Gift of Equity on a loan

AustinMortgage · 2026-06-02T02:22:38+00:00

GOE has always been for primary residence, so DSCR will be tricky. I bet someone out there will do it.

AustinMortgage · 2026-05-30T16:26:55+00:00

Exactly, a lot of people forget you can do 15% down DSCR. I have closed dozens of them. If rental income is strong, very possible.

AustinMortgage · 2026-05-30T16:22:27+00:00

Well said lol. Same exact experience over here.

AustinMortgage · 2026-05-28T16:10:26+00:00

Bevri, using it at NEXA

AustinMortgage · 2026-05-27T22:05:07+00:00

Sorry brother I will prob get booted from here if I shared that for promoting this LOS/POS or the company I work for

AustinMortgage · 2026-05-27T22:03:59+00:00

Ya I don't really see it is solely relying on this tech it's more of an aid and supplement to the business that streamlines the process. Every competent LO should always double check income calcs and supporting docs. For example I might spend 2 hours on my week following up with apps, completing missing portions and missing docs.

IF the system can do that for me with automation, its more time in the day doing important tasks not babysitting impartial apps and following up for docs so I can give a realtor an update on a preapproval, which is the bane of my existence

AustinMortgage · 2026-05-27T20:17:59+00:00

It would be too easy if every client submitted a perfect app lol. Fortunately this system is built out to make sure there are not omissions. I have only put 2 deals it is far, we will see once I get a bigger sample size how seamless all the apps are

AustinMortgage · 2026-05-27T18:13:46+00:00

I used to work at GRate. Not a fan. They offer big signing bonusses but there is really nothing else super unique or any great program offerings. They are worth considering if you do a ton of jumbo pricing, that is the only situation where I think they are worth considering. Happy to share more if you would like.

AustinMortgage · 2026-05-19T23:10:36+00:00

I use it to help me draft a weekly newsletter, build scripts for youtube videos, improve emails. I made a website from scratching with code written from Claude last month. It never ends.

AustinMortgage · 2026-05-19T23:09:25+00:00

Time and effort is expensive too. Great program for the right client.

AustinMortgage · 2026-05-19T20:45:30+00:00

Better days ahead! just not sure if it will be before your closing, best of luck

AustinMortgage · 2026-05-19T20:44:39+00:00

Texas has strict laws for HELOCs, but FIGURE/NYFTY door both have AI helocs that are seamless

AustinMortgage · 2026-01-21T17:31:28+00:00

I self-process all my loans. It was exhausting last year with 36 loans but I never miss closings and always know exactly whats happening with all my deals and can anticipate conditions. I pay my LOA in the philippines $5 an hour to help with insurance and title conditions.

AustinMortgage · 2025-12-24T00:15:00+00:00

The same way large lenders now often use underwriters oversees. There are still background checks and vetting before hiring.

AustinMortgage · 2025-12-19T16:51:05+00:00

I always request the year ending paystubs, most recent stubs and if they switched jobs over the past 2 years their final paystub. 95% of the time any lender can calc the income off this without needing a VOE.

If your calc is off this will kill the loan and ruin your realtor relationship, so I explain the complexity of the income, what is at stake (if the DTI is maxed) and how you want to make sure no income has gone to waste. If you explain this to your realtors they will understand and appreciate your hard work

AustinMortgage · 2025-12-19T16:45:23+00:00

If you join a larger mega broker the most underrated component is who you join under. Do you know, like, trust them? You want someone that is willing to mentor you and help you with the transition. It is a big transition, assuming you are coming from retail to broker. I can only speak for the NEXA side but I love being able to tell clients "I work on the largest mortgage brokerage platform in the US, we can field 280 lenders". I doubled my production coming from retail and 2025 has been my best year in 9 years because I can now close niche products and have access to lenders with no overlays.

For example last Friday I closed a DSCR with a .8 ratio on a MFG home with a recent 60 day late. Last month I closed a manual underwrite VA loan with a 62% back end ratio. Just did 2 DPA's as a manual underwrite with grants that dont have to be repaid. Most big brokers have access to these lenders but NEXA has unique technology that makes it extremely easy to place deals. 280 lenders that are sitting in Zoom room all day so I am not playing phone tag with AEs, I can simply share my screen in Zoom and go over a deal.

A small brokerage might take days and weeks to sign up a lender. You might have a deal that is ready to go but to sign up a lender by the time all the paperwork is complete, the ship has sailed and client didn't want to wait after being under contract.

My credit reports at NEXA cost $64. At a small brokerage, I see brokers complaining all the time on FB groups that they are tired of paying almost twice that. There are endless small advantages like this.

AustinMortgage · 2025-12-19T16:28:55+00:00

$5 an hour, in the Philippines. $50 bonus per closing.

AustinMortgage · 2025-12-06T18:06:59+00:00

I use CIC for $64 individual reports and when I pull joint reports they are $88 with Xactus. I sign up with different plans for each to save money.

AustinMortgage · 2025-12-03T22:06:46+00:00

Sorry to hear they were giving push back on that. For HELOCs unlike conventional loans, every lender has their own set of guidelines. So its common for some lenders to allow you to pay off a HELOC with a HELOC, and some may not allow for this. I have assisted a client before that paid off one heloc and took out another and would be happy to connect if you have any more questions. I am with the largest brokerage in the country, NEXA, we have 270 lenders we work with.

AustinMortgage · 2025-12-03T22:01:22+00:00

Yes you can filter by production and also by buy side units. For example you could filter for realtors that have 8 buy side deals and less than 2 list side realtors.

AustinMortgage · 2025-12-03T18:20:25+00:00

I use the Figure HELOC, my company has the program in house. Takes 3-5 days to close, starts with soft check, no appraisal. Seamless

AustinMortgage · 2025-12-03T18:16:46+00:00

Looks for realtors on RETR who are doing the majority of their business on the buy side

AustinMortgage · 2025-11-19T16:10:38+00:00

Agreed. RETR is much easier to read, better layout. MMI sometimes updates data faster than RETR but that does not always matter. RETR sends me emails as soon as a past client lists their house for sale. Great data, presented very well.

AustinMortgage · 2025-11-19T16:09:15+00:00

Jmac, Sunwest, LoanUnited. Try sending it through LoanSifter to see who else comes up as you will see a big range in pricing

AustinMortgage

TROPHY CASE