ATTENTION: For Those who are serious about Getting Pre-Qualified FAST!
Bill Rapp, Mortgage Originator: NMLS 228246
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HERE'S WHAT MY CLIENTS SAY:
What People Are Saying:
Excellent Service
Bill is an exceptional loan officer. He helped us to purchase our home with very personal and professional service. He helped us navigate the whole process from start to closing without any problems. We didn't think we're qualified to purchase a house, but Bill went above and beyond to find a way to help us achieve our goal. He always responded very quickly with our requests, he would come back with different options with comparison chart to clearly indicate how much we need for down payment, monthly payments, interest rates, closing costs etc.
We would highly recommend Bill to anyone in need of lending services. In fact, we have already recommended Bill to one of our friends on purchasing a house.
--- David Chan - Houston, TX
Bank Statement Lending!
William Rapp of Network Funding, L. P. was very professional and I felt comfortable in dealing with him. I will definitely recommend him to family and friends.
--- Ian F - Missouri City, TX
Professionalism - Expert In Home Style Loan
Bill is an expert in the topic, his explanations and online material make a difference and he is always there from the beginning to the end. He is committed to make thing happen.
--- Felipe Caldern & Carolina Angel Gutierrez
Great Service!
Bill Rapp's handling of our loan (even though out of state) was unparalleled to any service I have been through prior, including 3 different real estate transactions and multiple refinances. Extremely quick close, with great options and flexibility for my families needs. All around A+
--- Chris & Beth Sheehan - San Jose, CA
Knowledgeable and Responsive!
Bill was a pleasure to work with and he made the loan process fairly easy. He answered all questions I had very quickly and was straight forward in doing it. I would recommend Bill to others.
--- Wes Brady - Richmond, TX
Very professional and always returned our calls!
Bill takes a lot of pride in his job and is very dependable. They were very patient and understanding. He went out of his way and explained all my questions and concerns. They were very professional and returned my phone calls and emails. He did a great job and I fully recommend him.
--- Therese, Malcom & Shirley Teixeira - Katy, TX
Great Job!
Bill helped us out from beginning to end of loan process. The loan closed in a timely manner as Bill worked hard with bank to get our to the final steps.
--- Kamal & Theresa Wilson - Hartford, CT
Avid Problem-Solver and Absolute Pleasure to Work With!
Bill Rapp worked very hard to ensure that we closed our loan and were able to move into our new home. He always had alternatives to any problems we encountered while closing. He worked with us from the beginning identifying solutions to any problems that we were having. He was an absolute pleasure to work with!
--- Nikita Rayani & Sanit Tejani - Houston, TX
Awesome to work with!
Being a first-time buyer I came in with lots of questions and concerns. Bill was always available for any questions I had and answered everything to my satisfaction. Bill made the loan process so painless that I could still concentrate on other things. We ended up closing early which made things even better. If you are in need of a lender and want someone who is very approachable and stays on top of your loan then Bill is your guy.
--- Cesar Raya - Richmond, TX
Loan Declined by my bank, and he saved the day!
Bill, did an amazing job helping me close on my house. He took the reigns and reassured me the best route to take to help close. He was accountable, thorough and trustworthy. I will continue to work with Network Funding, L.P. when it comes to home buying in the future because of the quality of service Bill gave.
--- Jacob Smith - Boerne, TX
Bill Rapp Will Definitely Make It Happen!
Bill is the most kind, patient and helpful person I have ever known. He answers his phone calls and emails promptly. You can ask him a million questions, and he will answer each and every one of them. Before I started working with Bill, I had been turned down for a home loan, because of some past credit issues I had, plus I was a single mother. However, once I started working with Bill, he was able to quickly get me a home loan, with a good interest rate. I would recommend that you call him, as he will help you.
--- Corinne Wilson - Roselle, NJ
Knowledgeable, Honest, Trustworthy, and Reliable!
"I will definitely keep you in mind. If anyone I know needs financing, I will send them your way!"
