Income and Expenses per month
Debt Service Inputs calculated from loan details
Estimated P and I = —; Total Debt Service = —
Partner with Ryan Marks, Producing Branch Manager at Everyday Lending Group, to secure tailored mortgage solutions designed for first-time homebuyers across California. Get expert guidance on down payment assistance, affordable loan options, and navigating your first home purchase with confidence.
First-Time Homebuyer and Down Payment Assistance (DPA) Loans help make homeownership more accessible by offering financial aid for down payments and closing costs. These programs are designed for new buyers who need extra support in affording a home and often come in the form of grants, second mortgages, or forgivable loans.
These programs are ideal for first-time buyers, individuals who haven’t owned a home in the past three years, and those with limited savings. Many DPA programs also cater to teachers, healthcare workers, and public service employees. If you’re struggling to afford a down payment but have steady income and credit, a DPA loan may be a great option.
DPA programs provide financial assistance through grants or low-interest second mortgages that cover down payments and closing costs. Some programs require repayment, while others are forgivable after a set number of years. Eligibility typically depends on income, credit score, and property location.
DPA funds can often be used with popular mortgage loan programs. FHA loans allow down payments as low as 3.5 percent, making them a great option for first-time buyers. VA loans provide zero down payment options for eligible veterans and active-duty military members. USDA loans offer 100 percent financing for homes in designated rural areas. Conventional loans, such as Fannie Mae’s HomeReady and Freddie Mac’s Home Possible programs, allow as little as 3 percent down.
These programs reduce upfront costs, making homeownership more accessible. Some offer forgivable assistance, meaning you won’t have to repay the funds if you meet residency requirements. Others provide flexible credit requirements and lower interest rates than traditional loans. By lowering the financial barriers to homeownership, DPA loans help buyers purchase a home sooner.
If saving for a down payment is the biggest obstacle to buying a home, a DPA loan can provide the financial help you need. These programs are designed to assist qualified buyers with securing a home loan while keeping upfront costs low. If you’re unsure whether you qualify, speaking with a mortgage expert can help determine the best solution for your situation.
This powerful FHA 101.5% financing option is designed for first-time homebuyers — but it’s also open to non-first-time buyers, making it a flexible solution for many. With as little as a 600 credit score and DTI ratios up to 56.99%, this program is ideal for buyers who need a low barrier to entry and want to preserve their savings.
It covers 100% of the home’s price plus an extra 1.5% toward closing costs, with no second lien and no repayment required — it’s a forgivable grant, not a loan. Buyers can use this program to finance single-family homes, duplexes, townhomes, condos, manufactured homes (double or triple wide only), and PUDs.
The program allows for 2-1 temporary buydowns, and when paired with 3–6% in seller concessions, it becomes an unbeatable opportunity — especially when working with the right real estate agents. These loans are excellent for social media promotion: no money down, just a 600 score, and up to FHA max loan limits.
Unlike other products like Turbo (which includes a second lien), this solution leaves no additional liens, making potential refinancing much easier down the line — whether it’s a streamline, full credit-qual refinance, or cash-out.
If you’re looking for an accessible path to homeownership with real equity from day one — this is it.
One of the biggest challenges for many homebuyers is coming up with the down payment and covering closing costs. That’s where Down Payment Assistance (DPA) programs can make all the difference. These programs are designed to help eligible buyers get into a home sooner by reducing or even eliminating the upfront cash needed at closing.
At Everyday Lending Group, we work with a wide range of down payment assistance options, including state and local grant programs, to help you unlock funds that can be used toward your down payment, closing costs, or both.
What Is Down Payment Assistance?
Down payment assistance refers to financial help that makes it easier to afford a home purchase. These programs may come in the form of:
DPA programs are often available at the state, county, or city level, and they’re usually aimed at helping first-time buyers, low-to-moderate income households, or people purchasing homes in certain areas.
Grant Programs May Be Available in Your Area
Each state—and in many cases, each local community—offers different forms of assistance. In Minnesota and surrounding areas, there are a variety of down payment grants available for qualified buyers. These funds may cover a portion or all of your down payment and closing costs, depending on the program and your eligibility.
Because there are so many different programs out there, it’s important to work with a lender who knows how to locate and match you with the ones that fit your situation best.
How to Know If You Qualify
Qualification depends on a few key factors:
Even if you’ve owned a home in the past, you might still qualify. In many cases, you’re considered a first-time buyer if you haven’t owned a home in the last three years.
Let Us Help You Find the Right Assistance Program
At Everyday Lending Group, we’re here to take the guesswork out of the process. We’ll help you explore all of the down payment assistance and grant programs available in your state, walk you through the eligibility steps, and show you how to stack these benefits with your mortgage for maximum savings.
Contact us today and let us help you locate every dollar available to you. Whether you’re buying your first home or getting back into the market, we’ll help make your move more affordable
Whether you’re planning standard loan payments or exploring DSCR scenarios
Estimate DSCR = Net Operating Income ÷ Total Monthly Debt Service [P and I + Taxes + Insurance + HOA].
We specialize in helping first-time buyers navigate the home loan process and secure the best down payment assistance programs available. Our team works with a variety of lenders and housing agencies to match buyers with financing options that fit their needs.
From pre-qualification to closing, we guide you every step of the way. Our goal is to make homeownership possible by providing expert advice, personalized loan solutions, and seamless application support.
With access to a wide range of down payment assistance programs, competitive mortgage rates, and flexible financing options, we make buying your first home easier than ever. Contact us today to get started!
Many first-time buyers give up too soon, not realizing that grants, forgivable loans, and flexible assistance programs are available in their area. At Everyday Lending Group, Ryan Marks helps you uncover funding options that could make homeownership easier—and more affordable—than you think. Let’s explore what’s possible.
Everyday Lending Group offers access to a wide range of Down Payment Assistance (DPA) programs designed to help reduce or eliminate your upfront costs when buying a home. These programs are especially helpful for first-time homebuyers and those with limited funds.
DPA provides financial help toward your down payment or closing costs, making it easier to qualify for a mortgage. Assistance comes in the form of grants, forgivable loans, deferred loans, or low-interest second mortgages.
