Mortgage Guides

The questions people ask me every week, answered with the math and without the sales pitch.

Home equity guideADU financing in Orange County: how to pay for an ADURead it →Deposits, not returnsBank Statement HELOCRead it →Investor guideDSCR Loan Requirements in CaliforniaRead it →Agency rulesDebt-to-Income, and the Exclusions Nobody AppliesRead it →Agency rulesFannie Mae Self-Employed Income RulesRead it →Reverse mortgage guideHECM for Purchase: Buy Your Next Home Without a Monthly Mortgage PaymentRead it →An honest answerHELOC Without Income VerificationRead it →No returns requiredHELOC Without Tax ReturnsRead it →The full guideHELOC for Self-Employed BorrowersRead it →Home equity calculatorHELOC payment calculator: how much is the payment on a $100,000 HELOC?Read it →Home equity guideHELOC requirements in California: is it hard to get a HELOC right now?Read it →Home equity guideHELOC vs. cash-out refinance: which one keeps your low rate?Read it →The add-backs, line by lineHow Lenders Calculate Self-Employed IncomeRead it →Banker turned brokerIs a Mortgage Broker Worth It? A Banker Turned Broker ExplainsRead it →Agency rulesLender OverlaysRead it →What went wrongLetters of ExplanationRead it →What went wrongMortgage Denied After Pre-ApprovalRead it →Reverse mortgage guideReverse Mortgage Pros and Cons: What It Costs and What You Give UpRead it →Reverse mortgage guideReverse Mortgage Requirements: The California ChecklistRead it →The seven checksSelf-Employed HELOC RequirementsRead it →Home equity guideWhat happens when your HELOC draw period ends?Read it →When the line gets cutWhen a Lender Freezes or Cuts Your HELOCRead it →What went wrongWhen the Appraisal Comes In LowRead it →What went wrong and how to fix itWhy Self-Employed HELOC Applications Get DeniedRead it →

Every guide here started as a question someone asked me on the phone. I've been answering them since 2002, and the same dozen come up again and again. So I wrote the answers down. Each one gets to the point in the first two sentences, then shows the math.

None of these guides quote rates. Rates change daily and depend on your file. When you want real numbers, book 15 minutes and you'll get them with an APR attached.

Home equity and HELOCs

HELOC vs. cash-out refinance: how to keep your low first mortgage and still get cash, and when the cash-out wins anyway.
HELOC requirements in California: equity, credit, income and the insurance question that trips up hillside homes.
What happens when your HELOC draw period ends: the payment jump, and what to do a year before it hits.
HELOC payment calculator: enter your own rate and see interest-only and full payments.
ADU financing in Orange County: paying for a backyard unit with a HELOC, a cash-out or a renovation loan.

Reverse mortgages (62+)

Reverse mortgage pros and cons: what it costs and what it costs your heirs.
Reverse mortgage requirements: the three big ones, plus counseling and California's rules.
HECM for Purchase: buying a single-story home at 62+ with no monthly mortgage payment.

Investors

Real estate investor loans: every route, from a first rental to a portfolio.
DSCR loans: qualify a rental on its rent, not your tax returns.
DSCR requirements: the ratio, the down payment, and why you can't live in it.
Bridge loans: short-term money when the timing doesn't line up.
Fix and flip loans: purchase plus rehab, and the profit test lenders run.
Blanket and portfolio loans: 2 to 25 rentals in one loan, and the release price that decides your exit.
Multifamily loans, 5 to 9 units: where the building's income takes over from yours.
Commercial real estate loans: buy the building your business rents.
Unsecured business funding: capital with no lien on any property.

Choosing who to work with

Is a mortgage broker worth it?: bank vs. broker, how brokers get paid, and what I learned in seventeen years at Chase.

Ready for your own numbers?

The guides give you the questions. The answers depend on your house, your balance and your credit. Call or text (714) 713-3133 and we'll look at them together.

Let’s look at your numbers

Fifteen minutes. Your real numbers. No pressure.

Call or text my cell, or book a time. You’ll get a written comparison with real terms and an APR on every option, and if your current deal already wins, I’ll tell you.

Call or text (714) 713-3133 Book 15 minutes Send my numbers Start an application