--- Jon & Andrea Saleem, CRPC Financial Advisor - Houston, TX
Best Dam Mortgage Guy a man could know!
"Hands down the best loan experience to date!"
--- Gabe & Chelsea Jackson - Pearland, TX
Phenomenal, Hard Working and Never Quits!
Had a stupid foreclosure that could have been avoided if ex’s attny would have sent my buy out offer. So Bill was able to push this through with a 4 year foreclosure. He worked his butt off, was very diligent with his communication; and was very professional talking to me even when I was screaming and/or crying at him. Highly recommend this lender. He really go to the ends of the earth to help you!
--- Liz Keeter - Harlingen, TX
Exceptional customer service!
Bill is the most kind, patient and helpful person I have ever known. He answers his phone calls and emails promptly. You can ask him a million questions, and he will answer each and every one of them. Before I started working with Bill, I had been turned down for a home loan, because of some past credit issues I had, plus I was a single mother. However, once I started working with Bill, he was able to quickly get me a home loan, with a good interest rate. I would recommend that you call him, as he will help you.
--- Isha Lopez & Mauricio Garcia - Houston, TX
Service with a capitol S
Bill went above and beyond at every turn. He worked late on Saturday, he worked late all the time. We wanted to close ASAP and he really helped make it happen for us.
--- Jeff & Wendy Heger - Houston, TX
Best Buying Experience!
I would would highly recommend going with Network Funding LP. As a first time home buyer I didn't know what to expect. Bill Rapp was very helpful in answering all my questions and guided me through all ghe steps. I couldn't have asked for a better buying experience!
--- Tabitha Turner - Humble, TX
Would recommend him and use him again!
Very involved and professional . Kept me informed and up to date on everything that was going on Went with me closing and was very helpful and knowledgeable.
--- Kathy Ward - Houston, TX
Great experience!
Well I meet bill back in December 2016 he got recommended by my real estate agent we had a house in sight and started the process to get approved but we fail due to my work history and credit bill told me not to give up and put me in contact with a credit repair company they help me bring my score up and bill walk me thru the process of getting a new line so this time around we got approved before looking for our house after we found it we still had a couple of hick up but with bills help on Sunday 6-18-17 to be exact Father's Day bill called me to give me the great news that we had got approved and the closing date was as scheduled bill was more than just a lender to my family he became a friend and I'm alway going to have him in mind for any other financial situation.
--- Alejandres Felimon - Richmond, TX
I really liked his attitude!
I wouldn't usually say this but the way he had handled my mortgage was really pleasant. I personally enjoyed the time spent with him while we discussed feasible rates. He's a great man with a great personality and he offered really low interests as well. Definitely recommend him to others.
--- Tom Troiano - Atlantic City, NJ
He's nothing short of a miracle!
I'm a self-employed businessman and had him figure out the mortgage of the house after 30% down payment. The interest rates I received were incredibly low given what I had thought of earlier. One other important thing to note was that I hadn't really taken any loans earlier, so I had no credit history. He helped me out with all that as well so I can't really call him anything else but a miracle.
--- Fran Suarez - Cleveland, OH
He's really helpful!
I made a bid to him and the very same day he gave me an offer which I couldn't resist. It was too intimidating with those incredibly low interest rates and all, thoroughly recommend him.
--- Kenny Mickle - Houston, TX
Expeditious!
Bill was very expeditious and made it real easy going through the loan process. I felt he was on top of things.
I deal with investment properties and will more than likely call on him again.
--- Wayne King - Pensacola, FL
Bill was great!
Bill made us feel like a friend all the way thru the process. He was patient and explained everything he needed clearly. He was available ANYTIME we had questions or needed more information. Hopefully we won’t go thru this process again anytime soon, but if we do - we’d choose Bill! =)
--- Barbra & Nick Grimmer - Austin, TX
Great broker!
Bill was a great broker to work with. As first time home buyers we had many questions about the process, Bill took the time to help us even calling us back on weekends with answers. I would not hesitate to recommend him to anyone looking for a broker to work with.
