Mortgage options
Home equity first. The full mortgage picture, too.
Start with HELOCs and home equity options for debt consolidation, renovations or an ADU. Buying, refinancing and investing are here too, through West Capital Lending’s lender network.
01
Home equity & second liens
Borrow against home equity while potentially keeping the existing first mortgage.
- Who it fits
- Homeowners who need money for a defined purpose and want to compare keeping versus replacing their first loan.
- What to weigh
- A HELOC and a home-equity loan have different draw and repayment structures. Compare fixed versus variable terms, fees and both mortgage payments together. The home secures the debt.
- Compare with
- Cash-out refinance; a smaller amount; waiting.
Programs
- HELOC
- Home-equity loan / HELOAN
- Second-lien structures
02
Conventional & jumbo
Home financing built around the purchase, the property and documented income.
- Who it fits
- Buying a primary home, a second home or an investment property; refinancing an existing loan.
- What to weigh
- Down payment, mortgage insurance, loan size and how income is documented can change the comparison. A larger loan is not simply the same loan with a bigger balance.
- Compare with
- Government-backed financing; alternative documentation when the file calls for it.
Programs
- Conventional loans
- Jumbo loans
- High-balance conventional
- Second-home financing
03
Government-backed home loans
FHA, VA and USDA are separate programs with different purposes and rules.
- Who it fits
- Buyers and homeowners considering an agency-backed structure, including eligible veterans and eligible rural-home buyers.
- What to weigh
- Compare total costs and any program-specific insurance or funding charges. Military status or a rural address alone does not establish eligibility.
- Compare with
- Conventional financing and down-payment solutions.
Programs
- FHA loans
- VA loans
- USDA loans
- FHA Streamline refinance
- VA IRRRL
- VA cash-out refinance
04
Refinance
Replace an existing mortgage to change its structure, term or access to equity.
- Who it fits
- Homeowners with a specific reason to change the loan—not just a headline rate to chase.
- What to weigh
- Closing costs and a restarted term can offset a lower payment. Cash-out reprices the existing balance as well as the new money. Compare cost over the time you expect to keep the loan.
- Compare with
- Keep the current mortgage; HELOC or home-equity loan for an equity need.
05
Self-employed & alternative documentation
Different ways to document income when the standard tax-return picture needs a closer look.
- Who it fits
- Business owners, independent contractors and borrowers with eligible assets or nontraditional income documentation.
- What to weigh
- Self-employed does not automatically mean Non-QM. Documentation, pricing and investor requirements differ; compare agency financing before assuming an alternative is necessary.
- Compare with
- Conventional or government-backed financing; DSCR for a relevant rental-property scenario.
Programs
- Self-employed loans
- 12-month bank statement programs
- 24-month bank statement programs
- 1099 income programs
- Profit-and-loss / P&L programs
- Asset-based / asset-depletion options
06
Investor & Non-QM
Structures for rental-property, investment and other files outside standard qualified-mortgage categories.
- Who it fits
- Investors comparing property-income analysis, acquisition timing, renovation plans and an eventual exit.
- What to weigh
- DSCR centers on the property’s rental income relative to its debt obligation; it is not documentation-free. Short-term bridge or hard-money financing needs a credible repayment or exit plan. Interest-only payments do not pay down principal during that period.
- Compare with
- Conventional investment-property financing; renovation financing matched to occupancy.
Programs
- Non-QM
- DSCR loans
- Interest-only options
- Bridge loans
- Hard money
- Fix-and-flip financing
07
Renovation & construction
Financing that accounts for work to be completed, rather than only the property as it stands today.
- Who it fits
- People buying a home that needs renovation, improving an existing home or considering a new build.
- What to weigh
- The scope of work, property use, budget and construction process matter. An owner-occupied renovation loan and investor fix-and-flip financing are different structures.
- Compare with
- Equity financing or cash-out for improvements; investor financing for an investment project.
Programs
- Construction loans
- FHA 203(k) renovation
- Conventional renovation financing
08
Reverse mortgage
A home-equity financing category for eligible older homeowners, including HECM structures where applicable.
- Who it fits
- Older homeowners comparing cash-flow, equity and long-term housing needs.
- What to weigh
- The balance can grow over time. Taxes, insurance and property obligations remain. Discuss counseling requirements, repayment triggers and effects on heirs before deciding. Age alone does not determine fit.
- Compare with
- HELOC, home-equity loan, cash-out refinance or keeping the current arrangement.
Programs
- Reverse mortgage
09
First-time buyer & down-payment solutions
Programs and strategies that may help address the upfront side of buying a home.
- Who it fits
- Buyers comparing available cash, ongoing payment and program-specific requirements.
- What to weigh
- Assistance can be a grant or a loan with repayment conditions. A temporary buydown changes initial payments, not the long-term obligation. It is different from paying permanent discount points.
- Compare with
- Conventional, FHA, VA or USDA structures, as applicable.
Programs
- Down payment assistance
- 2/1 buydown
- HomeReady
- Home Possible
- First-time buyer solutions
10
Specialized borrower & property situations
A place to discuss a file that does not fit a familiar category.
- Who it fits
- Foreign-national or ITIN borrowers, or a property scenario that needs specialist review.
- What to weigh
- Foreign-national and ITIN structures are not interchangeable. Documentation, property use and location affect what may be available. Commercial, mixed-use and vacant-land inquiries need an individual scope discussion.
- Compare with
- Other income-documentation or property-specific structures after reviewing the actual file.
Programs
- Foreign-national mortgage options
- ITIN mortgage options
- Commercial scenarios
- Mixed-use scenarios
- Vacant-land scenarios
Program availability, guidelines and pricing change and depend on the borrower, property, location and lender. Listing a program is not a commitment to lend.
Quick answers
Choosing a loan.
What types of mortgages does Shawn Way offer?
Through West Capital Lending, Shawn works with 10 families of financing: home equity & second liens, conventional & jumbo, government-backed home loans, refinance, self-employed & alternative documentation, investor & non-qm, renovation & construction, reverse mortgage, first-time buyer & down-payment solutions, specialized borrower & property situations. Availability depends on the borrower, property and state.
Which mortgage is right for me?
Start with what you want the loan to do, then compare the programs that fit by payment, cash needed, costs and what you give up. The answers linked under each family explain the trade-offs.
Can Shawn help if I don’t fit a standard loan?
Often. Self-employed, investor and other alternative-documentation programs exist for files that don’t fit standard guidelines, usually at a higher cost. No program is guaranteed.
Talk to Shawn
Not sure which family fits?
Tell Shawn what you want the loan to do. He’ll narrow it down and compare the real options.