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
Step-by-Step Guide to the VA Loan Process
6 Easy Steps to a VA Loan
For many borrowers, applying for any kind of mortgage may seem daunting.
But, when broken down, this rundown of 6 steps to getting a VA loan is easy to understand.
1. Select a VA-approved Lender
On the surface, it might appear that any lender will do. However, if you dig a little deeper, you may discover that not all lenders are the same. First, only lenders approved by the U.S. Department of Veterans Affairs can originate VA mortgages. Secondly, some lenders focus primarily on conventional loans, while others concentrate almost exclusively on the VA loan program for military clients. Using a VA specialty lender with extensive knowledge about the VA loan process vs. a lender who only funds a few VA mortgages a year may translate into an easier and quicker loan process. To connect with a VA specialty lender, please click here.
2. Obtain a Certificate of Eligibility (COE)
An experienced lender can help you obtain what’s called a Certificate of Eligibility (COE). The COE will prove that you meet initial eligibility standards for VA loan benefits. It will also let the lender know how much entitlement you can receive, which is the amount the Department of Veterans Affairs will guarantee on your VA loan. To get your COE, you’ll need to give your lender a bit of information about your military service. Usually, a COE can be acquired online instantly through a lender’s portal or through the eBenefits portal on the va.gov website. Those servicemembers or surviving spouses whose COEs cannot be obtained online will have to get theirs by mail. A VA lender or the VA can help direct you to the right resource for your specific situation.
3. Pre-Qualify for Your Loan Amount
Pre-qualifying is important, but not required. By choosing to complete this step you can save some time and potential surprises later in the process. To pre-qualify for your loan amount, you’ll have a candid conversation with your VA loan professional about your income, credit history, employment, marital status and other factors. Giving your lender complete details during the pre-qualifying step can help prevent surprises later during underwriting. The pre-qualifying step can also reveal areas that need improvement before you can be approved, such as credit or debt-to-income ratio. While a prequalification letter gives you a ballpark price range for house hunting, it does not guarantee that you will be approved for a loan, and your lender will later have to verify the information you provide. To get a loan requires later final approval by underwriting once all documents have been received and reviewed (see Step 5).
4. Go House Hunting & Find Home
The fourth step is usually one borrowers enjoy because they get to look at homes they might consider buying. Working with a real estate professional who specializes in the VA process can help you get the most out of your benefits. This is true because the VA allows certain fees and costs to be paid by the seller (if both you and the seller agree), and a knowledgeable agent will know this and help you negotiate seller-paid fees. Once you’ve got a signed purchase agreement, you can move forward in the VA loan process.
5. Lender Processes Application
& Orders VA Appraisal
A signed purchase contract is the document you’ll need to finish your initial application. Once your lender has the contract, they will order the VA appraisal. Here again, not just any appraiser will do. Only a professional who is certified to perform appraisals to VA standards can evaluate the home being considered for VA financing. The VA appraiser will make sure the price you’ve agreed to pay for the home corresponds with the current value. Another very important part of the VA appraisal is to inspect the home to make sure it meets the VA minimum property requirements (VA MPRs). However, the VA appraisal does not take the place of a home inspection, which focuses on code violations, defects and the condition of the property. While many borrowers have heard horror stories about the length of the VA appraisal process, the Department of Veterans Affairs gives the appraisers 10 days from order to completion barring extenuating circumstances. While you’re waiting for appraisal documents, you’ll be busy submitting documents of your own to your VA-approved lender to show you have the ability to qualify for the loan. If the home passes appraisal for value and VA minimum property requirements, and it’s verified by the lender that you qualify for your loan, the underwriter will give his or her stamp of approval.
6. Close on Your Loan and Move In
After being approved by the underwriter, all that is left to do is close and move in. During closing, the property legally transfers from the former owner to you. Closing is a step that requires you to sign documents that confirm you understand and agree to the terms of the loan. You will need to provide proof of homeowners insurance and, if required, pay closing costs. Once you’ve signed all your closing documents, you’ll get the keys to your new home.
While these steps may not happen in the order above or be a required part (such as prequalification)*, they represent the typical process for the applicant in obtaining a VA purchase loan. Your lender may need to take other steps. For more information about VA loans, contact an experienced VA-approved lender.
My best advice to you is to call Bill Rapp, the Mortgage Viking, today to discuss your options 281-222-0433.
🚀 Why Mortgage Loan Officers Should Learn Commercial Lending 💰
🚀 Why Mortgage Loan Officers Should Learn Commercial Lending 💰
🏢 Commercial Lending: The Opportunity Mortgage LOs Overlook 🚀
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Why Every Mortgage LO Should Understand Commercial Real Estate Financing
Commercial real estate financing for mortgage loan officers is more than an additional lending specialty. It is an opportunity to expand client relationships, understand more financing solutions, and potentially develop new revenue streams.
Most residential mortgage loan officers spend their careers helping clients purchase homes, refinance mortgages, or access home equity. Those services are essential, but they represent only part of the lending market.