--- Murray & Lisa Turner - Pensacola, FL
Outstanding service!
I couldn't have been more pleased with Bill's level of service. He made what is typically a lengthy, arduous process far quicker and easier at every turn. I'm extremely comfortable recommending Bill to friends and family, and will definitely utilize his services again!
--- Jim Lipari - Austin, TX
FHA 203 H Loan Product
The Section 203(h) program allows the Federal Housing Administration (FHA) to insure mortgages made by qualified lenders to victims of a major disaster who have lost their homes and are in the process of rebuilding or buying another home.
Purpose:
Through Section 203(h), the Federal Government helps victims in Presidentially designated disaster areas recover by making it easier for them to get mortgages and become homeowners or re-establish themselves as homeowners.
Type of Assistance:
This program provides mortgage insurance to protect lenders against the risk of default on mortgages to qualified disaster victims. Individuals are eligible for this program if their homes are located in an area that was designated by the President as a disaster area and if their homes were destroyed or damaged to such an extent that reconstruction or replacement is necessary. Insured mortgages may be used to finance the purchase or reconstruction of a one-family home that will be the principal residence of the homeowner. Like the basic FHA mortgage insurance program it resembles (Section 203(b) Mortgage Insurance for One to Four Family Homes), Section 203(h) offers features that make recovery from a disaster easier for homeowners:
No down payment is required. The borrower is eligible for 100 percent financing. Closing costs and prepaid expenses must be paid by the borrower in cash or paid through premium pricing or by the seller, subject to a 6 percent limitation on seller concessions.
FHA mortgage insurance is not free. Mortgagees collect from the borrowers an up-front insurance premium (which may be financed) at the time of purchase, as well as monthly premiums that are not financed, but instead are added to the regular mortgage payment.
HUD sets limits on the amount that may be insured. To make sure that its programs serve low and moderate income people, FHA sets limits on the dollar value of the mortgage. The current FHA mortgage limit can be viewed online. These figures vary over time and by place, depending on the cost of living and other factors (higher limits also exist for two to four family properties).
Eligible Customers:
Anyone whose home has been destroyed or severely damaged in a Presidentially declared disaster area is eligible to apply for mortgage insurance under this program.
Application:
The borrower's application for mortgage insurance must be submitted to the lender within one year of the President's declaration of the disaster. Applications are made through an FHA approved lending institution, who make their requests through a provision known as "Direct Endorsement," which authorizes them to consider applications without submitting paperwork to HUD. Mortgage insurance processing and administration for this and other FHA single family mortgage insurance products are handled through HUD's Homeownership Centers.
My best advice to you is to call Bill Rapp, the Mortgage Viking, to discuss your options today 281-222-0433.
🏡 Jumbo Loan Mistakes High Earners Make That Can Cost You Approval 💰
🏡 Jumbo Loan Mistakes High Earners Make That Can Cost You Approval 💰
🚨 Making $500K a Year? These Jumbo Mortgage Mistakes Could Still Get You Denied 🚨
Jumbo Loan Mistakes High Earners Make
Making $500K a Year Doesn't Guarantee Mortgage Approval
One of the biggest misconceptions among executives, physicians, attorneys, business owners, and other high-income professionals is believing that a large income automatically guarantees approval for a jumbo mortgage.
The reality is quite different.
Every year, I work with high earners who are surprised to learn that earning $300,000, $500,000, or even $1 million annually does not automatically qualify them for a jumbo loan.
Jumbo mortgage underwriting is often more complex than conventional financing. Lenders scrutinize assets, liabilities, cash flow, credit profiles, employment history, and reserve requirements at a much deeper level.
If you're considering purchasing a luxury home, physician home, executive relocation property, or high-end investment property, avoiding these common mistakes can dramatically improve your chances of approval.
What Is a Jumbo Loan?
A jumbo loan is a mortgage that exceeds conforming loan limits established by the Federal Housing Finance Agency (FHFA).
Because these loans cannot typically be sold to government-sponsored entities, lenders assume more risk and therefore apply stricter underwriting guidelines.