Some DPA programs offer grants that you don’t need to repay ever. These are typically reserved for buyers who meet specific income and property eligibility requirements.
Forgivable DPA loans are erased after a set number of years if you stay in the home. This can be a powerful tool for buyers looking to build equity without added debt.
Deferred payment loans don’t require any monthly payments or interest until you sell, refinance, or pay off your primary mortgage. These help keep your monthly costs low at the start.
Some programs offer low-interest second mortgages that help cover the down payment. These allow you to spread the cost over time and build toward full ownership.
Qualification is based on income, home location, and whether you’re a first-time homebuyer. Some programs also require homebuyer education courses. Even if you’ve owned a home before, you may still qualify.
Ryan Marks and the Everyday Lending Group team specialize in matching clients with the best down payment assistance options available in all 50 states. Reach out today and let us help make your move more affordable.
A First-Time Homebuyer / DPA Loan is a mortgage assistance program designed to help buyers afford a home by covering down payment and closing costs. These programs are often offered by state and local governments, housing agencies, and nonprofit organizations to support first-time buyers in becoming homeowners.
DPA programs provide financial assistance in different forms. Grants do not need to be repaid, making them an attractive option for buyers who qualify. Forgivable loans are structured so that repayment is waived if the buyer stays in the home for a specified period. Low-interest second mortgages provide additional financing to cover upfront costs, with repayment terms that are usually more flexible than traditional loans.
A first-time homebuyer is anyone who has not owned a home in the past three years. Even if you’ve owned property before, you may still qualify for first-time buyer programs if you haven’t held a mortgage or title recently. Ryan Marks can help you check your eligibility and unlock financing designed for new buyers.
What loan options are available for first-time buyers?
At Everyday Lending Group, we offer a range of mortgage programs ideal for first-time buyers, including:
Conventional loans with as little as 3% down
FHA loans for lower credit scores and smaller down payments
VA loans for eligible veterans and service members
USDA loans for rural and suburban buyers
Down Payment Assistance (DPA) programs
Can I get help with the down payment or closing costs?
Yes. We specialize in Down Payment Assistance programs that offer grants, forgivable loans, and low-interest second mortgages to reduce or eliminate your upfront costs. Many programs can be combined with your primary mortgage for even more savings.
What credit score do I need to qualify?
Credit score requirements vary by loan type:
FHA loans may be available with scores as low as 580
Conventional loans generally start around 620
Down Payment Assistance programs may have additional requirements
Ryan Marks will help you find the loan option that best matches your financial profile.
Do I need a large down payment to buy a home?
Not at all. Many first-time homebuyer loans allow you to buy a home with as little as 3% to 3.5% down. If you qualify for a VA or USDA loan, you may be able to purchase with zero down.
Is a homebuyer education course required?
Many DPA and first-time buyer programs require completion of a homebuyer education course, which helps you understand the mortgage process, budgeting, and homeownership responsibilities. These courses are usually online and low-cost or free.
How long does the mortgage process take for first-time buyers?
The full process—from pre-approval to closing—typically takes 30 to 45 days. Ryan Marks will guide you every step of the way and ensure everything moves smoothly, from documentation to closing day.
Why choose Ryan Marks at Everyday Lending Group?
With years of experience and access to first-time buyer programs in all 50 states, Ryan offers:
Personalized advice tailored to first-time homebuyers
Access to low down payment and low interest rate options
Help navigating local, state, and national assistance programs
A stress-free and educational mortgage experience
One of the biggest challenges for many homebuyers is coming up with the down payment and covering closing costs. That’s where Down Payment Assistance (DPA) programs can make all the difference. These programs are designed to help eligible buyers get into a home sooner by reducing or even eliminating the upfront cash needed at closing.
At Everyday Lending Group, we work with a wide range of down payment assistance options, including state and local grant programs, to help you unlock funds that can be used toward your down payment, closing costs, or both.
What Is Down Payment Assistance?
Down payment assistance refers to financial help that makes it easier to afford a home purchase. These programs may come in the form of:
DPA programs are often available at the state, county, or city level, and they’re usually aimed at helping first-time buyers, low-to-moderate income households, or people purchasing homes in certain areas.
Grant Programs May Be Available in Your Area
Each state—and in many cases, each local community—offers different forms of assistance. There are a variety of down payment grants available for qualified buyers. These funds may cover a portion or all of your down payment and closing costs, depending on the program and your eligibility.
Because there are so many different programs out there, it’s important to work with a lender who knows how to locate and match you with the ones that fit your situation best.
How to Know If You Qualify
Qualification depends on a few key factors:
Even if you’ve owned a home in the past, you might still qualify. In many cases, you’re considered a first-time buyer if you haven’t owned a home in the last three years.
Let Us Help You Find the Right Assistance Program
At Everyday Lending Group, we’re here to take the guesswork out of the process. We’ll help you explore all of the down payment assistance and grant programs available in your state, walk you through the eligibility steps, and show you how to stack these benefits with your mortgage for maximum savings.
Contact us today and let us help you locate every dollar available to you. Whether you’re buying your first home or getting back into the market, we’ll help make your move more affordable.
A Non-QM (Non-Qualified Mortgage) loan is a type of home loan that doesn’t follow traditional lending rules set by government-backed entities like Fannie Mae or Freddie Mac. Instead of relying solely on W-2s, tax returns, or standard debt-to-income ratios, Non-QM loans allow for alternative documentation and custom underwriting to help borrowers with unique income or credit situations.
Who can benefit from a Non-QM loan?
Non-QM mortgages are ideal for:
Self-employed borrowers and business owners
1099 earners and freelancers
Real estate investors
Foreign nationals
Individuals with recent credit events (like bankruptcy or foreclosure)
Ryan Marks specializes in helping borrowers who don’t fit the conventional mold—offering real solutions that reflect real lives.
What documents are required for Non-QM loan approval?
Non-QM loans offer more flexibility in documentation. Depending on your profile, you might use:
Bank statements (12–24 months)
1099 forms
Profit & Loss statements signed by a CPA
Asset statements for asset-utilization loans
Ryan will help you determine the best documentation path based on your profession and income structure.
Do Non-QM loans require high credit scores?
