My House Math | Tchina Diallo

Lower your payment

Buy your rate down

Pay discount points at closing to lock in a lower interest rate and monthly payment.

Read how buydowns work →

Investment property

DSCR investment loans

Qualify based on the property, not your income, using the rent the property brings in.

Explore investment loans →

Help with upfront costs

See if you qualify for down payment assistance

Grants and programs can help cover your down payment and closing costs.

Check assistance programs →

Move fast

Get same-day pre-approval

Once your application and documents are complete, you can get a pre-approval decision the same day.

Start your application →

Before you apply

Get your credit ready

No collections, charge-offs, or late payments in the past 2 years (recommended)
At least 2 active trade lines, like open credit cards or auto loans (recommended)
Lenders qualify you on your middle score of the 3 credit bureaus
Hard pull ($133, 3 bureaus) required to move forward; soft check ($27, 1 bureau) for a first look

See credit requirements →

Subject to credit, income and property approval.

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01Getting started

Overview

What you need before applying — which application path fits you, plus credit, income, and down payment basics.

Recommended: no collections, charge-offs, or late payments in the past 2 years
Recommended: a minimum of 2 active trade lines (open credit cards, auto loans, etc.)
Lenders use your middle score of the three credit bureaus to qualify you
A hard credit pull ($133, all 3 bureaus) will be required to move forward — a soft check ($27, 1 bureau) is available as a first look

Credit score of 640 or higher — Complete the 1003 Application ($133) →
The 1003 is the official Uniform Residential Loan Application — it collects your income, employment, assets, debts, and property details so your file can be reviewed for pre-approval. Best fit if you have a 640+ credit score, a 2-year work history, and no recent credit marks (collections, charge-offs, or late payments in the past 2 years).
Credit score below 640 — Start the Inquiry Form →
The Inquiry Form is a short intake that lets me review where you are before a full application, so we can decide whether to move forward with the 1003 now or map out steps to get you qualified first. Best fit if you have a credit score below 640, less than 2 years of work history, or recent credit issues (collections, charge-offs, or late payments).
A valid, unexpired government-issued photo ID
Credit & debt information — authorization to pull credit, plus details on existing loans and cards
Upload documents & authorize credit pull — needed before a pre-approval can be issued

By law, your loan officer must send you either a pre-approval or a notice of incomplete within three business days of your application — so uploading everything promptly keeps things moving.

Your credit profile plays a big role in which programs you qualify for and what rate you're offered.

▸Hard or soft credit check — which one do I need?

Full application

Hard credit pull

$133

Pulls all 3 credit bureaus (Equifax, Experian, TransUnion)
Your middle score of the three is the actual score used to qualify and price your loan
Required to issue a pre-approval and move forward with a loan

Quick check

Soft credit check

$27

Pulls 1 credit bureau instead of 3
Because lenders qualify you on the middle of three scores, this number may not be the exact score that will be used
A good first look at where you stand — if you decide to move forward, a hard credit pull will still be needed

▸Collections

A collection account is an unpaid debt that's been transferred or sold to a collection agency after the original creditor wrote it off as unpaid.

▸Charge-offs

A charge-off is a debt that a creditor has written off as a loss after an extended period of non-payment, though the debt may still be owed and collectible.

▸Late payments

Recent late payments (especially on a mortgage or rent) carry more weight than older ones. Most programs look closely at the last 12 months of payment history, and multiple recent lates can affect both approval and pricing.

▸Trade lines (credit accounts)

Underwriters typically look for at least 2 installment or revolving accounts with enough history on your credit report to properly score the file.

FHA recommendation: a minimum of 2 active trade lines — open accounts such as credit cards, auto loans, or installment loans that are currently open and reporting.