Common jumbo loan characteristics include:
·Higher loan amounts
·Larger reserve requirements
·Enhanced documentation
·Stricter debt-to-income ratios
·Stronger credit expectations
·Detailed asset verification
Mistake #1: Assuming Income Alone Qualifies You
Many professionals focus solely on their salary.
Lenders focus on:
·Total debt obligations
·Monthly cash flow
·Existing mortgages
·Student loans
·Credit utilization
·Liquidity after closing
A surgeon earning $700,000 annually may still struggle to qualify if carrying multiple investment property loans, significant student debt, or high revolving balances.
Income is only one piece of the underwriting equation.
Mistake #2: Changing Jobs Before Closing
Executives and physicians frequently receive new opportunities that come with higher compensation.
While a new job may improve long-term finances, changing employment during the mortgage process can create underwriting delays.
Lenders often require:
·New employment contracts
·Verification of guaranteed compensation
·Documentation of bonus structures
·Confirmation of start dates
Always discuss employment changes with your mortgage advisor before making a move.
Mistake #3: Large Unexplained Deposits
Jumbo lenders pay close attention to asset documentation.
Large deposits often trigger additional scrutiny.
Examples include:
·Cryptocurrency sales
·Stock liquidations
·Business distributions
·Family gifts
·Real estate sales
Maintaining a clear paper trail helps prevent underwriting delays and conditions.
Mistake #4: Overlooking Reserve Requirements
Many jumbo borrowers are surprised by reserve requirements.
Depending on the loan structure, lenders may require:
·Six months reserves
·Twelve months reserves
·Twenty-four months reserves
Reserves may need to remain available even after the down payment and closing costs are paid.
This is especially important for self-employed borrowers and investors.
Mistake #5: Carrying Excessive Student Loan Debt
Doctors, dentists, attorneys, and other professionals frequently carry significant educational debt.
Even when payments are deferred, lenders often must include some form of payment calculation when determining debt-to-income ratios.
Proper loan structuring can often help mitigate these challenges.
Mistake #6: Maximizing Credit Utilization
Many affluent borrowers use credit strategically.
However, high balances relative to credit limits can reduce credit scores and negatively impact underwriting.
Before applying:
·Avoid opening new accounts
·Avoid large purchases
·Keep utilization low
·Monitor credit reports
Small improvements in credit scores can often result in better jumbo loan pricing.
Mistake #7: Not Working with a Mortgage Broker
Many jumbo borrowers assume their private bank offers the best solution.
In reality, jumbo loan guidelines vary significantly between lenders.
A mortgage broker can compare multiple options including:
·Bank portfolio loans
·Physician loans
·Professional programs
·Asset depletion loans
·Non-QM alternatives
·Jumbo ARM programs
Access to multiple lenders often creates more flexibility and potentially better terms.
Special Considerations for Doctors, Attorneys, and Executives
High-income professionals frequently face unique underwriting scenarios:
Physicians
·Large student loan balances
·Deferred educational debt
·Employment contracts
Attorneys
·Partnership income
·Bonus compensation
·Variable earnings
Corporate Executives
·Restricted stock units (RSUs)
·Stock options
·Deferred compensation
Business Owners
·Tax return complexity
·Write-offs reducing qualifying income
·Multiple business entities
Proper planning before applying can dramatically improve approval odds.
The Bottom Line
A jumbo mortgage is about much more than income.
The highest-income borrowers are often surprised by underwriting requirements involving reserves, assets, debt ratios, documentation, and credit management.
If you're considering purchasing a luxury home, physician residence, executive relocation property, or high-end primary residence, preparation is critical.
At Medallion Funds, we help doctors, dentists, attorneys, executives, and self-employed professionals navigate the jumbo loan process and identify the best financing strategy for their unique situation.
Before you start house shopping, let's build a mortgage game plan that maximizes your approval options and positions you for success.
Bill Rapp
Partner | Medallion Funds
Residential Lending in AL, CA, CO, NV & TX
Commercial Lending Nationwide
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