No. Many Non-QM programs accept lower credit scores—sometimes down to 600 or even below depending on the loan structure and down payment. Ryan can help find an option that works with your credit profile.
Can I use a Non-QM loan to purchase an investment property?
Yes. Non-QM loans include investor-friendly programs like DSCR loans, which qualify borrowers based on rental income rather than personal income. This is perfect for building or expanding your real estate portfolio.
Are Non-QM loans more expensive?
Interest rates for Non-QM loans are generally slightly higher than conventional loans to reflect the added flexibility and risk. However, the value of qualifying when other options fall short often outweighs the difference—especially if it helps you secure the property you want.
What types of Non-QM loans do you offer at Everyday Lending Group?
Ryan Marks provides a full suite of Non-QM solutions, including:
Bank Statement Loans
1099 Mortgage Loans
Asset-Based Lending
DSCR Investor Loans
Foreign National Loans
P&L-Based Mortgages
Private Money Loans
Each loan is custom-fit to your needs, with clear guidance from start to finish.
Why choose Ryan Marks for your Non-QM mortgage?
As a Producing Branch Manager with deep experience in Non-QM lending, Ryan:
Understands self-employed and investor financing inside and out
Offers personalized support from pre-approval to closing
Works with multiple Non-QM lenders to get the best fit for your situation
Serves clients in all 50 states with fast, flexible solutions
A Conventional Home Loan is a mortgage that’s not backed by a government agency like the FHA, VA, or USDA. These loans are originated and serviced by private lenders and typically conform to the underwriting guidelines set by Fannie Mae and Freddie Mac. As a result, they’re often considered the “standard” mortgage product and are one of the most popular options for homebuyers with strong credit and stable income.
Who should consider a Conventional Loan?
If you have a solid credit history, consistent income, and some money set aside for a down payment, a conventional mortgage might be your best bet. These loans are great for:
First-time homebuyers who meet the income and credit requirements
Move-up buyers looking to purchase a larger home
Refinancers wanting to lower their monthly payment or shorten their loan term
Real estate investors purchasing a second home or investment property
How much is the minimum down payment on a Conventional Loan?
The minimum down payment can be as low as 3% for qualified first-time buyers using programs like HomeReady® or Home Possible®. For most other borrowers, a 5% down payment is standard. Putting 20% down helps you avoid private mortgage insurance (PMI) and may lead to better rates.
What are the credit score requirements?
Most lenders require a minimum credit score of 620 to qualify for a conventional loan. However, the best interest rates and terms are usually reserved for borrowers with scores of 740 or higher. Ryan Marks works with borrowers across a wide range of credit profiles to find the most competitive terms available.
Do Conventional Loans require mortgage insurance?
Yes, but only if you put down less than 20%. This insurance is called Private Mortgage Insurance (PMI), and it protects the lender in case of default. The good news? PMI can often be removed once you reach 20% equity in your home, either through payments or rising property value.
What loan terms are available?
Conventional mortgages typically offer terms of 15, 20, or 30 years, and they can be either fixed-rate or adjustable-rate. A fixed-rate loan keeps your monthly principal and interest payment the same, while an ARM may start lower and adjust after a set period. Ryan helps you evaluate which structure fits your financial goals.
Can I use a Conventional Loan for investment or second homes?
Absolutely. Conventional loans are one of the most flexible options for second homes and non-owner-occupied investment properties. You’ll typically need a higher down payment—often 15% to 25%—and stronger reserves, but the loan terms can still be very favorable.
Are there income limits or property restrictions?
Unlike some government loans, conventional mortgages have no income limits and are available for a wide range of property types, including single-family homes, condos, townhomes, and multi-unit properties (up to 4 units, depending on occupancy).
How do I get started with a Conventional Loan?
Getting started is easy. Ryan Marks will guide you step by step—from pre-approval to final closing—and make sure your experience is efficient, transparent, and aligned with your budget and goals. Whether you’re buying your first home, moving up, or refinancing, you can rely on Ryan’s expertise to help you secure a conventional mortgage that works for you.
A VA Home Loan is a mortgage backed by the U.S. Department of Veterans Affairs, created to help eligible veterans, active-duty service members, and surviving spouses become homeowners with more flexible and affordable financing options. These loans are available through private lenders, but they come with unique benefits only the VA can guarantee—such as no down payment and no mortgage insurance.
Who is eligible for a VA Loan?
You may qualify for a VA loan if you meet at least one of the following criteria:
Served 90 consecutive days of active service during wartime
Served 181 days of active service during peacetime
Have more than 6 years in the National Guard or Reserves
Are the surviving spouse of a service member who died in the line of duty or from a service-related disability
Ryan Marks can help you obtain your Certificate of Eligibility (COE) and walk you through the qualification process step-by-step.
What are the key benefits of a VA Loan?
VA loans offer exceptional advantages compared to conventional mortgages, including:
$0 down payment required
No private mortgage insurance (PMI)
Competitive interest rates
Flexible credit guidelines
Limited closing costs
No prepayment penalties
These benefits make VA loans one of the most powerful tools available for homebuyers who have served.
What kind of property can I buy with a VA Loan?
VA loans can be used to purchase a primary residence, including single-family homes, condos, townhomes, and even some manufactured homes. You can also use a VA loan to build a new home, make energy-efficient upgrades, or refinance an existing mortgage.
Do VA Loans require a down payment?
No. One of the standout features of a VA loan is 100% financing. This means no down payment is required in most cases, which makes homeownership more accessible—especially for first-time buyers and military families.
Are VA Loans only for first-time homebuyers?
Not at all. You can use a VA loan more than once, and even if you’ve used your benefit in the past, it may be restored under certain conditions. Ryan can help you determine if you’re eligible to reuse your VA entitlement.
What are the credit score and income requirements?
While the VA doesn’t set a strict minimum credit score, most lenders prefer a score of 620 or higher. Income requirements are also flexible, and VA loans use a unique residual income calculation to ensure affordability. Ryan Marks specializes in helping borrowers navigate these guidelines and present the strongest application possible.
Can I use a VA Loan to refinance?