▸Minimum credit score by program

Program	Minimum credit score
Conventional	620+
FHA	500 (10% down) / 580 (3.5% down)
VA	580–620, lender-dependent
USDA	620+ preferred
Jumbo	700+
Non-QM (bank statement / 1099 / P&L)	500–680
DSCR	620–680+
Fix-and-flip	620–650
Conventional commercial	700+
DSCR commercial	620–680+

Loan program	Income verification approach
Conventional — W-2	2 years W-2s, recent pay stubs, stable employment history
Conventional — self-employed	2 years tax returns, K-1s, YTD P&L and balance sheet
FHA	2 years W-2s/pay stubs, or tax returns if self-employed
VA	Standard income documentation plus residual income calculation
USDA	Household income can't exceed 115% of area median income
Non-QM — bank statement	12–24 months bank statements in place of tax returns (self-employed only)
Non-QM — 1099	1099 statements in place of W-2s
Non-QM — P&L	CPA-prepared profit & loss statement instead of tax returns
DSCR	No personal income verified — qualifies off the property's rental income
Jumbo	Full income documentation, typically 2 years tax returns
Commercial (conventional / DSCR)	Business financials and/or property income (DSCR)

▸Down payment assistance

Down payment assistance is available for personal (primary residence) homes — grants, forgivable second mortgages, and other programs can help cover some or all of your down payment. See the Down Payment Assistance chapter for the full breakdown.

Minimum down payment varies by loan type:

Loan type	Minimum down payment
Conventional (primary)	5% (first-time buyer or haven't bought a primary home in 3 years)
FHA	3.5% (580+ credit) / 10% (500–579 credit)
VA	0% for eligible veterans
USDA	0% (100% financing)
Jumbo	10–20%
Non-QM (bank statement / 1099 / P&L)	10–20%
Conventional (investment)	15–25%
DSCR (investment)	20–25%
Fix-and-flip	10%
Conventional commercial	20–25%
DSCR commercial	20–30%
SBA 504 / 7(a)	10–15%

My House Math provides residential and commercial mortgage financing, with clear guidance from application to closing.

Loan Programs

Home purchase loans

Conventional, FHA, VA, and USDA financing for primary residences and second homes.

Refinancing

Rate-and-term and cash-out refinance options to lower a payment or access home equity.

Investor & Non-QM loans

DSCR, bank statement, and fix-and-flip programs for self-employed borrowers and investors.

Commercial financing

Loans for 5+ unit multifamily, mixed-use, retail, and other business-purpose property.

Down payment assistance

Guidance on grants, forgivable seconds, and other programs that reduce upfront costs.

Pre-approval & planning

Credit, income, and budget review so you know what you can afford before you shop.

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02Personal Home

Overview

Loan options for a home you will live in as your primary residence.

FHA from 3.5% down, Conventional from 5% down, VA and USDA at 0% down
Non-QM options for self-employed borrowers (bank statement, 1099, P&L)
Also covers Jumbo, HELOC/second mortgages, construction, and manufactured homes

Primary residence is the home you live in as your main address most of the year — the property tied to your driver's license, taxes, and voter registration.

▸FHA loans

Government-insured loans built for low-to-moderate income and first-time buyers, with flexible credit and low down payment requirements.

Typical requirements

Minimum credit score of 500 with 10% down, or 580 with 3.5% down
DTI up to 57% with compensating factors
Primary residence only
Less than 20% down means monthly PMI/MIP applies

▸Documents typically required — W-2 employee

W-2s — last 2 years
Driver's license
Pay stubs — received in last 30 days
Social Security card
Bank statements — last 2 months

▸Conventional loans

Follows Fannie Mae and Freddie Mac guidelines. Popular with borrowers who have strong credit and stable income.

Typical requirements

Minimum credit score of 620+
As low as 5% down if you're a first-time homebuyer or haven't bought a primary home in the past 3 years
DTI typically under 45%
Max LTV up to 90% purchase / 80% cash-out on a primary home
No permanent PMI — mortgage insurance cancels automatically once you reach 20% equity, unlike FHA's MIP

▸Documents typically required — W-2 employee

Bank statements — last 2 months
Driver's license
Pay stubs — received in last 30 days
Social Security card
W-2s — last 2 years

▸Documents typically required — self-employed

Bank statements — last 2 months
Business license verification
Driver's license
Federal tax returns — last 2 years (Form 1040)
K-1 statements
Social Security card
YTD profit & loss and balance sheet

▸VA loans

Government-backed loans for eligible veterans, active-duty service members, and certain National Guard/Reserve members, offering 100% financing.