What happens when your client wants to purchase a medical office building, finance a warehouse, refinance an apartment complex, or acquire a retail center?
If you only understand residential mortgages, you may not recognize the financing opportunity.
That is why every mortgage loan officer should develop a working knowledge of commercial real estate lending.
At Medallion Funds, we believe mortgage professionals can create stronger businesses by understanding both residential and commercial financing.
1. Commercial Lending Expands Your Mortgage Business
Traditional residential mortgage lending focuses primarily on individual borrowers and residential properties.
Commercial real estate financing introduces an entirely different set of opportunities.
Commercial financing may include:
·Office buildings and medical facilities
·Retail shopping centers and restaurants
·Industrial warehouses and flex properties
·Apartment buildings and multifamily investments
·Owner-occupied business properties
·Mixed-use developments
·Commercial construction and renovation projects
·Investment property acquisitions and refinancing
For mortgage loan officers, understanding these transactions creates opportunities to serve clients beyond their primary residences.
The same person purchasing a home today could become a commercial property investor or business owner tomorrow.
Developing commercial mortgage knowledge helps you recognize those opportunities before the client looks elsewhere.
2. Your Existing Clients May Already Need Commercial Loans
One of the biggest misconceptions about commercial mortgage lending is that you need an entirely new client base.
In reality, commercial financing opportunities may already exist within your residential mortgage relationships.
Consider these examples.
Doctors and Dentists
A physician purchasing a primary residence may eventually want to acquire a medical office building.
A dentist might decide to purchase the building currently occupied by their practice rather than continue leasing.
Depending on eligibility, SBA financing or conventional owner-occupied commercial financing may provide solutions.
Small Business Owners
Your self-employed mortgage clients may also own restaurants, service companies, retail businesses, or industrial operations.
These clients may need financing to purchase business real estate, expand operations, or refinance existing commercial debt.
Real Estate Investors
A client who begins with one rental property may eventually acquire a portfolio of single-family rentals or a five-unit apartment building.
As their investments expand, their financing requirements may shift from conventional residential loans to DSCR, portfolio, or commercial mortgage programs.
High-Net-Worth Borrowers
Affluent residential mortgage clients may also own investment properties, development projects, or commercial buildings.
Understanding commercial financing allows loan officers to identify these potential needs and coordinate with qualified lending specialists.
The opportunity is not necessarily finding more clients. It may be identifying additional financing needs among the clients you already know.
3. Understand the Five Major Commercial Financing Options
Mortgage loan officers do not need to become commercial underwriting experts overnight.
However, they should understand the primary commercial lending categories.
SBA 7(a) and SBA 504 Loans
SBA financing can help eligible small businesses purchase or improve owner-occupied commercial real estate.
SBA 7(a) loans may support real estate, equipment, working capital, and qualifying business acquisitions, subject to program rules.
SBA 504 financing is commonly used for qualifying fixed assets, including owner-occupied buildings and major equipment.
These programs can be particularly relevant to doctors, dentists, manufacturers, and business owners.
Conventional Commercial Mortgages
Banks, credit unions, and other lenders provide commercial mortgages for qualifying income-producing and owner-occupied properties.
Underwriting typically considers property cash flow, borrower financial strength, collateral value, liquidity, and repayment capacity.
DSCR and Investment Property Loans
Debt Service Coverage Ratio, or DSCR, measures how effectively qualifying property income covers required debt payments.
For commercial real estate, lenders often calculate DSCR using net operating income divided by annual debt service.
Some residential investment property DSCR programs use different qualifying calculations.
Understanding the distinction helps mortgage loan officers recognize investor financing opportunities.
Commercial Bridge Loans
Bridge loans provide shorter-term financing for certain acquisitions, renovations, lease-up strategies, or transitional properties.
They may offer flexibility when conventional financing is unavailable, but borrowers must understand the higher costs, maturity dates, and refinancing risks that can accompany these loans.
Commercial Construction Loans
Commercial construction financing can support eligible ground-up development and major renovation projects.
These loans commonly involve construction budgets, project feasibility, draw schedules, borrower equity, and completion requirements.
Knowing which financing category may fit a client's transaction is often the first step toward creating value.
4. Commercial Loan Underwriting Is Different From Residential Lending
Residential mortgage underwriting typically focuses heavily on the borrower's income, credit, assets, debt-to-income ratio, and property value.
Commercial underwriting often adds another dimension: the property's ability to generate sufficient cash flow.
Important commercial lending concepts include:
Loan-to-Value (LTV): The loan amount compared with the property's appraised or accepted value.
Debt Service Coverage Ratio (DSCR): The relationship between qualifying property income and required debt payments.
Net Operating Income (NOI): Property operating income after ordinary operating expenses, but before debt service and certain other items.
Debt Yield: NOI divided by the loan amount, expressed as a percentage.
Loan Term vs. Amortization: A commercial loan may amortize over 25 years but mature in five years, leaving a substantial balloon payment.
Commercial lenders may also evaluate tenant quality, lease expiration schedules, property condition, environmental risks, sponsor experience, and liquidity.
