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Bill Rapp, Mortgage Originator:
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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
🏙️ Houston Commercial Real Estate Lending Outlook: What Investors Should Watch in September 2026 📈
🏙️ Houston Commercial Real Estate Lending Outlook: What Investors Should Watch in September 2026 📈
💰 Houston CRE Financing Update: Rates, Lender Appetite & Opportunities for Commercial Property Investors 🏢
________________________________________________________________________________
Houston commercial real estate enters September 2026 with an interesting combination of strong property-level fundamentals, selective lender appetite, continued interest-rate sensitivity, and improving confidence in commercial real estate capital markets.
For investors and business owners, that creates an important distinction: capital is available, but lenders are increasingly focused on whether the individual transaction makes sense.
The strongest borrowers are not simply asking, “What is the interest rate?” They are evaluating debt service coverage, leverage, amortization, recourse, prepayment structure, property performance and the durability of the property's cash flow.
Here is what Houston commercial real estate borrowers should be watching this month.
Houston CRE Fundamentals Remain Uneven—but Generally Constructive
Houston's commercial real estate market is not moving uniformly across every property type.
Industrial remains one of the stronger sectors. Colliers reported 7.6 million square feet of industrial net absorption during Q2 2026, a four-year quarterly high, while overall vacancy declined to 7.2%. CBRE similarly characterized Houston industrial fundamentals as extremely healthy at midyear, supported by distribution and manufacturing demand.
That matters to lenders. Strong tenant demand, occupancy and market liquidity can help support underwriting assumptions for well-located industrial acquisitions and refinances.
Retail presents a more nuanced picture. Houston retail vacancy remained relatively tight at 5.8% in Q2, while average asking rents reached $21.43 per square foot, up 5.9% year over year. However, the market also recorded negative quarterly absorption of 241,260 square feet.
For retail borrowers, lenders are likely to dig deeper into the rent roll. Tenant credit, lease expirations, rollover concentration, occupancy costs and the quality of the center can matter just as much as the headline occupancy rate.
Multifamily Demand Is Improving
Houston multifamily produced 7,008 units of net absorption during Q2 2026, approximately 15.5% above the five-year Q2 average. At the same time, the number of units under construction declined 29.3% year over year.
Those trends are constructive, but financing still depends heavily on the individual property's numbers.
For highly leveraged multifamily deals, lenders will continue looking closely at:
·Current and trailing NOI
·Rent collections and concessions
·Occupancy trends
·Property taxes and insurance
·Replacement reserves
·Deferred maintenance
·Debt service coverage ratio
·Borrower liquidity
·Exit assumptions for bridge transactions
A property can have an attractive long-term investment thesis and still fail today's lender underwriting.
Office Financing Remains Highly Property-Specific
Houston office provides perhaps the clearest example of why borrowers should avoid treating commercial real estate as one homogeneous market.
Houston recorded positive office absorption during Q2, but the flight-to-quality continues, with Class A properties representing more than 60% of leasing activity.
That bifurcation can translate directly into lender appetite.
A newer or renovated office property with strong tenancy, meaningful lease term and a competitive location may receive a substantially different financing response than an older commodity office property facing near-term rollover and capital expenditure requirements.
The question is no longer simply, “Will lenders finance office?”
The better question is:
“Which lenders will finance this particular office property, with this rent roll, this sponsorship and this business plan?”
Interest Rates Still Matter—but DSCR May Matter More
The Federal Reserve's next scheduled FOMC meeting is September 15–16, making interest-rate expectations another important variable for borrowers this month.
But borrowers should avoid focusing exclusively on the coupon.
Suppose an investor wants a $2 million commercial mortgage. Even a relatively modest change in interest rate can materially affect annual debt service.
Higher debt service means the property must generate more NOI to satisfy the lender's minimum debt service coverage ratio (DSCR).
For example:
DSCR = Net Operating Income ÷ Annual Debt Service
If annual debt service is $150,000 and the lender requires a 1.25x DSCR, the property generally needs at least:
$150,000 × 1.25 = $187,500 of qualifying NOI
This is why a deal can look profitable from an investor's perspective but still fail lender underwriting.
Lender Appetite Is Broader Than “The Bank”
One of the biggest mistakes commercial real estate borrowers make is assuming every transaction should be structured through the same lending channel.
Depending on the property, borrower and transaction, financing could potentially come from a bank or credit union, SBA lender, agency lender, bridge lender, debt fund, CMBS lender, insurance company or other specialty capital source.
The right financing structure depends on the transaction.
An owner-user purchasing a building for an operating business may have very different options from an investor acquiring a stabilized NNN property.
Likewise, a value-add multifamily acquisition should not necessarily be financed the same way as a fully stabilized apartment property.
This is where commercial mortgage brokerage and lender comparison become particularly valuable.
National Capital-Market Confidence Is Improving
There are also constructive signals beyond Houston. Colliers' Q2 U.S. capital-markets review reported that confidence continued to build as investors became more willing to transact despite ongoing interest-rate volatility. Industrial values improved, multifamily supply pressure began easing, and investors continued favoring necessity-oriented retail assets with durable cash flow.
For Houston investors, that does not mean underwriting standards disappear.
It means good transactions can have a stronger opportunity to attract capital—particularly when the borrower can clearly demonstrate sustainable NOI, appropriate leverage, sufficient liquidity and a credible business plan.
What Houston Borrowers Should Do Before Making an Offer
The most important financing decision may happen before the purchase contract is signed.
Investors should estimate realistic NOI, calculate debt service at multiple interest-rate scenarios, test DSCR, evaluate likely lender LTV constraints, estimate cash requirements and identify potential financing channels.
Owner-users should also compare conventional commercial loans with SBA and other applicable structures rather than assuming the lowest advertised interest rate represents the best transaction.
The September 2026 Houston Lending Outlook
My outlook for Houston commercial real estate lending this month is selectively constructive.
Houston's industrial fundamentals remain strong, multifamily demand has improved, retail vacancy remains relatively tight, and higher-quality office properties continue to outperform weaker assets. Meanwhile, national CRE capital-market confidence has been rebuilding.
But lenders are still underwriting the details.
NOI matters. DSCR matters. Liquidity matters. Tenant quality matters. Sponsorship matters. And loan structure matters.
The opportunity for investors is not simply finding the lender advertising the lowest rate.
It is finding the financing structure that fits the property, borrower and investment strategy.
Before making your next Houston commercial real estate offer, underwrite the debt—not just the property.
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Bill Rapp, CCIM
Director | CommLoan
📞 281-222-0433
📧 [email protected]
🌐 https://billrapp.commloan.com/
🌐 https://HoustonCommercialMortgage.com/
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