Typical requirements

Valid Certificate of Eligibility required
Credit guidelines often start at 580–620
Primary residence only

No maximum loan limit for borrowers with full entitlement.

▸Documents typically required — W-2 employee

Bank statements — last 2 months
Driver's license
Pay stubs — received in last 30 days
Social Security card
VA Certificate of Eligibility
VA pest (termite) inspection
W-2s — last 2 years

▸Documents typically required — self-employed

Business license verification
Driver's license
Federal tax returns — last 2 years (Form 1040)
Social Security card
VA Certificate of Eligibility
VA pest (termite) inspection

▸USDA loans

100% financing for eligible borrowers purchasing in eligible areas.

Typical requirements

Income must not exceed 115% of area median income
Property must be in an eligible USDA area

Check if a property qualifies: USDA Property Eligibility Map

▸Non-QM loans (bank statement / 1099 / P&L)

Flexible options — bank statement, 1099, P&L, and DSCR loans — for self-employed borrowers and non-traditional income. DSCR loans don't factor in your personal income at all.

Typical requirements

Flexible DTI depending on loan type
Down payment typically 10–20%

▸Documents typically required — bank statement loan

Bank statement loans are available to self-employed borrowers only.

12 months bank statements
Accountant letter for self-employment income
Business certificate of status
Business EIN letter
Business license verification
Driver's license
Federal tax returns — last 2 years (Form 1040)
Social Security card

▸Max LTV by documentation type

Documentation type	Primary	Secondary
Full doc	90%	90%
Asset related	90%	90%
Personal bank statements	90%	90%
Business bank statements	90%	90%
1099	90%	90%
P&L	90%	90%

Purchase/rate & term max LTV shown above. Cash-out max LTV runs lower — see the "Second mortgage & HELOC" card below. Actual LTV depends on credit, reserves, and the specific investor program that fits your file.

▸Jumbo loans

For loan amounts that exceed conforming loan limits — common for luxury or high-value homes.

Typical requirements

Minimum credit score of 700+
Down payment of at least 10–20%
DTI under 45%

▸Second mortgage & HELOC (cash-out)

Tap into home equity through a fixed second mortgage or a home equity line of credit — commonly used for renovations, debt consolidation, or reinvestment.

▸Max LTV by product

Product	Primary	Secondary
Fixed rate 2nd mortgage	up to 90%	up to 80%
HELOC combo	up to 89.99%	up to 89.99%
HELOC standalone	up to 85%	up to 85%

Max CLTV varies by credit, reserves, and investor program.

▸Construction / one-time close

Finances the purchase of land and construction of a home in a single loan that converts to permanent financing once the home is complete.

▸Documents typically required

Construction scope of work & contractor estimate
General contractor verification of insurance & bond
General contractor license & approved plans and permits
New construction certification of occupancy

▸Manufactured home loans

Financing for manufactured homes permanently affixed to a foundation, available through several of the programs above depending on your profile.

▸Documents typically required

Manufactured home affidavit of affixation
Manufactured home decal verification letters

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03Investment Home

Overview

Financing for rentals, fix-and-flips, and other homes you buy to earn income.

DSCR loans qualify off the property's rent — no personal income verified
Conventional investment loans from 15–25% down
Fix-and-flip from 10% down, plus cash-out refinance and HELOC options

Investment property is a home purchased to generate rental income or resale profit rather than to live in — including rentals, fix-and-flips, and short-term rentals.

▸DSCR loans

Qualify based on the property's rental income rather than your personal income — ideal for growing a portfolio.

Typical requirements

Credit score of 620–680+
DSCR ratio of at least 1.00 or higher
Down payment of 20–25%
Max LTV up to 85% purchase / 75% cash-out

Loan amounts available up to $5 million.

▸Documents typically required

▸Conventional investment loans

Standard Fannie Mae / Freddie Mac financing for single-family, condo, or 2–4 unit rental properties.

