ATTENTION: For Those who are serious about Getting Pre-Qualified FAST!
Bill Rapp, Mortgage Originator:
NMLS 228246
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Better Pricing, Better Service!"
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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.
ο»Ώ--- 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.
ο»Ώ--- 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.
ο»Ώ--- 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.
ο»Ώ--- 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 exβs 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 wonβt go thru this process again anytime soon, but if we do - weβd 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 theyβre for, and when they make sense.
What Is a Jumbo or Non-QM Loan?
A jumbo mortgageβalso called a non-conforming loanβis 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?
Youβll 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% downβand sometimes lessβwithout 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 donβt wantβor donβt haveβtheir wealth tied up in cash. This group is often referred to as HENRYs: High Earners, Not Rich Yet.
HENRY borrowers often:
Earn $250,000β$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 donβt 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 homeβespecially with a jumbo or Non-QM loanβis complex. You should always work with professionals who represent your interests, not just the transaction.
Real Estate Representation
Sellerβs agents represent the seller
Buyerβs agents represent the buyer
Transaction brokers represent no one
As a buyer, itβs almost always best to work with a buyerβs 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 bankβs 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 (30β50%)
Higher interest rates
Fewer program options
Legal residency and proper documentation are mandatory.
Bank Statement Loans for Self-Employed Borrowers
If youβre self-employed and traditional tax returns donβt reflect your true income, a bank statement mortgage may be the solution.
How They Work
Instead of W-2s or tax returns, lenders use 12β24 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 youβve been told βnoβ by a bank or lender, it doesnβt mean you canβt qualifyβit often means youβre 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
π 281-222-0433
π’π° Why Every Commercial Real Estate Broker Should Understand Financing ππ
π’π° Why Every Commercial Real Estate Broker Should Understand Financing ππ
π Commercial Real Estate Financing: The Knowledge That Helps Brokers Close More Deals π€π’
Why Every Commercial Broker Should Understand Financing
Commercial real estate brokers are typically trained to understand properties, markets, leases, negotiations, and transactions. But there is another skill that can dramatically improve a brokerβs ability to serve clients and move deals toward closing:
Understanding commercial real estate financing.
You do not have to become a commercial mortgage broker or underwriter. However, if you represent investors, developers, or business owners, understanding how lenders evaluate commercial real estate can make you a substantially more effective advisor.
Because finding the right property is only part of the transaction.
The buyer still has to finance it.
Financing Can Determine Whether the Deal Works
A property may look attractive based on its asking price, location, cap rate, or upside potential. But the economics can change once financing enters the equation.
Interest rate, leverage, amortization, debt-service coverage requirements, recourse, reserves, prepayment provisions, and lender fees can all affect the investor's return and cash requirement.
For example, imagine an investor finds an acquisition that appears to produce an attractive cash-on-cash return.
If the lender will only provide 65% leverage instead of the 75% the investor expected, the buyer suddenly needs considerably more equity.
Or perhaps the property generates enough NOI to justify the purchase price, but not enough to satisfy the lender's required debt service coverage ratio (DSCR) at current interest rates.
The property may still be a good investment. The original capital structure simply may not work.
A commercial broker who understands these dynamics can identify potential problems much earlier.
Understanding DSCR Makes You a Better Broker
One of the most important commercial lending concepts for brokers to understand is DSCR.
The basic calculation is:
DSCR = Net Operating Income Γ· Annual Debt Service
If a property generates $150,000 of NOI and annual principal and interest payments are $120,000, its DSCR is:
$150,000 Γ· $120,000 = 1.25x
Lenders use DSCR to evaluate whether the property's cash flow provides sufficient coverage for its proposed debt.
This is important because commercial loan proceeds are not always determined solely by loan-to-value.
A buyer may request a 75% LTV loan, but the property's cash flow might only support 68% leverage.
Understanding this distinction allows commercial brokers to have more informed conversations about pricing, financing, and buyer qualifications.
Interest Rates Affect More Than the Monthly Payment
When rates rise, most people immediately think about higher payments.
For commercial real estate investors, however, the implications can go considerably further.
Higher rates can increase debt service, reduce DSCR, decrease maximum loan proceeds, increase required equity, reduce cash-on-cash returns, and potentially affect property values.
That means interest rates can directly influence transaction feasibility.
Commercial brokers who understand this relationship can better explain why a buyer's financing assumptions may change even when the property itself has not.
Know the Major Commercial Loan Options
Commercial brokers should also understand that commercial real estate financing is not a single product.