Understanding these fundamentals helps mortgage loan officers ask better questions and refer commercial opportunities appropriately.
5. Commercial Financing Can Strengthen Referral Relationships
Real estate agents, CPAs, financial advisors, attorneys, and business owners frequently encounter commercial financing questions.
A mortgage loan officer who understands both residential and commercial lending can become a more useful referral resource.
For example:
·A residential real estate agent may have a client buying a small apartment building.
·A CPA may work with a business owner considering a commercial property acquisition.
·A financial advisor may have an investor seeking to refinance commercial assets.
·A builder may need a construction financing resource.
·A dentist may need financing for a new practice location.
When you understand the financing possibilities, you can help connect these professionals with the right resources.
This can support deeper, more durable professional relationships.
6. Commercial Loans May Create Additional Income Opportunities
Commercial mortgages frequently involve larger loan balances than individual residential mortgages.
For example, consider a residential mortgage loan of $400,000 compared with a commercial acquisition loan of $2,000,000.
The commercial loan is five times larger.
However, a larger loan does not automatically mean five times the compensation.
Commercial financing compensation varies based on the lender, transaction structure, brokerage agreement, licensing requirements, and applicable law.
Some mortgage professionals may originate eligible commercial loans directly. Others may participate through an authorized referral or collaboration arrangement.
The appropriate structure depends on the professional's experience, licensing, company policies, and the transaction.
The real opportunity is developing another potential business channel while maintaining appropriate compliance and client service.
7. Real-World Example: A Dentist Who Wants to Own the Building
Imagine you are a residential mortgage loan officer who recently helped a dentist purchase a $750,000 home.
Six months later, the dentist mentions paying $12,000 per month to lease office space.
The dentist is considering purchasing a $2 million medical office property.
A residential-only loan officer might simply recommend contacting a local bank.
But an LO familiar with commercial financing knows to ask several important questions:
·Will the dental practice occupy the required percentage of the property?
·What is the business's operating history and cash flow?
·How much equity is available?
·Would SBA 7(a), SBA 504, or conventional financing be appropriate?
·Does the dentist plan to occupy the property long term?
The answers help determine which financing programs may be worth evaluating.
Instead of losing the opportunity, the loan officer can introduce an appropriate commercial financing specialist or participate where authorized.
The client receives more comprehensive guidance, and the loan officer strengthens an existing relationship.
8. How Residential Mortgage LOs Can Start Learning Commercial Lending
You do not need to abandon residential mortgages to explore commercial financing.
Start with a practical approach.
Step 1: Learn the terminology. Understand NOI, DSCR, LTV, debt yield, balloon payments, and amortization.
Step 2: Identify your existing client opportunities. Look for business owners, doctors, dentists, and real estate investors.
Step 3: Understand the major programs. Become familiar with SBA, conventional commercial, DSCR, bridge, and construction financing.
Step 4: Build commercial lending relationships. Work with experienced capital advisors and commercial lending specialists.
Step 5: Understand compliance and compensation. Confirm that your licensing, company policies, and applicable laws permit your intended role.
Step 6: Expand gradually. Begin by identifying potential transactions and helping clients reach qualified professionals.
The objective is not to become an expert in every commercial property type.
It is to become knowledgeable enough to recognize opportunities and guide clients toward appropriate financing solutions.
9. Why Medallion Funds Is Relevant to Mortgage Loan Officers
At Medallion Funds, we work across residential and commercial financing solutions.
Our approach emphasizes lender relationships, financing alternatives, underwriting knowledge, and collaboration.
Mortgage professionals exploring commercial lending may benefit from learning how to evaluate transactions involving:
·Residential investment properties
·Small multifamily buildings
·Owner-occupied commercial real estate
·Medical and dental offices
·Retail and industrial properties
·Commercial acquisitions and refinances
·Business-purpose and construction financing
Commercial lending is not a substitute for a successful residential mortgage business.
It is a complementary area of expertise that may help mortgage professionals serve a broader range of clients.
Final Thoughts: Become More Than a Residential Mortgage Resource
Mortgage loan officers operate in a competitive environment.
Interest rates change. Housing markets fluctuate. Borrower demand shifts.
Developing commercial real estate financing knowledge can help mortgage professionals diversify their expertise, deepen referral relationships, and identify additional business opportunities.
You do not need to originate every commercial loan yourself.
You need to understand enough to recognize the opportunity and know whom to involve.
The mortgage professionals who understand both residential and commercial financing may be better positioned to serve clients throughout their real estate investment journey.
Connect With Bill Rapp, CCIM
I'm Bill Rapp, CCIM, Capital Advisor with Medallion Funds.
If you're a mortgage loan officer interested in learning more about commercial lending opportunities, lender resources, or expanding your mortgage business, let's connect.
Bill Rapp
Partner & Director of Capital Advisory | Medallion Funds
Commercial Lending Nationwide
Residential Lending in AL, CA, CO, NV & TXBottom of Form
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