Typical requirements

Credit score of 680–700+
Down payment of 15–25% depending on property type
DTI under 45%

▸Max LTV by documentation type

Documentation type	Purchase max LTV	Cash-out max LTV
Full doc	85%	80%
Asset related	85%	80%
Personal bank statements	85%	80%
Business bank statements	85%	80%
1099	85%	80%
P&L	80%	80%

▸Non-QM loans (bank statement / 1099 / P&L)

Alternative documentation options for self-employed investors and entrepreneurs.

Typical requirements

Credit score of 600–680
Down payment of 20–30% depending on loan type
Flexible documentation requirements

▸Documents typically required — bank statement loan

Bank statement loans are available to self-employed borrowers only.

12 months bank statements
Accountant letter for self-employment income
Business certificate of status
Business EIN letter
Business license verification
Driver's license
Federal tax returns — last 2 years (Form 1040)
Social Security card

▸Fix-and-flip loans

Short-term financing for purchasing, renovating, and reselling investment properties.

Typical requirements

Credit score of 620–650
Down payment of at least 10%
Real estate investing experience preferred

Max LTV up to 90% of purchase price, plus 100% of renovation costs.

▸Documents typically required

▸Cash-out refinance & HELOC

Tap into equity in an existing investment property to reinvest or cover other expenses.

Typical requirements

Credit score of 620–680+
LTV/CLTV typically 70–80%
Property must be owned 6+ months for cash-out

▸Max LTV by documentation type

Documentation type	Cash-out max LTV
Full doc	80%
Asset related	80%
Personal bank statements	80%
Business bank statements	80%
1099	80%
P&L	80%
Fixed rate 2nd mortgage	80%
DSCR	75%

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04Down payment assistance

Overview

Programs that help cover your down payment and closing costs so you need less cash upfront.

Grants, forgivable seconds, deferred and low-interest second mortgages
Seller concessions and lender credits can also reduce cash to close
Memphis CWDPA: up to $25,000 (10% of sales price) on homes up to $300,000

Not everyone needs to bring the full down payment themselves. Down payment assistance (DPA) programs provide funds — through grants, low-interest loans, or forgivable loans — to help cover some or all of a buyer's down payment and, in many cases, closing costs. Programs are typically run by state and local housing finance agencies, nonprofits, or employers.

Types of DPA programs

Grants

Funds that don't need to be repaid.

Forgivable second mortgages

A second loan that's forgiven after living in the home for a set number of years.

Deferred-payment second mortgages

No monthly payment required until the home is sold, refinanced, or paid off.

Low-interest second mortgages

Repaid monthly alongside the primary mortgage, usually at a below-market rate.

Closing cost assistance

Many DPA programs cover closing costs in addition to (or instead of) the down payment. Other common ways to reduce cash needed at closing:

Seller concessions

The seller agrees to pay a portion of the buyer's closing costs (limits vary by loan program and down payment amount).

Lender credits

Accepting a slightly higher interest rate in exchange for a credit toward closing costs.

Grants

Some DPA programs issue a separate grant specifically for closing costs.

Local spotlight: Memphis

Citywide DPA Program (CWDPA)

Down Payment Assistance Program

Toward down payment and closing costs on a new or existing home in Memphis.

Up to

$25,000

10% of sales price

▸Memphis CWDPA — details

▸Eligibility checklist

Home price — maximum purchase price is $300,000
Savings — must have at least $500 or 1% of the sales price, whichever is less, in checking/savings
Home must pass the required inspection
Complete a HUD-approved housing counseling class

▸Documents typically required (FHA, W-2)

Most recent 30 days of paycheck stubs
Most recent 2 years of W-2s
Most recent 2 months of bank statements, all accounts
Valid government-issued photo ID
Social Security card

A credit score below 640 or negative credit history — including collections, charge-offs, and late payments — may impact loan approval or available loan options. Requirements vary by program.

▸Program terms

No monthly payments — no monthly payments are required on the DPA during the 5/10-year period
Primary residence — you must live in the home as your primary residence for the required 5 or 10 years
Second lien — a second lien is placed on the home for 5 or 10 years and released if all requirements are met

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05Steps

Overview

Your roadmap from application to closing day, in 13 steps.

