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Best Down Payment Assistance Programs for First-Time Homebuyers


One of the biggest hurdles for many first-time homebuyers is getting that down payment together. We understand, especially if you’re trying to scrape together 20% of a home’s purchase price (insert large gulp here).

There are two things many first-time homebuyers don’t realize, though:

  • You generally don’t have to put a full 20% down on a home.
  • Tons of down payment assistance programs are ready, willing, and able to help you out.

How Do Down Payment Assistance Programs Work?

Before exploring specific programs, it’s important to understand how down payment assistance works.

Down payment assistance (DPA) programs are designed to help qualified homebuyers reduce the upfront costs of purchasing a home. Depending on the program, assistance may come in the form of grants, forgivable loans, repayable second mortgages, lender-sponsored assistance, or low-down-payment mortgage options.

Some programs help cover your down payment, while others can also help with eligible closing costs. Because every program has different eligibility requirements and repayment terms, working with an experienced Loan Advisor can help you identify the solutions that best fit your financial goals.

What Is Down Payment Assistance (DPA)?

Down payment assistance (DPA) refers to programs designed to help qualified homebuyers reduce the upfront costs of purchasing a home. Depending on the program, assistance may come in the form of grants, forgivable loans, repayable second mortgages, lender-sponsored assistance, or low-down-payment mortgage options.

Some programs help cover your down payment, while others can also be used toward eligible closing costs. Because every program works differently, it’s important to understand how each option fits your financial goals and homeownership plans.

One of the biggest misconceptions about down payment assistance is that there is only one type of program. In reality, there are hundreds of local, state, national, and lender-sponsored programs available throughout the country. Some are based on household income, while others consider factors such as your location, loan type, occupation, or whether you’re purchasing your first home.

The good news? You don’t have to research every program on your own. Working with an experienced Loan Advisor can help you understand which options may be available based on your goals and qualifications.

Explore Down Payment Assistance Programs Available Through APM

American Pacific Mortgage offers access to a wide variety of down payment assistance solutions, from proprietary programs developed by APM to nationally recognized assistance programs and affordable conventional financing options.

Whether you’re looking for help with your down payment, closing costs, or both, your local APM Loan Advisor can compare available programs and help identify the solution that best fits your financial situation and homeownership goals.

Below are some of the most popular down payment assistance programs available through APM.

Program

Best For

Assistance Type

Pathway DPA

Buyers looking for an APM-exclusive solution

Repayable second mortgage

1% Home

Buyers with limited savings

Lender-sponsored assistance

Chenoa Fund

Qualified buyers seeking flexible assistance options

Forgivable or repayable assistance

Within Reach

FHA borrowers needing help with upfront costs

Repayable second mortgage

Lakeview National

Qualified conventional borrowers

Down payment and closing cost assistance

HomeReady®

Eligible buyers seeking affordable conventional financing

Low down payment mortgage

Home Possible®

Qualified buyers looking for flexible conventional financing

Low down payment mortgage

Pathway DPA

Best for: Qualified buyers looking for an APM-exclusive down payment assistance solution.

Highlights:

  • Available with APM’s 30-year fixed FHA loan
  • Offers 3.5% or 5% down payment assistance
  • Can be applied toward your required down payment and eligible closing costs
  • Structured as a 10-year repayable second mortgage
  • Available exclusively through American Pacific Mortgage

Pathway DPA gives buyers another option for reducing upfront homebuying costs while benefiting from APM’s personalized guidance.

1% Home

Best for: Qualified buyers who need additional help covering their down payment.

Highlights:

  • Provides lender-sponsored down payment assistance of up to 2% of the home’s purchase price (up to $4,500)
  • Can often be combined with eligible down payment assistance programs
  • Helps reduce the amount of cash needed at closing
  • Loan limits apply

For buyers with limited savings, 1% Home can provide another path toward homeownership by helping lower upfront costs while maximizing available assistance opportunities.

Chenoa Fund

Best for: Qualified homebuyers seeking flexible national down payment assistance options.

Highlights:

  • Available to eligible low- and moderate-income borrowers
  • May provide forgivable or repayable down payment assistance
  • Assistance may also be used toward eligible closing costs
  • Available in many markets nationwide

The Chenoa Fund is one of the country’s best-known down payment assistance programs and can help qualified buyers bridge the gap between their available savings and the funds needed to purchase a home.

Within Reach for FHA loans

Best for: Qualified FHA borrowers looking to reduce upfront homebuying expenses.

Highlights:

  • Designed for eligible FHA borrowers
  • Provides low-interest down payment assistance
  • May also help cover eligible closing costs
  • Can reduce the amount of cash needed at closing

Within Reach helps qualified buyers access affordable financing by making the initial costs of purchasing a home more manageable.

Lakeview National

Best for: Qualified buyers looking for nationwide down payment assistance.

Highlights:

  • Available in many states nationwide
  • Offers assistance for eligible down payment and closing costs
  • Compatible with qualifying mortgage programs
  • Designed to expand access to homeownership

Lakeview National provides another option for buyers who qualify for down payment assistance and want additional flexibility when financing their home purchase.

Fannie Mae HomeReady®

Best for: Eligible buyers looking for an affordable conventional mortgage with a low down payment.

