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. No credit pull. 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.
View VA Loans FAQ →What “No Overlays” Means
An overlay is a credit rule a lender adds on top of VA’s. We don’t add them — we underwrite to VA guidelines. Separate from underwriting, every VA loan must also be eligible for sale or securitization, and Ginnie Mae sets pooling requirements that apply to all lenders and that no lender can waive. Refinances in particular carry seasoning requirements under Ginnie Mae that are broader than VA’s. We’ll tell you upfront if one applies to you.
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.
View FHA FAQ →USDA Loans FAQ
100% financing for eligible rural and suburban areas — income limits, property eligibility maps, and guarantee fees.
View USDA FAQ →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.
View Conventional FAQ →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).
View Jumbo FAQ →Alternative AUS FAQ
For files that fall outside standard automated approval but are still agency-eligible. 720 FICO when self-employed income is used, 49.99% DTI, loan amounts to $3 million. What to do when the automated system says no but the file is strong.
View Alternative AUS FAQ →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.
Self-Employed Mortgage FAQ
Start here if you own a business. Which documentation type fits how you actually get paid, why write-offs are not the obstacle you think, and how the four income methods compare.
View Self-Employed FAQ →Self-Employed Refinance FAQ
Refinancing rather than buying. Seasoning clocks, cash-out caps, rate-and-term versus cash-out definitions, and the LTV grids for each documentation type.
View Self-Employed Refinance FAQ →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.
View Bank Statement FAQ →DSCR Loans FAQ
Investor loans qualified on rental income, not personal income. DSCR ratio math, vacancy rules, short-term rentals, and LLC vesting.
View DSCR FAQ →1099 Income Loans FAQ
For contractors, commission earners, and gig workers. Use your 1099 income directly — no tax return write-offs hurting your DTI.
View 1099 FAQ →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.
View P&L FAQ →Asset Depletion Loans FAQ
Qualify on liquid assets and retirement accounts — no employment income required. The math for converting assets to monthly income.
View Asset Depletion FAQ →ITIN Loans FAQ
For borrowers with an ITIN instead of a Social Security number. Document rules, down payment, and state availability.
View ITIN FAQ →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.
View Foreign National FAQ →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.
HELOC Comparison — Three Programs
Read this first. We run three different equity programs and they are not interchangeable. Full CLTV grids, payment structures, credit minimums, Texas rules, and what each one is wrong for.
Compare All Three →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.
View HELOC FAQ →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.
View Closed-End Second FAQ →6. Down Payment Assistance FAQs
Colorado money you can use toward the down payment and closing costs — plus two national programs with no income limit at all. Most of it is a zero percent second loan with no monthly payment, and one option is a true grant you never repay.
Colorado Down Payment Assistance
Every program compared — CHFA, CHAC, the Denver-area program, and two national options. Grant up to $25,000 that is never repaid, or a zero percent second. Colorado school employees can access up to 25% of the first mortgage. County income limits, purchase price caps, and what each one asks for in return.
View DPA Programs →Colorado Down Payment Assistance FAQ
The follow-ups. Whether it weakens your offer, what happens if you refinance later, appraisal gaps, self-employment, student loans, co-signers, and what the catch actually is.
View DPA FAQ →7. 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.
View Fix & Flip FAQ →Construction Loans FAQ
Ground-up construction and owner-builder programs. Builder approval, draw process, single-close vs. two-close, and conversion to permanent financing.
View Construction FAQ →8. 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.
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 September 1, 2026.
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No SSN required. No credit pull. Takes about 2 minutes.