Pre-approval or notice of incomplete within 3 business days of your application
Appraisal and underwriting are the longest stages
"Clear to close" means every condition is satisfied

Your roadmap from application to the day you get your keys.

Loan application

You complete the 1003 loan application with your income, assets, debts, and the property details, and upload your initial documents so your file can move into review. The 1003 — officially the Uniform Residential Loan Application — is the standard form lenders use nationwide to collect your personal, employment, income, asset, debt, and property information in one place.

Score of 640 or higher, 2-year work history, no recent credit marks (collections, charge-offs, or late payments in the past 2 years)

Complete the 1003 Application ($133) →

Or score below 640, less than 2 years of work history, or recent credit issues (collections, charge-offs, or late payments). Fill out the Inquiry Form so I can review where you are and map out the steps to get you qualified — whether that's building credit, resolving past accounts, or waiting on work history.

Start the Inquiry Form →

Upload documents & authorize credit pull

You upload your supporting documents and authorize a credit pull. By law, your loan officer must send you either a pre-approval or a notice of incomplete within three business days of your application — so uploading everything promptly keeps things moving.

MLO agreement & privacy statement

Your loan officer sends over an MLO agreement and privacy statement outlining how we'll work together and how your information is handled.

Pre-approval

Once AUS (Automated Underwriting System) issues an approved status, your loan officer issues your pre-approval letter — showing REALTORS® and sellers your file has been reviewed and credit pulled. AUS is the automated system that evaluates your credit, income, and assets against program guidelines in minutes — it's important because it gives an early, data-driven read on whether your file fits before it ever reaches a human underwriter. Pre-approvals can vary in strength depending on how much has been verified — from a basic AUS-based approval to a fully underwritten pre-approval where your income, assets, and credit have already been reviewed by an underwriter, giving you the strongest negotiating position.

Go shopping for a house & get under contract

Now that you know how much you're approved for, connect with a REALTOR® and start shopping for a home — we also have recommended realtors we're happy to connect you with. Once you find the right home and get it under contract, everyone involved (loan officer, title company, REALTOR®, seller) gets a copy of the signed purchase contract, and the file is submitted to the lender.

Initial loan disclosure package sent

Your loan estimate and state-specific disclosures are sent for signature — review carefully and sign to proceed.

Appraisal ordered

Typically the longest part of the process, so it's started early while you work on document requests. An appraisal is an independent, licensed assessment of the home's market value, confirming the property supports the loan amount.

Submitted to underwriting

Once the file is complete and disclosures signed, it goes to the underwriter for guideline review. Underwriting is the process of verifying your documents, credit, and the property against program guidelines before final approval.

Initial underwriting approval

The underwriter grants an initial approval with a list of conditions — you're now "conditionally approved."

Conditions submitted

Your loan officer uploads all your satisfied conditions to the underwriter for final review.

Final UW approval — "clear to close"

Your loan is approved! Now everyone coordinates final numbers and a signing time.

Final CD / settlement statement received

Title issues your final Closing Disclosure showing your exact cash-to-close figure — plan ahead for your wire or cashier's check. See the Closing Costs breakdown in Getting Started for what makes up this total.

Loan closed / funded

Welcome to your new home!

Pre-approval vs. underwriting approval vs. final approval

Pre-Approval

An initial review based on your application, credit pull, and AUS findings — strong enough to shop for homes with confidence, but not yet a full underwriting sign-off.

Underwriting Approval

A human underwriter reviews your full file against program guidelines and issues an approval with a list of conditions to satisfy — you're "conditionally approved."

Final Approval — Clear to Close

All conditions have been satisfied and signed off — your loan is fully approved and ready to schedule closing.

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06Apply Now

Overview

Start the full 1003 loan application — best if you have a 640+ score, 2-year work history, and no recent credit marks.

The 1003 is the official Uniform Residential Loan Application — it collects your income, employment, assets, debts, and the property details so your file can be reviewed for pre-approval.

