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Bill Rapp, Mortgage Originator:
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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
🏡 FHA Loans: The Complete Homebuyer’s Guide to Lower Down Payments & Flexible Qualification 🔑
🏡 FHA Loans: The Complete Homebuyer’s Guide to Lower Down Payments & Flexible Qualification 🔑
💰 FHA Loan Guide 2026: How to Buy a Home With as Little as 3.5% Down 🏠
FHA Loans: Complete Guide for Homebuyers
Buying a home can feel financially out of reach when you are worried about the down payment, credit requirements, closing costs, and monthly payment. An FHA loan can provide another path to homeownership for qualified buyers—particularly buyers who have limited savings or credit profiles that may not fit conventional mortgage guidelines.
FHA loans are mortgages made by approved lenders and insured by the Federal Housing Administration, which is part of HUD. Because FHA provides mortgage insurance protecting the lender against certain losses, lenders can offer financing under FHA guidelines that may be more flexible than some conventional programs.
For buyers considering an FHA mortgage in 2026, the important question isn't simply, "Can I qualify?" It is:
"Does an FHA loan make sense compared with the other mortgage options available to me?"
That's where working with a mortgage broker can be valuable.
What Is an FHA Loan?
An FHA loan is a government-insured mortgage designed to expand access to homeownership. FHA does not generally lend the money directly to the homebuyer. Instead, borrowers obtain financing through an FHA-approved mortgage lender, and FHA insures the loan.
One of the program's best-known features is the ability for qualifying borrowers to purchase a home with a relatively small down payment.
A borrower meeting applicable FHA requirements may be eligible for 3.5% down financing with a credit score of at least 580. FHA guidelines also provide a framework for borrowers with scores between 500 and 579 at a lower maximum loan-to-value, effectively requiring at least 10% down. Actual lender requirements can be more restrictive. HUD Archives
For example, on a $350,000 purchase, a 3.5% down payment would equal:
$350,000 × 3.5% = $12,250
That does not mean $12,250 is your entire cash requirement. Buyers also need to account for closing costs, prepaid expenses, reserves when applicable, and other transaction expenses.
Why FHA Loans Appeal to First-Time Homebuyers
FHA financing is often associated with first-time homebuyers, but you do not have to be a first-time buyer to use an FHA loan.
The program can be particularly attractive to borrowers who:
·Have limited funds available for a down payment
·Have less-than-perfect credit
·Want more flexible underwriting than a particular conventional program provides
·Receive eligible gift funds or down-payment assistance
·Want to purchase an eligible owner-occupied property
The right mortgage, however, depends on the entire financial picture rather than one feature such as the minimum down payment.
FHA Credit Score Requirements
Credit is one of the biggest areas of confusion surrounding FHA loans.
FHA program guidelines and a lender's underwriting requirements aren't necessarily identical. A lender may impose requirements beyond FHA's minimum standards.
Credit qualification also involves considerably more than your numerical credit score. Mortgage underwriting can consider your payment history, outstanding debts, collections, bankruptcies or foreclosures when applicable, income, assets, and overall risk profile.
That's why someone shouldn't automatically assume that a previous credit problem eliminates the possibility of homeownership.
FHA Down Payment Requirements
The 3.5% minimum down payment is one of FHA financing's most recognizable benefits.
Your down payment doesn't necessarily have to come exclusively from money you've personally accumulated. Depending on the circumstances and applicable FHA requirements, eligible sources can include personal savings, qualifying gifts and certain down-payment-assistance programs.
This can make FHA financing particularly useful when a buyer has sufficient income to support a mortgage but hasn't accumulated a large down payment.
FHA Mortgage Insurance
The tradeoff for FHA's high-leverage financing is mortgage insurance premium (MIP).
Most FHA single-family mortgages require an upfront mortgage insurance premium, and FHA's published premium schedule identifies UFMIP at 1.75% of the base loan amount for standard mortgages. HUD
Depending on the loan, borrowers can also have an annual MIP that is generally collected as part of the monthly mortgage payment.
This is an important reason to compare FHA and conventional financing rather than choosing a mortgage solely because FHA offers a smaller minimum down payment.
A conventional mortgage may potentially become more attractive for borrowers with strong credit, adequate cash and other qualifying characteristics.
