Home purchase · Refinance · Investment property
Your next property. A clearer path to financing.
Explore mortgage options for your next home, refinance or investment property—with guidance for business owners, self-employed buyers and complex income.
Applications continue on Loan Factory.
Justin Boodram · Loan Factory · NMLS #2467302
Loan Factory, Inc. · Company NMLS #320841
MFS is a referral partner. Mortgage services are provided through Loan Factory.
Choose your goal
What are you planning?
Buy a home
Understand the documents, cash needed and financing considerations before choosing your next property.
Explore Purchase FinancingRefinance a property
Review the proposed payment, closing costs, loan term and how long you expect to keep the loan.
Discuss a RefinanceQualify with business or self-employed income
Explore how tax returns, business financials or alternative documentation may fit different loan programs.
Explore Self-Employed OptionsFinance an investment property
Discuss rental income, property cash flow, down payment and financing structure.
Explore Investor FinancingLooking for Florida mortgage guidance? See how a Florida mortgage broker conversation works, or choose a specialist page above.
A closer look at income
A straightforward salary is not everyone’s financial picture.
When your earnings do not fit one payslip, start by explaining how you earn and what records you have.
Talk Through My Income Situation- Business owners
- Taxable income can differ from operating cash flow. Connect the returns, business financials and funds you intend to use.
- Variable earnings
- Commissions and bonuses need a documented history and an assessment of whether the income is likely to continue.
- Yacht professionals
- Explain the working arrangement and separate your earnings from vessel reimbursements and transfers.
- Property investors
- Discuss rental records, cash flow, ownership structure and the property being financed.
Program suitability depends on documented income, credit, assets, the property and lender requirements. Alternative documentation is not a promise of approval or permission to disregard tax returns.
Compare the full cost
A mortgage decision involves more than the advertised rate.
The lowest monthly payment can come with a longer repayment term, more interest over time or other tradeoffs. Ask what changes today—and over the time you expect to keep the loan.
- Interest rate and APR
- The rate determines interest charged on the balance. APR also reflects certain financing charges; compare similar loan types and terms.
- Discount points and lender fees
- Points can trade a higher upfront cost for a lower rate. Compare offers with the same approach to points and lender credits.
- Cash needed at closing
- Look beyond the down payment to closing costs, prepaid expenses, initial escrow funding and any lender credits.
- The total housing payment
- Budget for principal, interest, property taxes, insurance, mortgage insurance where applicable and association charges—even when some are paid separately.
- Your time horizon
- Compare the loan term with your expected ownership period. For a refinance, weigh upfront costs against the expected benefit and the time needed to recover those costs.
Loan options through Loan Factory
Understand the options before choosing a loan.
These are starting points for a conversation, not a personal offer. Confirm the current program, participating lender and state availability for your file.
| Option and potential fit | What to consider | Next step |
|---|---|---|
| Conventional home loans Home purchase financing for borrowers who meet the applicable income, credit and property requirements. | Down payment, mortgage insurance and pricing depend on the file and program. | Plan a purchase |
| FHA and VA loans FHA-insured financing, or VA-backed financing for eligible borrowers. | FHA has mortgage-insurance costs. VA eligibility and lender underwriting still apply; ask about any funding fee. | Discuss eligibility |
| Jumbo financing A property purchase requiring a loan above the applicable conforming limit. | Documentation, reserves and down-payment requirements vary by lender. | Discuss the property |
| Self-employed and bank-statement programs Business owners whose income needs a more detailed review or a permitted alternative-documentation approach. | Deposits are not automatically qualifying income. Documentation, expenses and program pricing still matter. | Explore income options |
| Investment-property and DSCR financing Rental-property buyers and owners, including programs that evaluate rental income relative to the property’s debt payments. | Property eligibility, rental-income calculations, credit, equity and reserves remain program-specific. | Explore investor financing |
| Rate-and-term and cash-out refinancing Owners reviewing an existing loan’s terms or considering access to available equity. | Closing costs, a new repayment term and a higher loan balance can change the overall cost. | Discuss a refinance |
The process
From your first question to a clearer next step.
Tell us about your property and goal.
Start with buying, refinancing or investing, the property state and your approximate timeline.
Review income, assets and documentation needs.
Discuss how you earn, the funds available and what the applicable program will need to verify. Sensitive documents belong in the lender’s secure process.
Compare available financing options and costs.
Review suitable options from participating lenders, subject to availability, and compare the payment, cash to close and longer-term cost.
Proceed through the applicable lender application and underwriting process.
If you choose to proceed, continue through Loan Factory and the lender’s requirements. Final approval depends on underwriting and satisfaction of applicable conditions.
An inquiry is an introductory conversation. Prequalification and preapproval are lender assessments with different levels of verification; terminology varies. Neither guarantees final approval. Ask what has been checked and which conditions remain.
Discuss My MortgageRelated client case study
Preparing financial records before a first-home purchase
A former yacht captain needed two prior-year tax returns prepared and reimbursement-heavy records reconstructed before organizing financial statements for the mortgage process.
Read the yacht captain tax cleanup case studyCommon questions
Before you take the next step.
Can I explore a mortgage if I am self-employed?
Yes. Start with how the business earns income and what records are available. Depending on the program, lenders may review tax returns, business financials or permitted alternative documentation. Business cash flow and qualifying income are not necessarily the same.
Can yacht crew or borrowers with variable income apply?
Yes. Explain your working arrangement, payment history and any commissions, bonuses or variable earnings. The lender determines which income can be documented and used under its program; the occupation alone does not establish eligibility.
What information should I prepare for an initial conversation?
Your property goal, state, approximate timeline and a brief outline of your income and available funds are a useful start. Do not send Social Security numbers, tax returns or bank statements through the general inquiry form. Secure document requests come through the applicable lender process.
What is the difference between prequalification and preapproval?
Lenders use these terms differently. Prequalification often starts with information you provide; preapproval may involve more verification. Ask what has actually been reviewed and what conditions remain. Neither a letter nor an introductory conversation guarantees final approval.
How should I compare mortgage offers?
Compare Loan Estimates for similar amounts, loan types and terms, issued close together. Look at rate, APR, points, lender fees, cash to close and the total payment. Compare costs over the time you expect to keep the loan, rather than choosing by the lowest payment alone.
Can rental income be considered for an investment property?
It may be, depending on the loan program, property and supporting records. Conventional and DSCR programs evaluate rental income differently. Leases, appraisals, income history, expenses and lender requirements can affect what is counted.
Who provides the mortgage services?
Justin Boodram works through Loan Factory, Inc. for mortgage services. McGregor Financial Services acts as a referral partner and does not originate, underwrite or service mortgage loans. Program and state availability must be confirmed for your situation.
Your next property decision
Have a property in mind—or a financing question?
Tell us whether you are buying, refinancing or investing, where the property is located and what you need help understanding.
The application continues on Loan Factory.
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Mortgage services provided through Loan Factory, Inc. (Company NMLS #320841). Loan Officer: Justin Boodram (NMLS #2467302). McGregor Financial Services acts as a referral partner and does not originate, underwrite, or service mortgage loans. Licensing information available at nmlsconsumeraccess.org. Lender names shown for illustrative purposes; availability varies by state and loan type. Rates and terms subject to change without notice. Verify licensing at NMLS Consumer Access.
Consumer resources: Comparing Loan Estimates · Understanding prequalification and preapproval · Justin’s Loan Factory page.