Best fit if you have:

Credit score of 640 or higher
2-year work history
No recent credit marks (collections, charge-offs, or late payments in the past 2 years)

Start your 1003 application

The secure application opens in a new tab.

Apply Now →

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07Inquiry Form

Overview

A short intake for scores below 640, shorter work history, or recent credit issues — so we can map out your path first.

The Inquiry Form is a short intake that lets me review where you are before a full application — so we can decide whether to move forward with the 1003 now or map out steps to get you qualified first.

Best fit if you have:

Credit score below 640
Less than 2 years of work history
Recent credit issues (collections, charge-offs, or late payments)

Start your Inquiry Form

The form opens in a new tab.

Inquiry Form →

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08Commercial

Overview

Loans for business-purpose property — 5+ unit multifamily, office, retail, industrial, and mixed-use.

Conventional commercial (700+ credit) and DSCR commercial (620–680+)
SBA 504 and 7(a) for owner-occupied business property
Bridge and hard money for fast-moving or complex deals

Commercial property is a building used for business purposes — office space, retail centers, warehouses, multifamily buildings with 5+ units, or mixed-use property. These loans are typically underwritten around the property's income and the borrower's business, rather than personal income alone.

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09Blog

Overview

Practical ways to save money on your mortgage.

Buying down your rate with discount points
Improving your credit score before you apply

A few practical ways to save money on your mortgage.

▸Buy down your rate with discount points

Discount points let you prepay interest upfront in exchange for a lower rate for the life of the loan. Each point typically costs 1% of your loan amount and can lower your rate by a fraction of a percentage point, though the exact amount varies by lender and market conditions.

Whether it's worth it comes down to a break-even calculation: how many months of lower payments does it take to recoup what you paid upfront? If you plan to stay in the home well beyond that break-even point, buying points can save real money over the life of the loan. If you expect to sell or refinance sooner, the upfront cost may not pay off.

Ask your loan officer for a side-by-side comparison of your specific loan with and without points so you can see your own break-even point.

▸Improve your credit score before you apply

Your credit score is one of the biggest levers on your rate and loan options, and small improvements before you apply can make a real difference.

Pay down revolving balances (credit cards) — utilization has an outsized impact on your score
Avoid opening new credit accounts or making large purchases before closing
Check your credit report for errors and dispute any inaccuracies
Keep older accounts open — length of credit history matters
Become an authorized user on a family member's well-established account if you're building credit

Your credit can be pulled more than once during the process, so keep your financial picture stable from application through closing.

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10Understanding DTI (debt-to-income)

Overview

How lenders compare your monthly debts to your income — one of the most important numbers in your approval.

Typical limits by program (most land between 41% and 50%)
Collections count at 5% of the balance; student loans at 0.5% of the balance
Factors that can help you qualify with a higher DTI

Your debt-to-income ratio compares your monthly debt obligations to your gross monthly income, and it's one of the most important numbers in your loan approval.

DTI = (Total Monthly Debt Payments ÷ Gross Monthly Income) × 100

▸Front-end vs. back-end DTI

Front-end (housing ratio): your proposed housing payment (PITIA) divided by gross monthly income. PITIA = Principal, Interest, Taxes, Insurance, Association dues, and mortgage insurance if required.

Back-end (total debt ratio): the ratio most lenders qualify you on — PITIA plus all other recurring monthly debts such as credit cards, auto loans, student loans, and other obligations with 10+ months remaining.

▸Typical DTI limits by loan type

Program	Front-end	Back-end
Conventional	~28–36%	Up to 45–50% with strong compensating factors
FHA	~31%	~43%, up to 50%+ with compensating factors
VA	No hard limit	~41% guideline, higher with residual income
USDA	~29%	~41%

▸DTI ratings at a glance

DTI ratio	Rating	Typical impact
0–20%	Excellent	Very strong profile, plenty of room for new debt
21–35%	Good	Healthy — most programs approve easily
36–43%	Acceptable	Still qualifies for many programs with strong factors
44–49%	High	Possible depending on program, credit, reserves
50%+	Very high	Harder for conventional; some FHA allows with compensating factors

