ATTENTION: For Those who are serious about Getting Pre-Qualified FAST!
Bill Rapp, Mortgage Originator:
NMLS 228246
"Brokers Are Better.
Better Pricing, Better Service!"
Subscribe To My List Below To Get Your Mortgage Quote Now!
Simply enter your name and email below:
WITH PROVEN STRATEGIES & PROVEN RESULTS
HERE'S WHAT MY CLIENTS SAY:
What People Are Saying:
Excellent Service
Bill is an exceptional loan officer. He helped us to purchase our home with very personal and professional service. He helped us navigate the whole process from start to closing without any problems. We didn't think we're qualified to purchase a house, but Bill went above and beyond to find a way to help us achieve our goal. He always responded very quickly with our requests, he would come back with different options with comparison chart to clearly indicate how much we need for down payment, monthly payments, interest rates, closing costs etc.
We would highly recommend Bill to anyone in need of lending services. In fact, we have already recommended Bill to one of our friends on purchasing a house.
--- David Chan - Houston, TX
Bank Statement Lending!
William Rapp of Network Funding, L. P. was very professional and I felt comfortable in dealing with him. I will definitely recommend him to family and friends.
--- Ian F - Missouri City, TX
Professionalism - Expert In Home Style Loan
Bill is an expert in the topic, his explanations and online material make a difference and he is always there from the beginning to the end. He is committed to make thing happen.
--- Felipe Caldern & Carolina Angel Gutierrez
Great Service!
Bill Rapp's handling of our loan (even though out of state) was unparalleled to any service I have been through prior, including 3 different real estate transactions and multiple refinances. Extremely quick close, with great options and flexibility for my families needs. All around A+
--- Chris & Beth Sheehan - San Jose, CA
Knowledgeable and Responsive!
Bill was a pleasure to work with and he made the loan process fairly easy. He answered all questions I had very quickly and was straight forward in doing it. I would recommend Bill to others.
--- Wes Brady - Richmond, TX
Very professional and always returned our calls!
Bill takes a lot of pride in his job and is very dependable. They were very patient and understanding. He went out of his way and explained all my questions and concerns. They were very professional and returned my phone calls and emails. He did a great job and I fully recommend him.
--- Therese, Malcom & Shirley Teixeira - Katy, TX
Great Job!
Bill helped us out from beginning to end of loan process. The loan closed in a timely manner as Bill worked hard with bank to get our to the final steps.
--- Kamal & Theresa Wilson - Hartford, CT
Avid Problem-Solver and Absolute Pleasure to Work With!
Bill Rapp worked very hard to ensure that we closed our loan and were able to move into our new home. He always had alternatives to any problems we encountered while closing. He worked with us from the beginning identifying solutions to any problems that we were having. He was an absolute pleasure to work with!
--- Nikita Rayani & Sanit Tejani - Houston, TX
Awesome to work with!
Being a first-time buyer I came in with lots of questions and concerns. Bill was always available for any questions I had and answered everything to my satisfaction. Bill made the loan process so painless that I could still concentrate on other things. We ended up closing early which made things even better. If you are in need of a lender and want someone who is very approachable and stays on top of your loan then Bill is your guy.
--- Cesar Raya - Richmond, TX
Loan Declined by my bank, and he saved the day!
Bill, did an amazing job helping me close on my house. He took the reigns and reassured me the best route to take to help close. He was accountable, thorough and trustworthy. I will continue to work with Network Funding, L.P. when it comes to home buying in the future because of the quality of service Bill gave.
--- Jacob Smith - Boerne, TX
Bill Rapp Will Definitely Make It Happen!
Bill is the most kind, patient and helpful person I have ever known. He answers his phone calls and emails promptly. You can ask him a million questions, and he will answer each and every one of them. Before I started working with Bill, I had been turned down for a home loan, because of some past credit issues I had, plus I was a single mother. However, once I started working with Bill, he was able to quickly get me a home loan, with a good interest rate. I would recommend that you call him, as he will help you.
--- Corinne Wilson - Roselle, NJ
Knowledgeable, Honest, Trustworthy, and Reliable!
"I will definitely keep you in mind. If anyone I know needs financing, I will send them your way!"
--- Jon & Andrea Saleem, CRPC Financial Advisor - Houston, TX
Best Dam Mortgage Guy a man could know!
"Hands down the best loan experience to date!"
--- Gabe & Chelsea Jackson - Pearland, TX
Phenomenal, Hard Working and Never Quits!