Yes. You can take advantage of a VA Streamline Refinance (IRRRL) to reduce your interest rate quickly with minimal documentation, or use a VA Cash-Out Refinance to access your home equity. These options are designed to be fast, simple, and cost-effective for veterans and military families.
How do I start the VA Loan process with Ryan Marks?
Start by reaching out for a VA loan consultation. Ryan will help you secure your Certificate of Eligibility, review your financing goals, and match you with the best VA loan options available. With expert guidance, personalized service, and the support of Everyday Lending Group, Ryan ensures a smooth path to homeownership for those who have served.
Yes, absolutely. At Everyday Lending Group, Ryan Marks specializes in helping self-employed borrowers secure home financing—whether you’re a small business owner, freelancer, contractor, or gig worker. While traditional mortgages can be challenging without W-2 income, Ryan offers flexible solutions designed for non-traditional income.
What are self-employed mortgage loans?
Self-employed mortgages are home loans tailored for individuals who don’t receive a traditional salary. Instead of relying on W-2s and pay stubs, these programs use alternative documentation—like bank statements, 1099 forms, profit and loss (P&L) statements, or asset-based income—to assess your ability to repay.
What mortgage options are available for self-employed buyers?
Ryan offers a range of Non-QM mortgage solutions, including:
Bank Statement Loans (using 12–24 months of deposits)
1099 Mortgage Loans (ideal for independent contractors)
Profit and Loss (P&L) Loans (signed by your CPA)
Asset-Based Mortgages (using retirement/investment accounts)
DSCR Loans (for investment property buyers)
These flexible products are designed to work around the income complexity common among entrepreneurs.
Do I need to show tax returns to qualify?
Not necessarily. Many self-employed mortgage programs do not require tax returns. In fact, if you’ve taken significant tax write-offs (which reduce your reported income), a bank statement or P&L program may help you qualify for a larger loan amount than a conventional mortgage would allow.
How do Bank Statement Loans work?
Instead of tax returns, Bank Statement Loans use your personal or business account deposits over the past 12 to 24 months to calculate qualifying income. Ryan will review your average monthly deposits and help determine how much you can afford based on your real cash flow—not your net taxable income.
What if I’ve only been self-employed for a short time?
Many programs require at least two years of self-employment, but some allow just one year with a strong prior history in the same line of work. Ryan can evaluate your full profile and guide you to the best program that fits your experience, income pattern, and credit standing.
What credit score is needed for a self-employed mortgage?
Most self-employed mortgage programs require a minimum credit score of 620, though higher scores may help you qualify for better rates and lower down payments. Ryan will review your credit and help you explore multiple options based on your full financial picture.
Are self-employed mortgage rates higher?
Because these loans fall under Non-QM (non-qualified mortgage) guidelines, interest rates may be slightly higher than traditional mortgages. However, Ryan works with a wide network of lenders and will help you shop competitive rates and structure a loan that fits your budget.
How do I get started?
If you’re self-employed and thinking about buying, refinancing, or investing, Ryan Marks will guide you every step of the way. From reviewing your income documents to matching you with the best mortgage program, Ryan makes the process transparent, efficient, and tailored to your goals.
A DSCR loan, which stands for Debt Service Coverage Ratio loan, is a mortgage program created for investors. Instead of focusing on your personal income, lenders look at whether the rental income from the property is enough to cover the monthly loan payment.
In other words, they want to see if the property can pay for itself. If the rental income is equal to or greater than the mortgage and other property-related expenses, you may qualify for this type of loan.
DSCR loans are ideal for investors who want to grow their rental portfolio, especially if they are self-employed or prefer not to use traditional income documents like tax returns or pay stubs. It is a flexible option that focuses on the strength of the investment, not your personal income.
What Is a Good DSCR?
The minimum DSCR (Debt Service Coverage Ratio) required for a loan can vary depending on the lender and overall market conditions. Some lenders offer zero ratio or no ratio loan options, meaning the rental income amount does not need to meet a specific threshold. However, these programs often require a larger down payment, typically 25% or more.
In most cases, lenders prefer to see a DSCR of at least 1.25, which indicates that the property’s rental income is 25% higher than the total monthly expenses, including the mortgage payment.
Even if your DSCR falls below that number, you may still qualify by demonstrating your ability to repay in other ways. For example, some borrowers use personal income documentation or other compensating factors. At Everyday Lending Group, we also allow borrowers to use existing assets to help meet debt coverage requirements. This is just one of the many flexible solutions we offer to support real estate investors with unique financial situations.
How Is DSCR Different from Other Financial Ratios?
While DSCR is a key ratio used to evaluate loan eligibility for real estate investors, it’s not the only one lenders may consider. Depending on the loan type and borrower profile, other financial ratios can come into play. Here are a few you might come across:
Interest Coverage Ratio
This ratio compares a borrower’s earnings to the amount of interest they owe on outstanding debt. Rather than looking at total debt, it focuses only on interest payments. It helps lenders assess whether a borrower generates enough profit to cover interest expenses comfortably.
Asset Coverage Ratio
This ratio measures how well a borrower could repay debts by liquidating assets. It evaluates whether the value of owned assets is enough to meet outstanding financial obligations if needed.
Cash Coverage Ratio
The cash coverage ratio looks at a borrower’s available cash and short-term assets to determine if they have enough liquidity to cover debt payments without relying on future income.
Each of these ratios serves a different purpose, but DSCR remains the most relevant for real estate investors since it focuses on the property’s income potential rather than personal financials alone.
Get Pre-Approved for a DSCR Loan Today
At Everyday Lending Group, we help real estate investors qualify for financing based on the income generated by their properties rather than personal income. DSCR loans are a powerful tool for building or expanding your investment portfolio, especially if you’re looking for a more flexible qualification path.
Our team will calculate your Debt Service Coverage Ratio and walk you through your financing options, helping you understand how much you may be eligible to borrow. When you’re ready to move forward, we’ll guide you through the entire process from application to closing.
Connect with Everyday Lending Group today to learn more about how a DSCR loan can support your investment goals.
A Jumbo Home Loan is a type of mortgage used to finance high-value homes that exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In most areas, the 2025 conforming loan limit is $766,550, but this may be higher in certain high-cost markets. If you’re purchasing a home above that limit, a jumbo mortgage allows you to secure the financing you need without splitting your loan into multiple parts.