▸How collections & student loans count toward DTI

Some debts count toward your DTI even when you aren't making a monthly payment on them. In those cases, a percentage of the balance is used as the monthly payment:

Debt type	Monthly payment counted	Example
Collections	5% of the outstanding collection balance	$4,000 in collections → $200/month added to DTI
Student loans	0.5% (half a point) of the outstanding balance	$30,000 balance → $150/month added to DTI

Applies when no monthly payment is reported (deferred, forbearance, $0 income-based payment, or unpaid collections). Exact rules vary by loan program and balance thresholds — paying off or settling collections before applying can lower your DTI.

▸What can push DTI higher

Strong reserves (months of PITIA in the bank)
High credit score
Low LTV / large down payment
Residual income (especially for VA loans)
Minimal payment shock
Additional income not fully documented (grossed up)

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11Glossary & definitions

Overview

Plain-English definitions for the mortgage terms used throughout this site.

Quick definitions for the terms used throughout this guide.

LTV (Loan-to-Value): The percentage of the home's value you're borrowing. A $270,000 loan on a $300,000 home is 90% LTV — the remaining 10% is your down payment or equity. Lower LTV generally means better rates and easier approval.
DTI (Debt-to-Income ratio): Your total monthly debt payments divided by your gross monthly income, expressed as a percentage. Lenders use it to gauge how much new payment you can comfortably take on.
PITIA: Principal, Interest, Taxes, Insurance, and Association dues (if applicable) — the full monthly housing payment lenders qualify you on, not just principal and interest.
PMI vs. MIP: PMI (Private Mortgage Insurance) applies to conventional loans with less than 20% down and cancels once you reach 20% equity. MIP (Mortgage Insurance Premium) applies to FHA loans and often lasts for the life of the loan.
HELOC: Home Equity Line of Credit — a revolving line of credit secured by your home's equity, similar to a credit card with your house as collateral.
Escrow: An account your lender uses to collect and pay your property taxes and homeowners insurance on your behalf, usually as part of your monthly payment.
Underwriting: The lender's process of verifying your documents, credit, and the property to confirm the loan meets program guidelines before final approval.
Appraisal: An independent, licensed assessment of the home's market value, used by the lender to confirm the property supports the loan amount.
Clear to close: The stage where underwriting has signed off on every condition and the loan is fully approved and ready for the closing appointment.
Conventional loan: A mortgage that follows Fannie Mae / Freddie Mac guidelines and isn't backed by a government agency. Popular with borrowers who have solid credit and stable income.
FHA loan: A mortgage insured by the Federal Housing Administration, built for lower credit scores and smaller down payments. Requires mortgage insurance (MIP) that often lasts the life of the loan.
VA loan: A mortgage backed by the Department of Veterans Affairs for eligible veterans, active-duty service members, and some National Guard/Reserve members — often with no down payment required.
USDA loan: A mortgage backed by the USDA offering 100% financing for eligible buyers in designated rural and suburban areas, subject to income limits.
DSCR (Debt-Service Coverage Ratio) loan: An investor loan that qualifies you based on the property's rental income rather than your personal income. A DSCR of 1.00 means rent exactly covers the mortgage payment; higher is stronger.
Non-QM (Non-Qualified Mortgage) loan: A loan that doesn't meet standard agency guidelines, allowing alternative documentation like bank statements, 1099s, or a P&L statement instead of tax returns — common for self-employed borrowers.

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Contact Us

Overview

Questions about buying, refinancing, or investing? Send a message and expect a reply within one business day.

Have a question about buying, refinancing, or investing? Send a message and I'll get back to you within one business day.

Tchina Diallo

Licensed Mortgage Loan Originator
NMLS #2722174

NEXA Mortgage, LLC — NMLS #1660690

Phone: 901-295-9585
Email: tdiallo@myhousemath.com

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Privacy Policy

Effective date: September 30, 2026

This Privacy Policy explains how Tchina Diallo, doing business as My House Math ("we," "us," or "our"), collects, uses, and protects the information you provide through https://myhousemath.com/ (the "Website") and through our text messaging program.