Had a stupid foreclosure that could have been avoided if ex’s attny would have sent my buy out offer. So Bill was able to push this through with a 4 year foreclosure. He worked his butt off, was very diligent with his communication; and was very professional talking to me even when I was screaming and/or crying at him. Highly recommend this lender. He really go to the ends of the earth to help you!
--- Liz Keeter - Harlingen, TX
Exceptional customer service!
Bill is the most kind, patient and helpful person I have ever known. He answers his phone calls and emails promptly. You can ask him a million questions, and he will answer each and every one of them. Before I started working with Bill, I had been turned down for a home loan, because of some past credit issues I had, plus I was a single mother. However, once I started working with Bill, he was able to quickly get me a home loan, with a good interest rate. I would recommend that you call him, as he will help you.
--- Isha Lopez & Mauricio Garcia - Houston, TX
Service with a capitol S
Bill went above and beyond at every turn. He worked late on Saturday, he worked late all the time. We wanted to close ASAP and he really helped make it happen for us.
--- Jeff & Wendy Heger - Houston, TX
Best Buying Experience!
I would would highly recommend going with Network Funding LP. As a first time home buyer I didn't know what to expect. Bill Rapp was very helpful in answering all my questions and guided me through all ghe steps. I couldn't have asked for a better buying experience!
--- Tabitha Turner - Humble, TX
Would recommend him and use him again!
Very involved and professional . Kept me informed and up to date on everything that was going on Went with me closing and was very helpful and knowledgeable.
--- Kathy Ward - Houston, TX
Great experience!
Well I meet bill back in December 2016 he got recommended by my real estate agent we had a house in sight and started the process to get approved but we fail due to my work history and credit bill told me not to give up and put me in contact with a credit repair company they help me bring my score up and bill walk me thru the process of getting a new line so this time around we got approved before looking for our house after we found it we still had a couple of hick up but with bills help on Sunday 6-18-17 to be exact Father's Day bill called me to give me the great news that we had got approved and the closing date was as scheduled bill was more than just a lender to my family he became a friend and I'm alway going to have him in mind for any other financial situation.
--- Alejandres Felimon - Richmond, TX
I really liked his attitude!
I wouldn't usually say this but the way he had handled my mortgage was really pleasant. I personally enjoyed the time spent with him while we discussed feasible rates. He's a great man with a great personality and he offered really low interests as well. Definitely recommend him to others.
--- Tom Troiano - Atlantic City, NJ
He's nothing short of a miracle!
I'm a self-employed businessman and had him figure out the mortgage of the house after 30% down payment. The interest rates I received were incredibly low given what I had thought of earlier. One other important thing to note was that I hadn't really taken any loans earlier, so I had no credit history. He helped me out with all that as well so I can't really call him anything else but a miracle.
--- Fran Suarez - Cleveland, OH
He's really helpful!
I made a bid to him and the very same day he gave me an offer which I couldn't resist. It was too intimidating with those incredibly low interest rates and all, thoroughly recommend him.
--- Kenny Mickle - Houston, TX
Expeditious!
Bill was very expeditious and made it real easy going through the loan process. I felt he was on top of things.
I deal with investment properties and will more than likely call on him again.
--- Wayne King - Pensacola, FL
Bill was great!
Bill made us feel like a friend all the way thru the process. He was patient and explained everything he needed clearly. He was available ANYTIME we had questions or needed more information. Hopefully we won’t go thru this process again anytime soon, but if we do - we’d choose Bill! =)
--- Barbra & Nick Grimmer - Austin, TX
Great broker!
Bill was a great broker to work with. As first time home buyers we had many questions about the process, Bill took the time to help us even calling us back on weekends with answers. I would not hesitate to recommend him to anyone looking for a broker to work with.
--- Murray & Lisa Turner - Pensacola, FL
Outstanding service!
I couldn't have been more pleased with Bill's level of service. He made what is typically a lengthy, arduous process far quicker and easier at every turn. I'm extremely comfortable recommending Bill to friends and family, and will definitely utilize his services again!
--- Jim Lipari - Austin, TX
Jumbo and Non-QM Mortgages: Made Simple
Getting a jumbo or Non-QM mortgage is easier than most people expect. This guide explains what these loans are, who they’re for, and when they make sense.
What Is a Jumbo or Non-QM Loan?
A jumbo mortgage—also called a non-conforming loan—is any mortgage that does not meet the guidelines set by Fannie Mae and Freddie Mac.