Who needs a Jumbo Loan?
If you’re buying a luxury home, investment property, or relocating to a high-cost area, and the loan amount you require exceeds the conforming limit in your county, you’ll likely need a jumbo loan. Ryan Marks works with clients purchasing homes across a wide price range and specializes in helping them secure flexible, competitive jumbo financing.
What are the benefits of a Jumbo Loan?
Higher loan amounts to finance luxury or high-value properties
Fixed-rate and adjustable-rate options
Interest-only options available for select borrowers
Available for primary residences, second homes, and investment properties
No PMI required with certain loan structures
Flexible underwriting for self-employed borrowers and those with complex income
What’s the minimum down payment for a Jumbo Loan?
Down payment requirements vary, but many jumbo loans now allow as little as 10% down for qualified borrowers. However, a larger down payment may improve your loan terms and lower your interest rate. Ryan will walk you through your options based on your profile and financial goals.
Are credit requirements more strict for Jumbo Loans?
Yes, since jumbo loans are not backed by Fannie Mae or Freddie Mac, lenders typically apply stricter credit and income standards. A minimum credit score of 700 is often required, and your debt-to-income ratio (DTI) should be strong. Ryan Marks helps his clients present the most competitive application possible, even if their financials are non-traditional.
Can I qualify if I’m self-employed or have fluctuating income?
Yes, Ryan offers jumbo loan solutions for self-employed borrowers using bank statements, 1099s, or asset-based qualification methods. These programs are designed for entrepreneurs, business owners, and high-net-worth individuals who may not fit traditional guidelines.
Is a Jumbo Loan available for a second home or vacation property?
Absolutely. Jumbo mortgages can be used for second homes, vacation getaways, or investment properties, provided you meet the lender’s eligibility and reserve requirements. Ryan will help you compare loan options and structure financing that aligns with your plans.
How do interest rates on Jumbo Loans compare to conventional loans?
Jumbo mortgage rates are often slightly higher than conforming loan rates due to increased risk for the lender, but they remain competitive—especially for borrowers with excellent credit and strong assets. Ryan works with multiple lenders to secure the most favorable rate available for your situation.
How do I get started with a Jumbo Loan?
Reach out to Ryan Marks for a personalized jumbo loan consultation. He’ll help you determine current conforming limits in your area, assess your financing needs, and match you with a jumbo mortgage that gives you the flexibility and purchasing power to move forward with confidence.
Yes, absolutely. Ryan Marks works with foreign nationals and non-permanent residents who want to purchase or invest in U.S. real estate. With Foreign National Loans, you don’t need U.S. credit, a Social Security Number, or a U.S.-based income to qualify. These loans are ideal for international buyers who want to own property in America.
What is a Foreign National Loan?
A Foreign National Loan is a specialized mortgage for individuals who live outside the United States or are not legal residents. These loans help global buyers purchase vacation homes, investment properties, or second homes in the U.S. Ryan offers competitive financing solutions through lenders experienced in working with international clients.
What documents are needed to qualify?
Documentation requirements vary, but typically you’ll need to provide:
A valid passport or visa
Proof of income or assets from your home country
Bank statements (foreign or U.S.-based)
A letter of credit reference or an international credit report (in lieu of U.S. credit history)
Ryan and his team will walk you through every step to make sure you meet all requirements with confidence.
Do I need a U.S. credit score?
No. Most foreign national loan programs do not require U.S. credit history. Instead, lenders evaluate your global financial picture, assets, and income. Ryan works with lenders who understand how to assess non-traditional credit and simplify the process for international borrowers.
What is an ITIN Mortgage Loan?
An ITIN Loan is designed for non-U.S. citizens who live and work in the United States and file taxes using an Individual Taxpayer Identification Number (ITIN) instead of a Social Security Number. These loans help undocumented or non-permanent residents become homeowners, even without traditional legal residency or work visas.
Can I qualify for an ITIN Loan without a Green Card or visa?
Yes. If you pay taxes using an ITIN and can show income, bank statements, and a consistent financial history, you may qualify. Ryan Marks offers access to ITIN-friendly loan programs that require no Social Security Number and use alternative documentation for qualification.
How much do I need for a down payment?
Foreign national loans typically require 20% to 30% down, depending on the loan amount, property type, and location. ITIN loans may allow for 10% to 20% down, with options for gift funds and flexible underwriting. Ryan will help you understand your budget and maximize your financing potential.
What types of properties can I purchase?
With both foreign national and ITIN loans, you can finance:
Primary residences
Vacation homes
Rental or investment properties
Ryan helps clients finance a wide range of residential real estate and will help structure your loan based on your goals.
How do I get started?
Whether you’re an international buyer or an ITIN taxpayer ready to become a homeowner, Ryan Marks at Everyday Lending Group will guide you through every step. From document prep to lender selection, Ryan ensures a clear and stress-free experience built around your unique circumstances.
A HELOC, or Home Equity Line of Credit, is a revolving line of credit that lets you borrow against the equity you’ve built in your home. Think of it as a credit card secured by your property. You can withdraw funds as needed, pay them back, and borrow again—making it one of the most flexible financing tools available for homeowners.
How does a HELOC work?
With a HELOC, you’re approved for a maximum credit limit based on your home’s equity. During the draw period (typically 5–10 years), you can access funds at any time. You’ll usually make interest-only payments during this phase. After that, you enter the repayment period, where you’ll begin repaying the principal plus interest over time.
What can I use a HELOC for?
A HELOC can be used for virtually any financial goal, including:
Home renovations or upgrades
Paying off high-interest debt
Covering college tuition
Emergency expenses
Investing in another property or business
Ryan Marks can help you structure a HELOC around your specific needs and long-term financial goals.
How much equity do I need to qualify?
Most lenders require that you have at least 15% to 20% equity in your home to qualify for a HELOC. The more equity you have, the more you may be able to borrow. Ryan can review your current home value and loan balance to help determine your available borrowing power.
Is a HELOC better than a home equity loan?
It depends on your financial goals. A HELOC offers flexibility with a revolving credit line and variable interest rates, while a home equity loan provides a lump sum with fixed payments and a fixed rate. Ryan can help you compare both options and decide which is best for your situation.