Information we collect

We collect information you choose to give us, such as your name, email address, phone number, and any details you include in a message or inquiry. We may also collect basic technical information automatically, such as browser type, device type, and pages visited, to help the Website function and improve.

How we use your information

To respond to your questions and requests about home financing
To schedule and confirm appointments and provide updates on your inquiry or loan process
To send text messages you have consented to receive
To send information about mortgage programs, if you have opted in
To operate, maintain, and improve the Website and comply with legal and regulatory requirements

SMS / text messaging

If you opt in to receive text messages, we use your mobile number only to send the messages you consented to. Message frequency varies. Message & data rates may apply. Reply STOP to opt out at any time or HELP for assistance.

No mobile information will be shared with third parties/affiliates for marketing/promotional purposes. Information sharing to subcontractors in support services, such as customer service is permitted. All other use case categories exclude text messaging originator opt-in data and consent; this information will not be shared with any third parties.

How we share information

We share information only as needed to provide the services you request (for example, with service providers who help us operate our systems or deliver customer service), or when required by law or regulation. Service providers are required to protect your information and use it only for the services they perform for us.

Cookies

The Website may use cookies or similar technologies to remember preferences and understand how the Website is used. You can disable cookies in your browser settings; some features may not work as intended.

Data security

We use reasonable administrative, technical, and physical safeguards to protect your information. No method of transmission over the internet is completely secure, so we cannot guarantee absolute security.

Your choices

You may opt out of text messages at any time by replying STOP. You may unsubscribe from emails using the link in any email, or contact us to request access to, correction of, or deletion of your information, subject to legal and regulatory record-keeping requirements.

Children's privacy

The Website is not intended for individuals under 18, and we do not knowingly collect information from children.

Changes to this policy

We may update this Privacy Policy from time to time. Changes are effective when posted on this page with an updated effective date.

Contact us

Tchina Diallo — My House Math
Email: tdiallo@myhousemath.com
Phone: 901-295-9585

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Terms of Service

Effective date: September 30, 2026

These Terms of Service govern your use of https://myhousemath.com/ (the "Website"), owned and managed by Tchina Diallo, doing business as My House Math, and your participation in our text messaging program. By using the Website or opting in to text messages, you agree to these terms.

SMS Terms & Conditions — My House Math Text Messaging Program

When you opt in, you may receive text messages from Tchina Diallo (My House Math) related to your home financing inquiry, including responses to your questions, appointment reminders and scheduling, updates on your application or loan process, and — if you consented to marketing messages — information about mortgage programs and home-buying resources.

You can cancel the SMS service at any time by replying STOP to any message. Upon sending STOP, we will confirm your unsubscribe status via SMS. Following this confirmation, you will no longer receive SMS messages from us. To rejoin, complete the opt-in process again.

If you experience issues with the messaging program, reply with the keyword HELP for more assistance, or reach out directly to tdiallo@myhousemath.com.

Carriers are not liable for delayed or undelivered messages.

As always, message and data rates may apply for messages sent to you from us and to us from you. Message frequency varies. For questions about your text plan or data plan, contact your wireless provider.

For privacy-related inquiries, please refer to our privacy policy: https://myhousemath.com/#privacy-policy.

Use of the Website

The content on this Website is for general informational purposes only and is not an offer to lend, a commitment to make a loan, or financial, legal, or tax advice. Loan programs, rates, and terms are subject to change without notice and are subject to credit and property approval and underwriting guidelines. Not all applicants will qualify.

Links to other websites

The Website may link to third-party websites, such as secure loan application portals. We are not responsible for the content or practices of those websites.

Limitation of liability

The Website is provided "as is." To the fullest extent permitted by law, we are not liable for any damages arising from your use of the Website or reliance on its content.

Changes to these terms

We may update these Terms of Service from time to time. Changes are effective when posted on this page with an updated effective date.

Contact us

Tchina Diallo — My House Math
Email: tdiallo@myhousemath.com
Phone: 901-295-9585