What Properties Can You Buy With an FHA Loan?
FHA loans are designed primarily around owner-occupied housing rather than traditional investment-property financing.
Eligible properties can include certain:
Single-family homes, condominiums, manufactured homes and two-to-four-unit properties, subject to FHA and lender requirements.
The ability to finance a small multifamily property can be particularly interesting.
For example, a qualifying buyer could potentially purchase a duplex, triplex or fourplex, occupy one unit as a primary residence, and rent the remaining units, subject to applicable underwriting and FHA requirements.
That creates a potential bridge between homeownership and real estate investing.
FHA Appraisals Are Different
An FHA appraisal isn't simply about determining market value.
The property must also satisfy applicable FHA requirements. That means significant health, safety or property-condition issues can affect the transaction.
Buyers purchasing older or distressed homes should therefore understand the property's condition before assuming FHA financing will work.
There are also specialized FHA rehabilitation programs for certain situations, but those have their own requirements.
How Much Can You Borrow With an FHA Loan in 2026?
FHA loan limits vary by geographic area and property type.
For 2026, the national one-unit FHA loan-limit floor is $541,287, while the one-unit ceiling in high-cost areas is $1,249,125. Limits for two-, three- and four-unit properties are higher. HUD
Individual limits are established by county or metropolitan area, so borrowers should check the limit applying to the specific property rather than relying on a national number. HUD provides an official lookup tool for this purpose. ENTP HUD
FHA Loan vs. Conventional Loan
One of the most important steps for a homebuyer is comparing FHA financing against conventional financing.
Don't compare only the interest rate.
Instead, compare:
Down payment + interest rate + APR + mortgage insurance + closing costs + cash to close + monthly payment + long-term cost.
A borrower with limited savings or credit challenges might find FHA particularly useful. Another borrower with stronger credit and additional cash might find conventional financing more attractive.
There is no universal answer.
The appropriate structure depends on the borrower.
How Much Home Can You Actually Afford?
A mortgage pre-approval shouldn't simply answer:
"What is the maximum house price I qualify for?"
A better conversation is:
"What monthly housing payment fits comfortably into my financial plan?"
Your housing expense can include principal, interest, property taxes, homeowners insurance, mortgage insurance and, where applicable, HOA dues.
Two homes with identical $400,000 purchase prices can therefore have very different monthly ownership costs.
Property taxes, insurance premiums and HOA assessments can materially change affordability.
FHA Closing Costs
The down payment is only part of the cash needed to purchase a home.
Potential expenses can include lender charges, title and settlement expenses, appraisal fees, prepaid homeowners insurance, property-tax escrows and other transaction costs.
FHA rules also permit certain seller or interested-party contributions subject to program restrictions. Buyers should structure concessions carefully with their lender and real estate agent rather than assuming every cost can be shifted to the seller.
Get Pre-Approved Before Shopping
One of the best steps prospective FHA buyers can take is obtaining mortgage pre-approval before making offers.
A thorough pre-approval can help establish your approximate price range, estimated payment, required cash to close and potential financing structure.
It can also identify credit, income or documentation issues early enough to address them rather than discovering them after you are under contract.
Why Work With a Mortgage Broker?
A mortgage is more than an interest rate.
As a mortgage broker, Medallion Funds can help evaluate the borrower's broader financing situation and compare available mortgage strategies.
That means examining variables such as credit, income, down payment, property type, monthly-payment goals, mortgage insurance and closing costs before determining which available program appears to fit.
For some buyers, FHA financing may be an excellent solution.
For others, conventional, VA, USDA, jumbo or another mortgage structure may deserve consideration.
The objective should be to find financing that fits your circumstances—not force your circumstances into a particular loan product.
Ready to Explore Your FHA Loan Options?
If you're planning to buy a home, don't wait until you've found the property to start thinking about financing.
Start by understanding what you qualify for, what your estimated payment could be, how much cash you'll need, and which mortgage options are available to you.
Bill Rapp
Partner & Director of Capital Advisory | Medallion Funds
Commercial Lending Nationwide
Residential Lending in AL, CA, CO, NV & TXBottom of Form
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Main Office:
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[email protected]
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