Do I need a high credit score to get a HELOC?
While a higher credit score can help you get better terms, many HELOC programs offer competitive rates starting at a 620 credit score. Everyday Lending Group also offers alternative qualification options if your credit history is less than perfect.
Can I get a HELOC on a second home or investment property?
Yes. While most HELOCs are offered on primary residences, there are programs available for second homes and investment properties. Ryan Marks specializes in creative financing solutions and can help you tap into equity across your real estate portfolio.
How do I get started?
It all starts with a quick consultation. Ryan Marks at Everyday Lending Group will review your home’s equity, discuss your financial goals, and walk you through your HELOC options—from application to approval. Whether you’re funding a renovation or paying off debt, he’ll make the process smooth and stress-free.
Investment property financing refers to loan programs designed for purchasing or refinancing real estate that generates rental income or capital appreciation. Unlike primary residence loans, these mortgages are tailored for real estate investors who want to build wealth through rental properties, fix-and-flips, or long-term holds.
What types of loans are available for investment properties?
At Everyday Lending Group, Ryan Marks offers a wide range of financing options, including:
DSCR Loans (Debt Service Coverage Ratio)
Asset-Based Loans
Private Money Loans
Bank Statement and 1099 Loans for Self-Employed Investors
Conventional Investment Loans
Each program is tailored to fit different goals, whether you’re buying your first rental or expanding an existing portfolio.
What is a DSCR loan, and why is it ideal for investors?
A DSCR loan qualifies you based on the rental income generated by the property rather than your personal income. It’s a great solution for self-employed investors or those who prefer a simplified approval process. If your rental income covers or exceeds the monthly expenses, you may qualify—no tax returns required.
How much down payment is needed for an investment property?
Typically, investment property loans require 15% to 25% down, depending on the loan type and property use. Some private and alternative loan options may offer more flexibility with lower down payments when combined with strong rental income or asset backing.
Can I finance short-term rentals or Airbnb properties?
Yes! Ryan helps clients finance vacation rentals, Airbnb properties, and short-term rentals using specialized programs that account for projected rental income and seasonal trends. These products allow you to leverage non-traditional income to qualify.
Is credit score important for investment property loans?
Yes, but requirements vary. While many conventional lenders require a minimum 680 credit score, Ryan also works with flexible Non-QM programs that allow for lower scores—sometimes as low as 620—depending on the loan and property performance.
Can I use rental income from the property to qualify?
Absolutely. Most investment loan programs allow you to use actual or projected rental income to qualify. DSCR loans are based entirely on rental income, while other programs may use leases, appraisals, or historical rent statements to calculate income.
Do you work with out-of-state investors?
Yes! Ryan Marks serves clients in all 50 states, and he frequently works with out-of-state and remote investors looking to finance properties nationwide.
How do I get started with investment property financing?
Schedule a free consultation with Ryan Marks at Everyday Lending Group. He’ll review your goals, discuss your financial picture, and walk you through the most strategic mortgage options to maximize your returns and grow your real estate portfolio with confidence.
A USDA home loan is a government-backed mortgage designed to help low-to-moderate income buyers purchase homes in eligible rural and suburban areas. This loan program is offered by the U.S. Department of Agriculture (USDA) and features zero down payment, competitive interest rates, and flexible qualification guidelines.
Who qualifies for a USDA loan?
USDA loans are available to homebuyers who meet income limits, plan to occupy the home as a primary residence, and purchase a property in a USDA-eligible area. Eligibility is determined by location and household income, which generally must be below 115% of the area median income (AMI).
Do I need to live in a rural area to qualify?
Not necessarily. Many suburban areas and smaller towns qualify for USDA financing. Ryan Marks will help you verify whether the home you’re interested in is located within a USDA-approved zone using the official eligibility map.
What are the benefits of a USDA loan?
$0 down payment required
Low fixed interest rates
Reduced mortgage insurance premiums
Flexible credit guidelines
Closing costs can be rolled into the loan
These advantages make USDA loans one of the most affordable paths to homeownership for qualified buyers.
Are USDA loans only for first-time homebuyers?
No. While they’re ideal for first-time buyers, USDA loans are available to any qualified borrower who meets the income and property eligibility requirements—even if you’ve owned a home before.
What credit score do I need to qualify?
Most USDA lenders look for a credit score of 640 or higher for automated approval. However, Ryan Marks can help review your full credit profile and work with manual underwriting options if needed.
Can I use a USDA loan for a manufactured or new construction home?
Yes. USDA financing may be available for new construction, manufactured homes, and even renovation loans, provided the home and builder meet program standards. Ryan can walk you through the approval process for each property type.
What’s the income limit for USDA loans?
The income limit varies by location and household size. For example, a family of four in Minnesota may have a different income ceiling than a couple in Texas. Ryan will help you calculate your eligibility and ensure you meet the current income guidelines.
How do I apply for a USDA home loan?
Getting started is easy. Contact Ryan Marks at Everyday Lending Group for a free USDA loan consultation. He’ll help you verify eligibility, gather required documentation, and guide you through every step of the process—all while helping you access affordable financing with no down payment.
An Adjustable-Rate Mortgage (ARM) is a type of home loan where the interest rate starts fixed for a set period—usually 5, 7, or 10 years—and then adjusts periodically based on market conditions. After the fixed-rate period ends, your rate and monthly payment may increase or decrease, depending on the current index rate.
Who should consider an ARM?
ARMs are often a smart choice for buyers who plan to sell, refinance, or relocate before the adjustable period begins. They’re also ideal for those who want lower initial monthly payments compared to fixed-rate mortgages.
What are the benefits of an ARM loan?
Lower starting interest rate than fixed-rate loans
Reduced monthly payments during the initial fixed term
Potential to save money if you don’t stay in the home long-term
Some ARM options offer rate caps to limit how much your rate can increase
What are the risks of an ARM?
Once the initial fixed period ends, your interest rate may increase, which can lead to higher monthly payments. That’s why Ryan Marks works closely with clients to explain how rate adjustments work and help them choose an ARM product that fits their financial strategy and risk tolerance.