Fannie Mae and Freddie Mac were created by Congress to provide liquidity and stability in the mortgage market. They buy mortgages from lenders, but only if those loans meet strict rules for:
Loan amount
Credit score
Down payment
Debt-to-income ratio
Post-closing reserves
Loans that exceed these limits are considered non-conforming.
When Do You Need a Jumbo Loan?
You’ll need a jumbo loan when the loan amount exceeds the conforming limit in your area.
How Jumbo and Non-QM Loans Are Underwritten
Jumbo loans are evaluated using the same fundamentals as conventional loans:
Credit score
Down payment
Debt-to-income ratio (DTI)
Cash reserves after closing
That said, jumbo loans often allow more flexibility in how those factors are evaluated.
Credit Scores
Most jumbo programs are available with credit scores as low as 660, though higher scores receive better rates. Borrowers with 760+ credit generally receive the most favorable terms.
Cash Reserves
Jumbo loans usually require more reserves than conforming loans.
Typical requirement: 12 months of reserves
Often split between liquid cash and retirement assets
Exceptions may be available with strong income, low DTI, or large down payments.
Where Jumbo Loans Are More Flexible
Higher DTI allowances
While conforming loans often cap DTI around 43%, jumbo loans may allow higher ratios if the borrower has strong reserves or equity.
More logical income analysis
Self-employed borrowers may qualify with one year of tax returns instead of two if they can document business stability and industry experience.
Lower down payments without mortgage insurance
Some jumbo programs allow 10% down—and sometimes less—without mortgage insurance. Rates may be slightly higher, and DTI requirements are typically stricter.
Piggyback loan structures
In certain cases, buyers can combine a first and second mortgage to reduce the down payment to as little as 5%. These structures are highly specialized and lender-specific.
Who Typically Uses Jumbo or Non-QM Loans?
These loans are well-suited for high-income earners who don’t want—or don’t have—their wealth tied up in cash. This group is often referred to as HENRYs: High Earners, Not Rich Yet.
HENRY borrowers often:
Earn $250,000–$500,000+ annually
Have strong credit histories
Hold significant retirement and investment assets
Prefer liquidity over tying up cash in a large down payment
Tax Considerations
Jumbo loans don’t automatically create tax advantages.
Mortgage interest is only deductible on the first $1 million of mortgage debt. If your loan exceeds that amount, the interest on the excess is not deductible.
For this reason, some borrowers choose to compare:
One jumbo loan
vs.
Two smaller loans or alternative structures
Always consult a tax professional before assuming tax benefits.
Choosing the Right Professionals
Buying a home—especially with a jumbo or Non-QM loan—is complex. You should always work with professionals who represent your interests, not just the transaction.
Real Estate Representation
Seller’s agents represent the seller
Buyer’s agents represent the buyer
Transaction brokers represent no one
As a buyer, it’s almost always best to work with a buyer’s agent who has a legal duty to protect your interests.
Mortgage Broker vs. Bank
A mortgage broker typically has access to many lenders, not just one bank’s in-house programs. This often results in:
Better pricing
More flexible loan options
Specialized programs banks may not offer
Even if you like your bank, remember: most banks sell loans shortly after closing anyway. Loyalty should never cost you better terms.
Foreign National Mortgages
You do not need to be a U.S. citizen to qualify for a mortgage.
Eligible Borrowers
Permanent residents (green card holders)
Non-permanent residents with valid work authorization
Refugees or individuals granted asylum
Non-resident foreign buyers may also qualify, but usually with:
Higher down payments (30–50%)
Higher interest rates
Fewer program options
Legal residency and proper documentation are mandatory.
Bank Statement Loans for Self-Employed Borrowers
If you’re self-employed and traditional tax returns don’t reflect your true income, a bank statement mortgage may be the solution.
How They Work
Instead of W-2s or tax returns, lenders use 12–24 months of bank statements to calculate income based on actual deposits.
Ideal For:
Business owners
Independent contractors
Freelancers and gig workers
Borrowers with significant tax write-offs
Trade-Offs
Because these loans are considered Non-QM:
Rates are typically higher
Down payments may be larger
Terms vary widely by lender, so shopping matters.
Final Thought
If you’ve been told “no” by a bank or lender, it doesn’t mean you can’t qualify—it often means you’re speaking with the wrong person.
In real estate and lending, who you work with matters.
Questions About Jumbo, Non-QM, or Bank Statement Loans?
Schedule a free, no-obligation consultation with a mortgage expert who knows how to structure complex deals efficiently.
