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Is HELOC Interest Deductible?
Sometimes yes, sometimes no. HELOC interest is tax deductible in 2026 only if you use the money to buy, build, or fix up the same home that backs the HELOC. If you use the money for other things, like paying off credit cards or going on vacation, you cannot deduct the interest. The Simple Rule ... Read more
Can You Use Your IRA to Purchase a Home?
Purchasing a home is one of the most significant financial decisions a person can make. For many, saving for a down payment or finding financing options can be challenging. One potential source of funds is an Individual Retirement Account (IRA). People ask us all the time if they are allowed to use an IRA to ... Read more
Can You Get a Home Loan with Credit Card Debt?
Yes, you can get a home loan with credit card debt in 2026, but the amount of debt and how it affects your debt-to-income (DTI) ratio determines whether you qualify and at what rate. Conventional loans backed by Fannie Mae and Freddie Mac allow DTI up to 50% with automated underwriting, FHA loans permit up ... Read more
How to Calculate Debt to Income for Mortgage Qualification
To calculate debt to income for a mortgage, add up your monthly debt obligations (housing, credit cards, auto loans, student loans, child support, and other recurring payments) and divide that total by your gross monthly income, then multiply by 100. Lenders use this DTI ratio to determine how much mortgage you can afford. In 2026, ... Read more
How Does a Home Equity Loan Work for Home Improvements?
The 2026 Guide to Using Home Equity to Remodel By John Tappan | NMLS# 394171 A home equity loan for home improvements lets you borrow against your home’s accumulated equity as a fixed-rate lump sum, repaid on a set schedule of 5 to 30 years. Most lenders in 2026 allow you to borrow up to ... Read more
What Is a Jumbo Mortgage Loan?
A jumbo mortgage loan is a home loan that exceeds the conforming loan limits set annually by the Federal Housing Finance Agency (FHFA). Because jumbo home loans cannot be purchased or guaranteed by Fannie Mae or Freddie Mac, they sit outside the standard conforming market and that structural reality drives every other aspect of how ... Read more
How Soon Can You Refinance a FHA Loan?
By John Tappan | NMLS# 394171 How soon you can refinance a FHA loan depends on which refinance product you choose. The FHA Streamline Refinance requires a 210-day waiting period from your current loan’s closing date, six on-time payments, and at least six months since your first payment due date. The FHA rate-and-term refinance requires ... Read more
Do You Pay PMI on a USDA Loan?
By John Tappan | NMLS# 394171 No, USDA loans do not require traditional private mortgage insurance (PMI). However, USDA borrowers do pay a similar cost called the USDA guarantee fee, which has two parts: a 1.00% upfront fee charged at closing and a 0.35% annual fee paid monthly for the life of the loan. The ... Read more
How Long Is an FHA Appraisal Good For?
An FHA appraisal is valid for 180 days from the appraiser’s effective date. If the loan does not close within that window, the lender can order an appraisal update that extends validity to one full year from the original effective date. This rule comes from HUD’s Single Family Housing Policy Handbook 4000.1 and FHA Mortgagee ... Read more
How Long After Bankruptcy Can I Get an FHA Loan?
You can get an FHA loan 2 years after a Chapter 7 bankruptcy discharge or 12 months after starting your Chapter 13 trustee payment plan with court approval. The Chapter 7 wait is measured from the discharge date, not the filing date. The Chapter 13 wait does not require discharge — you can qualify while ... Read more
How to Get a DSCR Loan
To get a DSCR loan in 2026, follow five steps. Find an investment property that produces a Debt Service Coverage Ratio (DSCR) of 1.0 or higher, partner with a DSCR-focused lender or non-QM mortgage broker, gather your file (credit report, asset statements, current lease or market rent appraisal), submit your application, and close in as ... Read more
HELOC for Investment Property
Yes, real estate investors can get a HELOC on an investment property in 2026, but standard banks don’t offer them. This guide will reveal the new opportunities for leveraging investment and rental properties with quick funding digital HELOCs. How Real Estate Investors Are Leveraging HELOCs in 2026 The five investment property HELOC products that actually ... Read more
Credit Score for a USDA Home Loan
The dream of homeownership is a cornerstone of the American experience, yet for many, the path to securing a mortgage can be fraught with challenges, particularly when it comes to credit requirements. The United States Department of Agriculture (USDA) offers a unique opportunity through its home loan programs, designed to assist low- to moderate-income individuals ... Read more
How Do HELOC Payments Work?
HELOC payments work in two distinct phases. During the draw period, typically 5 to 10 years. Most lenders require interest-only payments on the outstanding balance. For example, a $20,000 balance at 8% means a monthly payment of roughly $133, with no principal reduction. Because home equity lines of credit carry variable rates tied to the ... Read more
Can You Buy a Duplex With an FHA Loan?
Yes, you can buy a duplex with an FHA loan in 2026. The FHA 203(b) program lets you purchase a 2-unit property with just 3.5% down at a credit score of 580 or higher, as long as you live in one of the two units as your primary residence for at least one year. Duplexes ... Read more
DSCR Home Equity Loan vs. Non-QM HELOC
When leveraging home equity, borrowers often consider Debt Service Coverage Ratio or DSCR home equity loans and Non-Qualified Mortgage or Non-QM Home Equity Lines of Credit or HELOCs. Both financing options provide liquidity using home equity but cater to different borrowers and financial situations. Understanding their differences helps investors and homeowners choose the right option. ... Read more
Best Conventional Mortgage Loans in 2026
Conventional mortgages remain the most popular home loan type in 2026, accounting for roughly 73% of single-family home purchases. They are mortgages not insured by the federal government but typically purchased by Fannie Mae or Freddie Mac. If you are shopping for a cost-effective home loan, you are probably looking for a conventional mortgage. The ... Read more
CDFI Loans
How to Apply for a CDFI Loan in California in 2026 A CDFI loan is a mortgage, business loan, or other financing product originated by a Community Development Financial Institution—a specialized lender certified by the U.S. Treasury’s CDFI Fund to serve low-income, underbanked, and historically underserved borrowers and communities. CDFI loans cover home purchase, refinance, ... Read more
No Doc Home Loans
No doc home loans in 2026 are popular mortgage programs that replace traditional W-2s, pay stubs, and tax returns with alternative income documentation or, in true no-doc cases, eliminate income documentation entirely and qualify the borrower on credit, equity, and assets. What Are No Doc Loans in 2026? A California Borrower’s Guide to Non-QM, DSCR, ... Read more
Can You Get a Home Equity Loan on a Condo?
Home equity loans are a popular way for homeowners to tap into the value of their property, but can condo owners take advantage of this financial tool as well? The answer is yes—though obtaining a home equity loan for a condo comes with unique considerations. Whether you need an equity loan on primary residence or ... Read more