What does 5/6, 7/6, or 10/6 ARM mean?
These numbers refer to how the loan is structured:
The first number is the number of years your rate is fixed (e.g., 5 years).
The second number shows how often the rate adjusts after that period (e.g., every 6 months).
So a 5/6 ARM has a fixed rate for 5 years and adjusts every 6 months afterward.
How is the new rate determined after the fixed period?
The rate is based on a benchmark index (such as SOFR or the 1-Year Treasury) plus a margin set by the lender. Ryan will explain the exact formula and rate caps, which help protect you from drastic increases.
Can I refinance my ARM before it adjusts?
Yes! Many borrowers choose to refinance into a fixed-rate mortgage before the adjustment period begins. Ryan Marks can help you monitor rates and guide you through the refinance process when the time is right.
Is an ARM loan right for me?
It depends on your financial goals, future plans, and comfort with rate changes. Ryan will take the time to evaluate your scenario, explain the pros and cons of an ARM vs. fixed-rate loan, and help you choose the mortgage that best fits your lifestyle.
How do I get started with an ARM loan?
Start by reaching out to Ryan Marks at Everyday Lending Group for a personalized consultation. He’ll walk you through your ARM loan options, review rate scenarios, and help you decide if an adjustable-rate mortgage is the right fit for your homeownership journey.
A reverse mortgage is a specialized home loan that allows homeowners aged 62 and older to convert a portion of their home equity into cash—without selling their home or making monthly mortgage payments. It’s designed to provide additional retirement income and financial flexibility in later life.
How does a reverse mortgage work?
Unlike traditional mortgages, with a reverse mortgage the lender pays you—either in a lump sum, monthly payments, or as a line of credit. The loan is repaid only when you sell the home, move out permanently, or pass away.
Who is eligible for a reverse mortgage?
To qualify, you must:
Be at least 62 years old
Own your home outright or have significant equity
Live in the home as your primary residence
Stay current on property taxes, homeowner’s insurance, and maintenance
What types of reverse mortgages are available?
The most common option is a Home Equity Conversion Mortgage (HECM), which is insured by the FHA. Ryan Marks also offers jumbo reverse mortgage programs for higher-value homes that exceed HECM loan limits.
Do I still own my home with a reverse mortgage?
Yes, you retain full ownership of your home. You are still responsible for property taxes, insurance, and upkeep. The reverse mortgage is simply a lien against your home equity.
What are the benefits of a reverse mortgage?
Access to tax-free cash
No monthly mortgage payments
Flexible disbursement options (lump sum, monthly, line of credit)
Helps seniors age in place with greater financial independence
Can be used to pay off existing mortgage, cover healthcare costs, or supplement income
What are the potential downsides?
Reduces your home equity over time
May impact inheritance for heirs
You must maintain the home and stay current on taxes and insurance
Not ideal if you plan to move within a few years
Will my heirs be responsible for repayment?
No, reverse mortgages are non-recourse loans, meaning your heirs are never personally liable beyond the value of the home. When the loan becomes due, they can choose to sell the home, refinance the loan, or let the lender sell it to satisfy the balance.
Is counseling required?
Yes. To help you fully understand the risks and benefits, HUD-approved counseling is required before taking out a reverse mortgage. Ryan will guide you through the process and connect you with a certified counselor.
How do I get started with a reverse mortgage?
If you’re a senior homeowner considering tapping into your home equity, Ryan Marks at Everyday Lending Group is here to help. With clear guidance and personalized advice, Ryan will help you explore reverse mortgage options and decide if it’s the right fit for your retirement strategy.
Yes, you can. Everyday Lending Group offers Bank Statement Loans, 1099 Loans, and P&L Loans all of which allow you to qualify based on alternative forms of income verification instead of tax returns.
Loan amounts can range up to $20 million depending on your bank statement history, credit profile, and down payment. You may qualify using 12 or 24 months of personal or business bank statements.
Down payments vary by product. Some programs start as low as 10% especially for those with strong credit while others, like ITIN or asset-based loans, may require 15% to 30% down.
Absolutely. If you’ve recently transitioned from W-2 to 1099 income or started your own business, Everyday Lending Group offers solutions like 1099 mortgage loans and flexible bank statement programs.
Yes. We offer second mortgages and home equity lines of credit (HELOCs), including cash-out options. These can be paired with other Non-QM loan types and are available for both primary residences and investment properties.
Yes. Many of our loan products, including Bank Statement, DSCR, and Asset-Based Loans, offer interest-only payment options to help reduce your monthly expenses during the initial loan term.
Our process is simple and digital. You’ll complete a brief application and provide the required alternative documentation such as bank statements, a CPA-prepared P&L, or proof of rental income. From there, we’ll guide you every step of the way, from approval to closing.
Yes, obtaining a mortgage with 1099 income is entirely feasible. Many lenders, including Everyday Lending Group, recognize that traditional employment isn’t the only indicator of financial stability. Whether you’re a freelancer, independent contractor, or self-employed professional, there are mortgage programs tailored to accommodate your unique income situation.
As of March 2025, approximately 16.5 million Americans are self-employed, accounting for about 10.4% of the total U.S. workforce. This diverse group includes small business owners, real estate professionals, gig economy workers, and full-time content creators.
With the expansion of digital platforms and the increasing prevalence of remote work, more individuals are generating income through freelance projects, consulting, and entrepreneurial ventures. Lenders are increasingly acknowledging these non-traditional income streams when evaluating mortgage applications.
At Everyday Lending Group, we offer flexible mortgage solutions that consider your complete financial picture. Beyond reviewing 1099 forms, we assess bank statements, asset documentation, and other qualifying methods to evaluate your ability to repay a loan.
If you’re self-employed and contemplating homeownership, we’re here to assist. Our team will guide you through every step, ensuring a clear path to securing a mortgage that aligns with your lifestyle and financial goals.
1099 Mortgage Qualification Requirements
To qualify for a 1099 mortgage, you’ll need to meet a few key requirements that help demonstrate financial stability, even without traditional W-2 income. These programs are designed to work with self-employed individuals, business owners, and independent contractors. Here’s what most lenders look for:
Self-Employment or Business Ownership
You should be self-employed or operating your own business for at least two years. In some cases, one year may be acceptable if you have prior experience in the same industry or line of work.