Contact the Mortgage Viking
📞 281-222-0433
🏦 Bank Statement Loans in Texas: How Self-Employed Borrowers Can Qualify Without Traditional Income Documentation 🏠
🏦 Bank Statement Loans in Texas: How Self-Employed Borrowers Can Qualify Without Traditional Income Documentation 🏠
🤠 Self-Employed in Texas? How Bank Statement Mortgage Loans Can Turn Your Deposits Into Buying Power 💰
Bank Statement Loans for Texas Self-Employed Borrowers
Being self-employed can be great for building a business—and frustrating when it's time to qualify for a mortgage.
Business owners, independent contractors, consultants, real estate professionals, freelancers, and other self-employed borrowers often take legitimate business deductions that reduce taxable income. That's good tax planning, but it can create a problem when a traditional mortgage lender relies heavily on tax returns to determine qualifying income.
A bank statement loan may provide another path.
Instead of relying primarily on the taxable income shown on your tax returns, certain Non-QM mortgage programs allow eligible self-employed borrowers to document income using deposits shown on personal or business bank statements.
For Texas entrepreneurs with strong cash flow but complicated tax returns, that can make a major difference.
What Is a Bank Statement Loan?
A bank statement loan is an alternative-documentation mortgage designed primarily for self-employed borrowers.
Depending on the lender and program, the borrower may provide 12 or 24 months of personal or business bank statements. The lender analyzes eligible deposits and uses an established methodology to determine qualifying monthly income.
This can be particularly useful when a borrower's tax returns don't tell the full story of the business's cash flow.
Bank statement programs are generally considered Non-QM mortgages, meaning their underwriting doesn't follow the same standardized Qualified Mortgage framework as many traditional loan programs.
That doesn't mean underwriting disappears.
The lender still evaluates factors such as:
·Credit history
·Assets and reserves
·Debt obligations
·Loan-to-value ratio
·Property and occupancy type
·Self-employment history
·Deposit consistency
·Business expenses
·Ability to repay
The difference is primarily how income is documented and calculated.
Why Self-Employed Borrowers Can Struggle With Traditional Mortgages
Consider a Texas small-business owner whose company generates substantial gross revenue.
The business may legitimately deduct expenses for vehicles, equipment, marketing, insurance, office expenses, professional services, travel, depreciation, and other costs.
After those expenses and deductions, taxable income may be considerably lower than the cash flow the owner experiences throughout the year.
Traditional underwriting may therefore calculate significantly less qualifying income than the borrower expected.
This is where alternative-documentation programs can become valuable.
Instead of asking only:
"What does the tax return show?"
A bank statement program can analyze:
"What level of qualifying income is supported by the borrower's actual deposits?"
How Do Bank Statement Loans Calculate Income?
The exact calculation depends on the lender.
For personal bank statements, eligible recurring deposits may be analyzed to determine an average monthly qualifying income.
For business bank statements, the process can be more complicated because gross business deposits aren't the same as personal income.
A lender may apply an expense factor to account for the cost of operating the business.
For example, suppose a business has:
$30,000 in average monthly eligible deposits.
If a particular lender determines that 50% represents qualifying income after its applicable expense calculation, that could result in:
$15,000 per month of qualifying income.
That is only an illustration. Actual expense factors and eligible-deposit calculations vary significantly by lender, business type, documentation, and loan program.
Some programs may permit an alternative expense factor when documentation supports the actual operating expenses of the business.
This is one reason lender selection can matter enormously with a bank statement mortgage.
12-Month vs. 24-Month Bank Statement Loans
Many bank statement mortgage programs analyze either 12 months or 24 months of statements.
A 12-month program may be attractive to a business owner whose recent cash flow has improved substantially.
A 24-month analysis can provide a longer operating history and may smooth seasonal fluctuations.
Neither is automatically better.
The better option depends on the pattern of your deposits, credit profile, loan amount, available down payment, reserves, property type, and the specific guidelines offered by the lender.
Personal vs. Business Bank Statements
Another important decision is whether to qualify using personal bank statements, business bank statements, or an eligible combination permitted by the program.
For some sole proprietors and independent contractors, personal deposits may provide the cleanest picture.
For established business owners operating through an LLC, S corporation, partnership, or other entity, business statements may make more sense.
The key is analyzing the documentation before selecting the loan program.
At Medallion Funds, that's an important part of our approach. Rather than trying to force every self-employed borrower into the same underwriting box, we can evaluate the borrower's income structure and compare available financing strategies.
Who Should Consider a Bank Statement Mortgage?