Depending on the borrower, property, and business plan, financing could potentially come from conventional banks and credit unions, SBA programs, agency lenders, CMBS lenders, debt funds, bridge lenders, life insurance companies, private lenders, or other specialized capital sources.
Different lenders have different appetites.
A loan structure appropriate for a stabilized multifamily property may be completely different from the financing required for a value-add retail center, hotel, owner-occupied office building, self-storage facility, or ground-up development.
This is why a rejection from one lender does not necessarily mean a transaction is unfinanceable.
It may simply mean the transaction was presented to the wrong capital source.
Financing Knowledge Helps Brokers Qualify Buyers
One of the most frustrating situations for a listing broker is discovering late in the transaction that a buyer cannot obtain the financing needed to close.
A broker with basic financing knowledge can ask better questions early in the process.
How much equity does the buyer have?
What leverage are they expecting?
Does the property's NOI support the anticipated debt?
Does the buyer have sufficient liquidity?
Is this an owner-occupied transaction?
Does the property require significant improvements?
Does the buyer have experience with this property type?
Has the buyer already spoken with a lender or commercial mortgage professional?
These questions are not designed to replace lender underwriting.
They help identify financing obstacles before everyone has invested weeks or months into a transaction.
Financing Knowledge Can Strengthen Your Listing Presentation
Financing expertise is also valuable when competing for listings.
Imagine two brokers pitching the same property.
One discusses marketing, photography, online exposure, comparable sales, and pricing.
The other discusses all of those things plus the probable financing universe for prospective buyers.
That broker can potentially explain likely leverage, lender appetite, DSCR constraints, buyer equity requirements, and financing strategies.
That is a different level of conversation.
You are no longer simply explaining how you will market the property.
You are explaining how you intend to help get it sold.
Better Financing Knowledge Can Produce Better LOIs
Financing can also affect negotiations.
Consider a buyer offering an aggressive purchase price but requesting a lengthy financing contingency.
Another buyer offers slightly less but has substantial liquidity, lender feedback, and a realistic financing structure.
Which offer is actually stronger?
The answer may not be the highest number.
Understanding financing helps brokers evaluate the probability of executionβnot merely the proposed price.
Financing Knowledge Helps Brokers Protect Their Pipeline
Every commercial real estate transaction requires substantial time.
Brokers may spend months prospecting, underwriting, touring properties, negotiating LOIs, reviewing due diligence, coordinating attorneys, and managing transaction details.
If the financing fails shortly before closing, much of that work may produce no commission.
Identifying financing risks earlier can therefore help protect a broker's transaction pipeline.
It can also create opportunities to restructure deals.
Maybe the buyer needs additional equity.
Maybe seller financing can bridge a gap.
Maybe an SBA structure makes more sense for an owner-user.
Maybe the transaction needs bridge financing before permanent financing.
Maybe a different lender category is appropriate.
The earlier these issues are identified, the more options everyone has.
You Don't Need to Become the Lender
There is an important distinction.
Commercial brokers do not need to provide financing advice outside their expertise.
Instead, they should understand enough about commercial lending to recognize potential problems and know when to bring financing professionals into the transaction.
Think of financing knowledge as another component of transaction literacy.
You understand leases.
You understand NOI.
You understand cap rates.
You understand due diligence.
You understand negotiations.
Financing belongs on that list.
The Broker of the Future Understands Both Sides of the Transaction
Commercial real estate is increasingly competitive.
Property information is easier to obtain. Investors have more technology. Online marketplaces provide enormous amounts of data.
That makes expertise increasingly important.
Brokers who understand the intersection between commercial real estate and capital markets can provide a level of insight that property data alone cannot.
They can help clients evaluate not simply:
"Is this a good property?"
But also:
"Can we finance it effectively, and does the investment still make sense after considering the debt?"
That is a much more valuable conversation.
Final Takeaway
Commercial brokers do not need to become commercial lenders.
But every serious commercial real estate professional should understand the fundamentals of commercial real estate financing, DSCR, LTV, debt service, lender underwriting, leverage, and capital structure.
Because ultimately, a signed contract is not the finish line.
The closing table is.
And understanding financing can help you get more transactions there.
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Bill Rapp, CCIM
Director | CommLoan
π 281-222-0433
π§ [email protected]
π https://billrapp.commloan.com/
π https://HoustonCommercialMortgage.com/
Commercial Real Estate Financing Nationwide
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Β©Bill Rapp, CCIM - Director - CommLoan
Main Office:
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