Down Payment
A minimum down payment of 10% is typically required. Depending on your credit profile, a larger down payment may be necessary. Keep in mind, a higher down payment can often help you secure better rates and loan terms.
Credit Score
A credit score of 620 or higher is typically needed to qualify. Higher scores may open the door to more favorable mortgage terms.
Loan Amounts
Loan sizes can range from a minimum of $100,000 up to $20 million, depending on the lender and program.
At Everyday Lending Group, we specialize in helping self-employed borrowers navigate these unique requirements. Whether you’re buying a home or refinancing, we’re here to help you find the loan that fits your income and goals.
Ready to see if you qualify for a 1099 mortgage?
Let’s make it simple. Connect with the team at Everyday Lending Group and we’ll walk you through your options, answer your questions, and help you take the next step toward homeownership or refinancing—on your terms.
Reach out today to get started. We’re here to help.
If you’re self-employed or don’t get a traditional paycheck, qualifying for a mortgage can feel like a headache. That’s where a Bank Statement Loan comes in. It’s a smart and flexible option for people who earn income a little differently.
Instead of asking for tax returns or pay stubs, this type of loan lets you qualify using your bank statements. Lenders typically review 12 to 24 months of statements and look at your deposits to understand your income. This approach makes the process much easier if you’re a business owner, freelancer, or gig worker.
You can use a Bank Statement Loan to:
Buying a home
This is a great option for self-employed buyers who want to purchase a home without going through all the usual documentation hurdles.
Refinance your current mortgage
Whether you’re hoping to lower your rate or pull cash from your home’s equity, this loan gives you flexibility and control.
Who Is This Loan For?
This loan is ideal for anyone who doesn’t fit the “standard” borrower mold, including:
If your income is steady but not reflected on a W-2, a Bank Statement Loan could be the right move. It helps you qualify based on how you actually earn, without the usual paperwork stress.
What You’ll Need to Qualify
Bank statement loans have their own set of requirements. They’re designed specifically for self-employed individuals and anyone with non-traditional income. While each lender may have slightly different guidelines, here’s a general idea of what you’ll need:
Bank Statements Instead of Tax Returns
Lenders typically ask for 12 to 24 months of personal or business bank statements to verify your income. They will review your deposits to make sure you have consistent cash flow and the ability to manage a mortgage.
Credit Score
Most lenders look for a credit score of at least 620. A higher score can help you qualify for better rates and loan terms.
Debt to Income Ratio (DTI)
Your DTI measures how much of your income goes toward debt payments each month. For cash-out refinances, some lenders allow a DTI as high as 55 percent.
Self-Employment History
You’ll generally need to show at least two years of self-employment. Some lenders may consider one year if you have prior experience in the same field or industry.
Home Appraisal
Self-Employed? This Loan Was Made for You
If you’re a business owner, freelancer, consultant, or gig worker, you know how tough it can be to qualify for a mortgage through traditional channels. That’s exactly why Bank Statement Loans exist. They give you a more realistic way to qualify based on how you actually earn, not just what’s reported on a W-2.
At Everyday Lending Group, we understand the unique challenges self-employed borrowers face. Whether you’re looking to refinance and pull out equity, purchase a property, or just want to work with a lender who gets it, we’re here to help.
Let’s make the process simple, smooth, and built around your income.
Think a Bank Statement Loan might be right for you? Contact us today and we’ll help you find out
Owning a home is one of the most rewarding financial and personal investments you can make. Unlike renting, homeownership allows you to build equity, enjoy tax benefits, and truly make a space your own. Here are just a few of the many perks of owning a home:
If these benefits sound appealing, the good news is that homeownership is achievable, even within the next six months! Here’s how you can make it happen step by step.
Month 1: Assess Your Financial Health
Month 2: Understand Mortgage Options and Current Interest Rates
Month 3: Get Pre-Approved and Define Your Budget
Month 4: Begin Your Home Search
Month 5: Make an Offer and Secure Financing
Month 6: Conduct Inspections and Close the Deal
Embark on Your Homeownership Journey Today
At Everyday Lending Group, we’re committed to guiding you through every step of the homebuying process. Whether you’re seeking advice on loan programs, current interest rates, or starting your pre-approval, our team is here to assist.
A home equity loan (HELOAN) is a type of loan that allows you to borrow against the equity in your home. If you’ve owned your home for a while, you may have built up significant equity, which you can use as collateral to secure financing.
Because a home equity loan is backed by your property, it typically offers lower interest rates compared to personal loans, business loans, and credit cards, making it a cost-effective borrowing option.
How Does a Home Equity Loan Work?
If you’re considering a home equity loan, the first step is to determine how much equity you have in your home. While lending limits vary by lender, most allow you to borrow up to 90% of your home’s equity.
Once approved, you’ll receive a lump sum that you can use for any purpose, such as home improvements, debt consolidation, or major expenses. You’ll then make fixed monthly payments, which include principal and interest, over a set loan term.
If you decide to sell your home before repaying the loan, the outstanding balance will be deducted from the proceeds of the sale.
To qualify, you’ll typically need to provide W-2s, tax returns, and other financial documentation to demonstrate your ability to repay the loan. If you’re self-employed, you may be eligible for a bank statement home equity loan, which allows for alternative income verification.
Benefits of a Home Equity Loan
Drawbacks of a Home Equity Loan
Considering a home equity loan? Contact us today to see if you qualify!
Where Are Home Equity Loans Available?
Home equity loan programs vary by state and lender. Everyday Lending Group offers home equity loans in many states nationwide. Contact us today to see if your state is eligible!
See If You Qualify for a Home Equity Loan
Whether you’re looking for a home equity loan, asset-based financing, or a non-QM loan, Everyday Lending Group is here to help. Our diverse loan options ensure that you find the right financing for your needs.
Get in touch with us today to explore your home equity loan options and receive a free quote!
The first step is to get pre-approved! This involves a quick review of your credit, income, and financial situation. Pre-approval gives you a clear picture of what you can afford and makes home shopping easier. Ready to get started? Let’s talk!