• va

    We've been proudly serving those who serve us for years. VA loans are our specialty, and we excel in providing a range of VA loan options to meet your needs. Whether you're looking for a simple VA purchase, which we can close in an average of 8-11 days, a VA construction loan to build your dream home, or an IRRRL streamline refinance to significantly drop your rate, we do it better than anyone. Our expertise and dedication ensure that you receive the best possible service and financing options tailored specifically for veterans and active-duty military members.

  • FHA

    An FHA loan is a mortgage insured by the Federal Housing Administration (FHA), designed to help low-to-moderate income borrowers who may not qualify for conventional loans. These loans require lower minimum down payments and credit scores compared to many conventional loans. FHA loans are particularly popular among first-time homebuyers, offering more flexible qualification requirements.

  • usda

    A USDA loan is a mortgage backed by the United States Department of Agriculture, designed to help low- to moderate-income buyers purchase homes in eligible rural and suburban areas. These loans offer benefits such as no down payment, competitive interest rates, and reduced mortgage insurance costs. USDA loans aim to promote homeownership and improve the economy and quality of life in rural communities.

  • conventional

    A popular type of mortgage not insured or guaranteed by any government agency, such as the FHA, VA, or USDA. Traditionally, these loans have required higher FICO credit scores and larger down payments. However, at Mortgage Beast, we provide options for borrowers with FICO scores as low as 600 and even offer 0% down payment options. Our conventional loans can provide more flexibility with fewer restrictions, tailored to meet your unique financial needs. Whether you're looking for a conforming loan that meets Fannie Mae and Freddie Mac guidelines or a non-conforming loan, we have you covered.

  • jumbo

    A jumbo loan is a type of mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac, which typically cap at $766,550 (2024) in most areas for single-family homes. At Mortgage Beast, we specialize in providing jumbo loans for high-value properties, offering financing solutions for amounts that surpass these conventional limits. Our jumbo loans come with highly competitive rates that blow banks out of the water, ensuring you get the best deal for your luxury home purchase or high-value property refinance. With our exceptional service and expertise, we make securing a jumbo loan straightforward and advantageous for our clients.

  • rehab loans

    Rehab loans, also known as renovation loans or rehab mortgages, are designed to finance both the purchase of a home and the cost of renovations or repairs in one convenient loan. These loans are particularly useful for buyers interested in purchasing distressed properties or homes in need of significant upgrades. At Mortgage Beast, we offer various types of rehab loans, including FHA 203(k) loans, Fannie Mae HomeStyle Renovation loans, and VA renovation loans, tailored to meet the specific needs of our clients. Whether you're looking to revitalize a fixer-upper or customize your existing home to better suit your lifestyle, our rehab loan options provide the flexibility and financing you need to achieve your renovation goals. See Hard Money for investment property rehab loans.

  • NO INCOME / NO RATIO

    A type of mortgage that does not require the borrower to disclose income or debt-to-income ratio details. These loans are designed for high FICO borrowers who can make a down payment of 20% or more but might not qualify for traditional loans due to complicated income situations or higher debt balances. While they typically come with higher interest rates, no income, no ratio loans offer a valuable option for those with strong credit profiles who need a more flexible approach to mortgage qualification.

  • ONE TIME CLOSE CONSTRUCTION

    A one-time close construction loan allows you to combine the costs of purchasing land and constructing your home into a single loan with one closing process. This streamlined approach simplifies financing for your new home by eliminating the need for separate loans and closings for land acquisition and construction. At Mortgage Beast, we offer one-time close construction loans not only for conventional loans but also for VA, FHA, and USDA loans. This means you can take advantage of low-down payment options, including 3.5% down for FHA loans and even 0% down for VA and USDA loans. This flexible financing solution helps make building your dream home more accessible and convenient.

  • BANK STATEMENT ONLY

    Bank statement loans are a type of mortgage that allows self-employed borrowers to qualify based on their bank statements rather than traditional income documentation such as tax returns or pay stubs. At Mortgage Beast, we understand that self-employed individuals may have fluctuating income or unique financial circumstances that make it challenging to qualify for conventional loans. Our bank statement loan programs enable self-employed borrowers to provide bank statements to demonstrate their income and ability to repay the mortgage, making homeownership more accessible and flexible for entrepreneurs and business owners. With our expertise in bank statement loans, we help self-employed borrowers navigate the mortgage process with confidence and ease.

