.

Instead of tax returns, the lender reviews 12 to 24 months of personal or business bank statements and uses your deposits to calculate qualifying income, usually after applying an expense factor to business accounts. It is built for owners whose write-offs make their taxable income look smaller than what the business actually earns.

Conventional loans generally look for two years of self-employment history. Fannie Mae allows as little as 12 months on your most recent tax returns if you previously earned similar income in the same line of work. Bank statement programs set their own rules, so it varies by lender.

Not because you are self-employed. If your tax returns qualify you for a conventional loan, you get conventional pricing. Non-QM programs like bank statement and P&L loans typically price higher, which is why we check whether your returns work first.

A Non-QM (non-qualified mortgage) falls outside the standard Qualified Mortgage rules, usually because income is documented with bank statements, a P&L, assets or rental income instead of tax returns. Lenders are still required to verify that you can repay. It is a documentation difference, not a subprime product.

It depends on the program. Conventional loans typically use two years of personal and business tax returns. Bank statement loans use 12 to 24 months of statements, P&L loans use a CPA-prepared profit and loss statement, and 1099 loans use your 1099s. Most programs also ask for proof of assets and evidence the business is active.

No personal income documentation is required, so no tax returns, W-2s or pay stubs. Lenders still pull credit, order an appraisal with a market rent estimate and verify your down payment and reserves.

Conventional loans allow as little as 15% down on a single-unit investment property. DSCR loans commonly require 20% or more down, depending on your credit score, the property's DSCR and the loan amount.

Yes. Most DSCR lenders will close in an LLC, which conventional loans do not allow. You will usually sign a personal guarantee and provide the LLC's formation documents.

On a conventional cash-out refinance, Fannie Mae caps a single-unit investment property at 75% of its value. DSCR cash-out limits are often in a similar range and vary by lender, credit score and DSCR.

Conventional financing generally caps you at 10 financed properties. DSCR and other investor programs work outside that limit, with each lender setting its own exposure rules, which is how investors keep growing a portfolio.

Often, yes. Many DSCR loans charge a penalty for paying off within the first one to five years, usually stepping down each year. The penalty can typically be shortened or removed in exchange for a higher rate, so it should match how long you plan to hold.

Many jumbo programs start at 10% to 20% down, depending on the loan amount, your credit and your reserves. Larger loan amounts usually require more down.

Not always. Jumbo pricing moves on its own and can land above or below conforming rates depending on the market and the lender. Shopping several jumbo lenders matters more here than almost anywhere else.

Usually not. Most jumbo lenders skip mortgage insurance and ask for a larger down payment instead.

Lenders commonly want 6 to 12 months of mortgage payments left in savings or investment accounts after closing, and more for larger loans or multiple properties. Retirement and brokerage accounts can often count.

Yes. Foreign national programs finance second homes and investment properties without U.S. credit or U.S. tax returns. Expect a larger down payment than a domestic loan and documentation of income and assets from the country where you live.

For a primary residence, a conventional cash-out refinance generally allows up to 80% of the home's value, minus what you owe. Many HELOCs use a similar combined limit, and some go higher. Example: a $700,000 home with $300,000 owed leaves up to $260,000 at 80%.

When the savings beat the cost. Divide your closing costs by your monthly savings to find your break-even month. If you plan to keep the loan well past that point, it is worth a look. Refinancing can also remove mortgage insurance, replace an adjustable rate or consolidate debt.

Closing costs commonly run a few percent of the loan amount and cover lender fees, the appraisal, title and recording. You can often roll them into the loan or take a slightly higher rate in exchange for lender credits. Your Loan Estimate lists every fee before you commit.

Yes. A cash-out refinance on a free-and-clear home works the same way, up to the program's limit on the home's value. A HELOC is another option if you would rather draw funds only as you need them.

Yes. The FHA Streamline and VA IRRRL are built to lower the rate on an existing FHA or VA loan with less paperwork and often no new appraisal. The main requirement is that the new loan clearly benefits you, usually through a lower rate or payment.

FHA allows scores as low as 580 with 3.5% down, or 500 to 579 with 10% down, though many lenders set higher minimums. For conventional loans, many lenders still look for 620 or higher. Higher scores usually earn better pricing.

FHA is more forgiving on credit, but under current FHA rules, with less than 10% down its mortgage insurance lasts for the life of the loan. Conventional mortgage insurance can be removed at 20% equity and ends automatically at 22%. With stronger credit, conventional often costs less over time. With lower scores, FHA often wins. We price both.

Yes. Florida Housing and Palm Beach County both run down payment and closing cost assistance for qualifying buyers, usually with income and purchase price limits. Funding opens in rounds and can run out, so we check what is available when you apply.

A pre-approval uses a hard credit check, which can lower your score slightly. Shopping around is protected: multiple mortgage credit checks within a short window, typically 14 to 45 days depending on the scoring model, count as a single inquiry.

Lenders compare your total monthly debts, including the new house payment, to your gross monthly income. Property taxes and insurance count toward that payment, and in Florida insurance can move the number a lot. A pre-approval gives you the real figure.