Bank statement loans may be worth exploring for:
·Small-business owners
·Entrepreneurs
·Independent contractors
·Consultants
·Freelancers
·Real estate agents
·Commission-based professionals
·1099 earners
·Gig-economy workers
·Owners of LLCs and S corporations
·Self-employed professionals
The common denominator isn't the profession.
It's having documentable cash flow that may not be fully reflected by the taxable income used in traditional mortgage underwriting.
Do Bank Statement Loans Require a Down Payment?
Yes.
Bank statement loans are not zero-documentation mortgages, and they don't eliminate normal credit and risk requirements.
Required equity or down payment varies by lender and can depend on factors including credit score, property type, occupancy, loan size, reserves, and overall borrower strength.
Some programs in today's Non-QM market advertise financing up to approximately 90% LTV for particularly strong scenarios, but borrowers should not assume they will automatically qualify for maximum leverage.
Your actual terms need to be determined from your complete scenario.
Are Bank Statement Mortgage Rates Higher?
Bank statement loans often carry different pricing than conventional mortgages because the lender is using an alternative method of documenting income.
But rate shouldn't be evaluated in isolation.
A conventional mortgage with a lower advertised interest rate isn't particularly useful if the underwriting methodology prevents you from qualifying for the loan you need.
The appropriate comparison is:
What loan can I actually qualify for, what will it cost, and how does it fit my financial objectives?
What Do Underwriters Look for in Your Bank Statements?
Consistency matters.
An underwriter may review statements for recurring deposits, transfers between accounts, unusual or large deposits, declining revenue, overdrafts, insufficient-funds activity, and other patterns requiring explanation.
If you're planning to purchase or refinance, organizing your banking before applying can make the underwriting process easier.
Avoid assuming that every dollar entering an account will automatically count as income.
Transfers between your own accounts, borrowed money, one-time deposits, and other non-income transactions generally need to be identified appropriately.
Bank Statement Loans vs. Conventional Mortgages
A bank statement mortgage isn't automatically better than a conventional mortgage.
If your tax returns document enough income to qualify conventionally, traditional financing may provide more attractive pricing or terms.
But if traditional underwriting substantially understates your financial capacity because you're self-employed, a bank statement loan can be worth evaluating.
This is where working with a mortgage broker with access to multiple lenders and Non-QM programs can be particularly useful.
Different lenders can calculate the exact same self-employed borrower differently.
One lender's underwriting methodology may produce a substantially different qualifying-income figure than another lender's methodology.
Buying a Home in Texas When You're Self-Employed
Texas has thousands of entrepreneurs, contractors, professional-service providers, real estate professionals, doctors, dentists, business owners, and other borrowers whose finances don't fit neatly into a W-2 underwriting model.
Being self-employed shouldn't mean assuming that homeownership is out of reach simply because one lender couldn't make the numbers work.
The better first question is:
Which income-documentation method best represents your financial situation?
That might be conventional financing.
It might be a bank statement mortgage.
Or another Non-QM strategy may fit better.
Talk With Medallion Funds Before You Start Shopping
If you're self-employed and considering buying or refinancing a home in Texas, consider reviewing your financing options before you begin seriously shopping for property.
At Medallion Funds, we can evaluate your scenario, review available mortgage programs, and determine whether a bank statement loan or another financing strategy may provide a better fit.
The goal isn't simply to find a loan.
It's to find the right underwriting strategy for the way you actually earn your income.
Bill Rapp
Partner & Director of Capital Advisory | Medallion Funds
Commercial Lending Nationwide
Residential Lending in AL, CA, CO, NV & TXBottom of Form
https://www.billrapponline.com/
https://findamortgagebroker.com/Profile/WilliamRappJr28883
https://billrapp.commloan.com/
https://billrapponline.com/financingfuturescre-houston-katy
https://houstoncommercialmortgage.com/
https://author.billrapponline.com
https://doctorvideo.billrapponline.com/
https://veteransvideo.billrapponline.com/
https://mortgageviking.billrapponline.com/
https://fha203h.billrapponline.com/
https://renovationvideo.billrapponline.com
https://medallionfunds.com/bill-rapp/
https://www.amazon.com/dp/B0F32Z5BH2
https://veed.cello.so/FOmzTty6oi9
https://buymeacoffee.com/vikingente3
https://creplaybookseries.billrapponline.com
https://creplaybook.billrapponline.com/
© Bill Rapp, Medallion Funds LLC, Director of Capital Advisory
Main Office:
Medallion Funds
[email protected]
11920 Southern Highlands PKWY Suite 302Las Vegas, NV 89141
Texas Complaint and Recovery Fund Notice