  • 1099 ONLY

    A "1099-only" loan is specifically crafted for individuals who earn income as independent contractors and receive IRS Form 1099 instead of W-2s for tax reporting. This category encompasses various self-employed professionals, including freelancers, consultants, gig workers, and small business owners. These individuals often face challenges in qualifying for traditional mortgages due to their fluctuating income or lack of conventional employment documentation. At Mortgage Beast, we specialize in providing 1099-only loans, offering tailored solutions to accommodate the unique financial circumstances of self-employed borrowers. Whether you're a freelance writer, graphic designer, ride-share driver, or any other independent contractor, our 1099 loan programs are designed to empower you on your path to homeownership.

  • WVOE ONLY (Employer written verification of employment)

    A "WVOE-only" loan is a type of mortgage where income verification is based solely on a written verification of employment (WVOE) from the borrower's employer. This means that instead of providing detailed income documentation such as pay stubs or tax returns, borrowers only need to submit a WVOE confirming their employment status, position, and income. WVOE-only loans are typically designed for borrowers with stable employment and income but may have difficulty providing other forms of documentation. At Mortgage Beast, we offer WVOE-only loan programs to provide flexible financing options for borrowers who may not qualify for traditional mortgages due to their unique employment situations. Whether you're a salaried employee, hourly worker, or commission-based earner, our WVOE-only loans can streamline the mortgage process and make homeownership more accessible.

  • UNIQUE DWELLING TYPE

    A unique dwelling loan is a specialized mortgage product designed for unconventional or non-traditional properties, such as barndominiums, tiny homes, geodesic domes, or other alternative dwellings. These properties may not conform to typical residential structures or may have unique features that make them challenging to finance with standard mortgage products. At Mortgage Beast, we understand that traditional mortgages may not always accommodate the financing needs of buyers interested in unique dwellings. That's why we offer unique dwelling loans tailored to these specific property types. Whether you're purchasing a barndominium, a converted warehouse, an Earthship, or any other non-traditional home, our unique dwelling loan programs provide flexible financing options to help you achieve your homeownership goals. With our expertise in unconventional properties and alternative dwellings, we can guide you through the mortgage process and help you secure the financing you need for your unique home. Whether you're looking for a primary residence, vacation home, or investment property, Mortgage Beast is here to help you navigate the complexities of financing unique dwellings with confidence and ease.

  • HARD MONEY

    Hard money loans are short-term, asset-based loans secured by real estate. They are typically provided by private investors or companies rather than traditional lenders like banks or credit unions. Hard money loans are often used by real estate investors or individuals who need quick financing and may not qualify for traditional loans due to factors such as poor credit history, incomplete documentation, or the need for a fast closing. At Mortgage Beast, we offer hard money loan options to provide borrowers with the flexibility and speed they need to fund real estate investments or property purchases. Whether you're a fix-and-flip investor, a property developer, or an individual in need of fast financing for a real estate transaction, our hard money loan programs can offer quick approval and funding to help you seize opportunities in the real estate market. With our expertise in hard money lending, we strive to provide efficient and tailored financing solutions to meet the diverse needs of our clients.

  • HELOC (Home Equity Line of credit)

    A Home Equity Line of Credit (HELOC) is a revolving line of credit that allows homeowners to borrow against the equity in their home. It works similarly to a credit card in that you have a credit limit based on the equity in your home, and you can borrow against that limit as needed. At Mortgage Beast, we offer HELOCs to homeowners who want to access the equity in their homes for various purposes such as home renovations, debt consolidation, education expenses, or emergencies. HELOCs typically have variable interest rates and a draw period during which you can borrow funds, followed by a repayment period during which you must repay the borrowed amount plus interest. With our HELOC options, homeowners can tap into their home equity flexibly and conveniently, providing access to funds when they need them most. Whether you're looking to make home improvements, cover unexpected expenses, or finance major purchases, a HELOC from Mortgage Beast can provide the financial flexibility you need to achieve your goals.

  • DSCR (Debt Service Coverage Ratio)

    Debt Service Coverage Ratio (DSCR) is a financial metric used to assess the ability of a borrower to cover their debt obligations with their income. It's commonly used in commercial real estate lending to evaluate the financial health of a property or investment.

    DSCR is calculated by dividing the property's net operating income (NOI) by its total debt service (TDS), where:

    DSCR = NOI / TDS

    A DSCR of 1.0 indicates that the property's income is just enough to cover its debt obligations, while a DSCR above 1.0 indicates that the property generates more income than needed to cover its debt payments, which is generally favorable for lenders.

    At Mortgage Beast, we consider DSCR when evaluating commercial real estate loans to ensure that borrowers have sufficient income to cover their debt obligations. By analyzing DSCR along with other financial metrics, we can assess the financial viability of a property and provide tailored financing solutions to meet the needs of our clients.