Every mortgage loan we offer has its own FAQ page — VA, FHA, USDA, Conventional, Jumbo, Non-QM, DSCR, bank statement, HELOC, construction, and more. Each one answers the most-asked questions for that loan, with rules and limits pulled straight from the PRMG product matrix. Use this hub to jump to the FAQ for the loan you care about. Lending in 49 states. New York excluded.
No SSN required. Takes about 2 minutes.
1. VA Loan FAQs
No-overlay VA lending. No minimum credit score. Manual underwriting built around residual income. One master FAQ covers VA Purchase, VA IRRRL Streamline Refinance, and VA Cash-Out Refinance.
VA Loans FAQ (Master)
Every VA question in one place — Purchase, IRRRL, Cash-Out. Credit floors, residual income, manual underwriting, funding fee, 100% disability, seller concessions, new construction, and the rules other lenders won’t touch.
2. FHA & USDA FAQs
Low down payment, flexible credit, government-insured. Best fit for first-time buyers and rural/suburban properties.
FHA Loans FAQ
3.5% down, 580 credit minimum, MIP rules, gift funds, and how FHA stacks against Conventional and VA.
USDA Loans FAQ
100% financing for eligible rural and suburban areas — income limits, property eligibility maps, and guarantee fees.
3. Conventional & Jumbo Loan FAQs
Fannie Mae and Freddie Mac conforming loans, plus high-balance conforming and full jumbo above the conforming limit. The default loan type for most W-2 borrowers with strong credit, plus 8 distinct jumbo programs for higher-priced markets.
Conventional Loans FAQ
Down payment minimums, PMI rules, conforming vs. high-balance vs. jumbo, DTI caps, and reserves. The default loan for most W-2 buyers.
Jumbo Loans FAQ
8 jumbo programs for 2026: credit from 660, 10% down up to $2M, interest-only up to $5M, VA jumbo, and the non-QM jumbo comparison. For loans above $832,750 ($1,249,125 in high-cost counties).
No SSN required. Takes about 2 minutes.
4. Non-QM Loan FAQs
For self-employed borrowers, real estate investors, 1099 earners, content creators, retirees on assets, and anyone whose tax returns don’t tell the full story. Every question answered, every limit pulled from the PRMG Non-QM matrix.
Bank Statement Loans FAQ
12 or 24 months of bank statements instead of tax returns. Expense ratios, deposit qualifying, and how the math actually works.
DSCR Loans FAQ
Investor loans qualified on rental income, not personal income. DSCR ratio math, vacancy rules, short-term rentals, and LLC vesting.
1099 Income Loans FAQ
For contractors, commission earners, and gig workers. Use your 1099 income directly — no tax return write-offs hurting your DTI.
P&L Statement Loans FAQ
Qualify on a CPA-prepared profit and loss statement. Document requirements, eligible business types, and when this beats bank statements.
Asset Depletion Loans FAQ
Qualify on liquid assets and retirement accounts — no employment income required. The math for converting assets to monthly income.
ITIN Loans FAQ
For borrowers with an ITIN instead of a Social Security number. Document rules, down payment, and state availability.
Foreign National Loans FAQ
For non-U.S. citizens buying property in the United States. No U.S. credit required, source of funds rules, eligible visa types.
No SSN required. Takes about 2 minutes.
5. Home Equity FAQs
Pull cash from your home without refinancing your first mortgage. Two products — choose the one that fits how you want to borrow.
Lightning Equity Hybrid HELOC FAQ
$25K–$750K, fixed rate per draw, funds in 5 business days. Every question — rates, credit, lien position, draws, payments, fees.
Closed-End Second Mortgage FAQ
One lump sum at closing, fixed rate, fixed term. Keep your low first mortgage rate. Best for one-time uses like debt consolidation or major projects.
6. Investor & Construction FAQs
Short-term financing for flippers, BRRRR strategy investors, and owner-builders. Different math, different timelines, different rules.
Fix & Flip Loans FAQ
Short-term financing for buy, rehab, and resell projects. LTV/LTC, draw schedules, experience requirements, and exit strategy rules.
Construction Loans FAQ
Ground-up construction and owner-builder programs. Builder approval, draw process, single-close vs. two-close, and conversion to permanent financing.
7. Don’t See Your Question?
If your situation isn’t covered in one of the FAQs above, send it over. We answer every question that comes in — and if it’s common enough, it gets added to the right FAQ page so the next person looking gets a direct answer.
The intake form covers all 8 loan paths and routes your file to the right product fit. No SSN. No hard credit pull. About 2 minutes.
No SSN required. Takes about 2 minutes.
About these FAQs: Written by J.D. Peck, NMLS #314883, Area Manager and Mortgage Loan Originator at Paramount Residential Mortgage Group (PRMG), NMLS #75243. 25+ years of mortgage lending experience, 3,100+ loans closed, Scotsman Guide Top Originator 2026. Every FAQ on this site is built directly from the relevant PRMG product matrix. Guidelines are subject to change. Lending in 49 states. New York excluded. Last updated May 29, 2026.