Loan Programs
Full-Document Conventional Mortgage
A full-document conventional mortgage, often called a “full doc” loan, is a traditional home loan that requires extensive documentation to verify your income, assets, and employment. This includes providing documents like pay stubs, W-2s, two years of tax returns, and bank statements to prove financial stability. Lenders use this comprehensive information to assess your creditworthiness and ability to repay the loan.
- A conforming loan is a type of conventional mortgage that meets specific guidelines set by the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. These guidelines make the loans eligible for purchase by the GSEs, which provides liquidity to lenders and helps keep mortgage rates affordable for homebuyers. For most of the U.S. in 2025, the baseline limit for a single-family home is $806,500.
- A jumbo loan is a type of mortgage used to finance a property whose loan amount exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). These limits are the maximum amounts that Fannie Mae and Freddie Mac are legally allowed to purchase or guarantee.
Government Backed Loans
Government-backed mortgages are loans insured or guaranteed by the federal government, making them less risky for lenders and often more accessible for borrowers. These programs can help reduce down payments, offer lower interest rates, and provide more flexible qualification criteria compared to conventional loans. Common Government backed loans are:
FHA Loans Insured by the Federal Housing Administration
VA Loans Guaranteed by the Department of Veterans Affairs
USDA Loans Guaranteed or issued directly by the U.S. Department of Agriculture
Full Documents Non-QM loan
A Full Documentation Non-QM (non-qualified mortgage) loan is a mortgage product for borrowers who have a complete financial history but whose profile does not fit the rigid guidelines of a traditional, “Qualified Mortgage” (QM). These loans still require comprehensive verification of income and assets, but offer more flexibility on factors like debt-to-income (DTI) ratio, credit history, or the type of property being financed.
A Bank Statement Mortgage Program
A bank statement mortgage program is an alternative to traditional mortgages that uses 12-24 months of a borrower’s personal or business bank statements to verify income instead of tax returns and W-2s. These loans are designed for self-employed individuals, freelancers, or independent contractors whose taxable income may be lowered by business expenses and deductions. While they offer a solution for those who might not qualify for a conventional loan, they can come with higher interest rates and larger down payment requirements.
1099-only mortgage
A 1099-only mortgage is a type of non-qualified mortgage (non-QM) loan designed for self-employed individuals, freelancers, and independent contractors who receive income via IRS Form 1099, but whose tax returns show a lower net income due to significant write-offs. These loans allow borrowers to qualify using their gross 1099 income (or a high percentage of it) instead of their adjusted gross income from tax returns.
P & L Only
A 1099-only mortgage is a specialized non-qualified mortgage (non-QM) loan designed for self-employed individuals and independent contractors who receive income via IRS Form 1099 instead of a traditional W-2. These loans allow borrowers to qualify using their gross 1099 income or bank statements instead of standard tax returns, which is advantageous for those who use significant tax write-offs that lower their taxable (net) income on paper.
WVOE (Written Verification of Employment) mortgage
A WVOE (Written Verification of Employment) mortgage refers to a type of loan program, often a non-Qualified Mortgage (non-QM), where a borrower’s income and employment are verified directly through a standardized form completed by their employer, rather than requiring extensive documentation like tax returns, W-2s, or pay stubs.
Asset Qualifier Mortgage
An asset qualifier mortgage (also known as an asset depletion or asset-based loan) is a specialized home loan product that allows borrowers to qualify using their significant liquid assets rather than traditional income documentation (W-2s, pay stubs, tax returns). This type of non-qualified mortgage (Non-QM) is designed for high-net-worth individuals, retirees, or self-employed borrowers who have substantial wealth in assets but may have irregular or minimal traditional taxable income.
Investor Cash Flow DSCR
Investor Cash Flow DSCR refers to a type of mortgage loan for investment properties where the borrower qualifies based on the property’s ability to generate sufficient rental income to cover its debt obligations, rather than the borrower’s personal income. The Debt Service Coverage Ratio (DSCR) is the specific financial metric used to assess this cash flow.
Reverse Mortgage
A reverse mortgage is a loan that allows homeowners, typically age 62 or older, to convert a portion of their home equity into cash while retaining ownership of the property. Instead of making monthly payments to the lender, the homeowner receives funds from the lender, which can be taken as a lump sum, monthly payments, or a line of credit. The loan is not repaid until the homeowner dies, sells the home, or moves out permanently.
Hard Money or Private Loan
A hard money loan is a short-term, asset-based loan, usually secured by real estate, that is funded by private investors rather than traditional banks. Approval is based on the value of the collateral, not the borrower’s credit score or income, making them a fast way to get cash. However, they have high interest rates, shorter terms (typically 6 months to a few years), and may require a significant down payment.