The mortgage world isn’t one-size-fits-all—and guessing costs clients money. In this episode, lender Michele Town (30+ years in the business, known as “the gal who gets it done”) breaks down today’s loan landscape in plain English so agents and buyers can make smarter, faster decisions.
We cover the real differences between conventional (Fannie/Freddie), FHA, VA, USDA, jumbo, portfolio, and non-QM loans—plus when adjustable-rate mortgages (ARMs) actually make sense and how private (“hard”) money/bridge loans solve short-term problems. Michele also demystifies PMI vs. FHA MIP, manual underwriting, recasting (lower your payment without refinancing), and practical tactics like paying down a small credit card to unlock a higher score. Bottom line: there’s almost always a path to homeownership if you match the person to the product.
How to triage borrowers into the right lane: conventional vs. government (FHA/VA/USDA) vs. non-QM/portfolio
Why VA can beat conventional—even with 20% down (no monthly MI; potential lower rate)
When USDA wins (0–2% financed, rural, income-restricted) and the key “gotchas”
FHA’s sweet spot for lower FICO buyers—and the streamline refi advantage
ARMs without the fear: when a 7/10-year fixed period is the smarter play
Jumbo realities: tighter DTI, reserve rules, and timing
Portfolio & non-QM for self-employed or “outside the box” files (asset-depletion, using the stronger spouse’s score, etc.)
Private/bridge money use cases (timing gaps, NOD rescue, deferred payments—what that really means)
Recasting explained: apply a lump sum and re-amortize to lower the payment without changing your rate
Why agents should loop in a lender early to compete with cash and write stronger offers (pre-approval > pre-qual)
Agents who want to speak confidently about financing (without playing lender), first-time buyers who need options, and self-employed borrowers who’ve been told “no” by cookie-cutter guidelines.
Email: michele@micheletown.com
Phone: (949) 510-9062
(“Think yes.” If there’s a path, she’ll find it.)
If this helped, share it with one agent or buyer today.
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