FAQ’s, Newsletters. and helpful articles.
Homeownership is a major step, and a big investment. Whether you’re buying your first home or just getting back into the market, make sure you’re equipped to make smart decisions at every step of the journey. Buying a house is an exciting milestone in your financial life and HyperSmart Home Loans is here to assist you with your questions.
Frequently Asked Questions
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What loan types and scenarios can HyperSmart handle?
What is the difference between a conventional loan and a jumbo loan?
A jumbo loan is a mortgage that exceeds the conventional loan limits set by Fannie Mae and Freddie Mac.
Fannie Mae and Freddie Mac are both government-sponsored enterprises chartered by Congress to stimulate homeownership and provide liquidity to the mortgage market established in 1938 and 1970 respectively. They set the rules and ultimately hold all conventional loans.
The current loan limits vary by location and county. In 2022, many of the larger counties have the loan limit of $647,250. Our mortgage advisors will review your specific scenario for loan limits as part of your consultation.
Do all mortgage loans require tax returns and paystubs for income qualification?
Absolutely not. Many HyperSmart loan products are tailored for these scenarios and do not require tax returns or paystubs. This includes jumbo loans for primary use, second home, and investor properties. HyperSmart even has investor loan products with no income qualification at all.
Do all mortgage loans require perfect credit?
Hypersmart has loan products down to 580 FICO (including certain Jumbo loans). Many self-employed, professional, and traditional clients incur life circumstances that may impact their credit such as divorce, business separation, natural disasters, and medical issues. These unique events are often short term but cause long term issues on credit profiles. HyperSmart understands these life events which is why our tenured mortgage advisors build creative financing solutions to limit barriers in the home financing process.
Are you a direct lender?
HyperSmart is an approved direct seller/servicer with Fannie Mae and Freddie Mac. This prestigious and significant designation allows HyperSmart to deliver loans directly to Fannie Mae and Freddie Mac, and to service loans for these agencies.
HyperSmart is an approved direct issuer with the Ginnie Mae. Ginnie Mae is a government corporation within the U.S. Department of Housing and Urban Development. It was established in 1968 when Fannie Mae was privatized. Its mission is to expand funding for mortgages that are insured or guaranteed by other federal agencies, such as loans back by the FHA and VA.
HyperSmart is a direct Jumbo and Non-QM lender with fully delegated underwriting authority with the leading Jumbo and Non-QM loan platforms on wall-street and certain national and global banks.
Hypersmart goes through rigorous and ongoing audit, financial review and operational reporting to obtain maintain these designations.
This structure allows HyperSmart to quickly and efficiently close even the most difficult and unique loans with peace of mind for clients, realtors and transaction parties.
What is a Non-QM loan?
A Non-QM loan, or a non-qualified mortgage, is a type of mortgage loan that allows you to qualify based on alternative methods, instead of the traditional income verification required for most loans. Common examples include using bank statements or using your assets as income.
HyperSmart is a direct Non-Qm lender. We underwrite, close and fund Non-Qm loans in-house. Our founder Ali Hedayatifar was independently named by the periodical Scotsman Guide as the #54 top Non-Qm loan originator in America for 2021. In 2020 and 2021, Ali was named in the top 1% of loan originations nationwide amongst two national periodicals. We are Non-Qm specialists.
Newsletters & Articles
June 20, 2022 Market Review
Inventory issues continue to impact home sales and rental home prices while Fed Chair Powell said...
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11451 Katy Freeway, Suite 360,
Houston, TX 77079
CalCon Mutual Mortgage LLC, dba HyperSmart Home Loans is an Equal Housing Lender NMLS #46375; 3838 Camino Del Rio North Suite 305, San Diego, CA 92108. Corporate phone (512) 888-9348. All products are not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms and conditions are subject to change without notice. For business and professional use only. Not for consumer distribution. Not intended for legal or financial advice. Consult your own professionals if such advice is sought.