How FHA Seller Concessions Work
An FHA seller concession can cover eligible closing costs, prepaid expenses, and discount points, but it cannot replace the buyer's required down payment or exceed the costs actually owed.
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Loan Programs
Educational overviews comparing common loan options to help borrowers understand which programs may fit different situations.
Bank Statement Loans: How Deposits Become Qualifying Income
Bank statement qualification is a deposit analysis, not a shortcut. The lender usually starts with deposits, removes activity that is not real business income, and then applies the expense treatment the file can actually support.
How Asset Depletion Creates Qualifying Mortgage Income
Asset depletion converts eligible post-closing assets into monthly qualifying income after the lender discounts certain accounts and removes funds needed for the transaction.
How Asset Utilization Qualifies Without a Traditional DTI
Asset utilization replaces a traditional DTI with a residual-income test based on the assets that will remain after closing and the borrower's monthly obligations.
How Lenders Calculate 1099 Income for a Mortgage
1099 income can support mortgage qualification, but the required history and calculation depend on the selected program. Standard agency and alternative-documentation paths do not use one universal formula.
How Lenders Use a Profit-and-Loss Statement for a Mortgage
A profit-and-loss mortgage program uses recent business net profit instead of tax returns, then applies the borrower's ownership percentage to determine usable monthly income.
What to Check Before Financing a Manufactured Home
Before making an offer on a manufactured home, verify its construction date, HUD identification, foundation, title status, land ownership, prior moves, and structural additions. These property details determine whether standard mortgage financing is available.
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