Highlights:

  • Conventional financing with as little as 3% down for qualified borrowers
  • Flexible income and underwriting guidelines
  • May be paired with eligible down payment assistance programs
  • Designed to expand access to affordable homeownership

HomeReady® combines low down payment requirements with flexible qualifying guidelines, making it a popular option for many first-time homebuyers.

Freddie Mac Home Possible®

Best for: Qualified buyers seeking a flexible conventional mortgage option with a low down payment.

Highlights

  • Conventional financing available with as little as 3% down for eligible borrowers
  • Flexible underwriting requirements
  • May be combined with eligible down payment assistance programs
  • Designed to support affordable homeownership

Home Possible® offers another affordable conventional financing solution for qualified buyers who may benefit from flexible qualifying requirements and low upfront costs.

Which Down Payment Assistance Program Is Right for You?

Every homebuyer’s financial situation is different, which means there isn’t a one-size-fits-all solution.

You may want to explore:

  • Pathway DPA if you’re looking for an APM-exclusive program paired with FHA financing.
  • 1% Home if you’re looking to supplement your down payment with lender-sponsored assistance.
  • Chenoa Fund if you qualify for national down payment assistance options.
  • Within Reach if you’re financing with an FHA loan and need additional help covering upfront costs.
  • Lakeview National if you’re purchasing with eligible conventional financing.
  • HomeReady® or Home Possible® if you’re looking for affordable conventional mortgage options with low down payment requirements.

An experienced APM Loan Advisor can help compare available programs and recommend solutions based on your financial goals, loan program, and property location.

Can You Combine Down Payment Assistance Programs?

Many homebuyers wonder whether they can combine multiple forms of down payment assistance.

In some cases, the answer is yes.

Certain lender-sponsored programs may be combined with eligible down payment assistance programs, while others cannot. Program guidelines vary depending on the loan type and assistance provider.

For example, APM’s 1% Home program may be combined with many eligible down payment assistance programs, helping qualified buyers further reduce the cash needed at closing. Your Loan Advisor can help determine which combinations may be available based on your financing scenario.

What Documents Will You Need?

Although documentation requirements vary by program, many down payment assistance applications require:

  • Government-issued identification
  • Income documentation
  • Asset statements
  • Purchase contract
  • Mortgage application
  • Homebuyer education certificate (when required)
  • Additional documentation requested by the assistance provider

Preparing these documents early can help streamline both your mortgage approval and your down payment assistance application.

Your Loan Advisor Can Help Compare Your Options

With so many down payment assistance programs available, it’s understandable if you’re unsure where to begin.

The good news is that you don’t have to navigate the options alone.

At American Pacific Mortgage, our Loan Advisors take the time to understand your goals, compare available programs, explain eligibility requirements, and help identify solutions that fit your financial situation. Whether you’re exploring an APM-exclusive program like Pathway DPA or 1% Home, or national options such as Chenoa Fund, Within Reach, Lakeview National, HomeReady®, or Home Possible®, we’re here to help you make an informed decision.

Connect with a local APM Loan Advisor today to explore the down payment assistance programs that may be available to you.

Frequently Asked Questions About Down Payment Assistance Programs

What are the best down payment assistance programs for first-time homebuyers?

The best program depends on your financial situation, loan type, and where you’re purchasing a home. American Pacific Mortgage offers access to a variety of options, including our in-house Pathway DPA, 1% Home, Chenoa Fund, Within Reach, Lakeview National, HomeReady®, and Home Possible®.

How do down payment assistance programs work?

Down payment assistance programs help qualified homebuyers reduce upfront costs through grants, lender-sponsored assistance, or second mortgage programs that can be used toward the down payment, closing costs, or both.

How do I apply for down payment assistance?

The process typically begins with speaking to an APM Loan Advisor. After reviewing your financial situation, they’ll help identify available programs, complete your mortgage pre-approval, and guide you through any program-specific application requirements.

Are there income limits for down payment assistance?

Some programs include household income limits, while others follow the requirements of the underlying mortgage program. Eligibility varies by program.

What documents are needed to apply?

Most programs require identification, income documentation, asset statements, your mortgage application, and other supporting documentation depending on the assistance provider.



Chase United Explorer Card Bonus: $500 Credit and Up to 35K Points


Chase United Explorer Card Bonus: $500 Credit and Up to 35K Points

Chase has a new offer for the United Explorer Card. New cardholders can earn a $500 statement credit after their first purchase, plus 25,000 MileagePlus miles after spending $3,000 within the first three months. There is also an additional 10,000-mile bonus for adding an authorized user who makes a purchase during the first three months. Let’s see the details.

Offer Details

  • Signup Bonus:
    • Earn $500 statement credit after first purchase.
    • Earn 25,000 bonus miles after you spend $3,000 on purchases in the first 3 months your account is open.
    • Plus, earn 10,000 bonus miles after you add an authorized user to your account in the first 3 months your account is open.
  • $0 intro annual fee for the first year, then $150
  • DIRECT LINK (or try dummy booking)

Bonus Eligibility

This card product is available to you if you do not have this card and have not received a new Cardmember bonus for this card in the past 24 months.

Guru’s Wrap-Up

This is a good offer for the United Explorer Card. You get a nice cash bonus of $500 statement credit for making one purchase. Then you get 25,000 mile after spending $3,000 and if you add an authorized user you get an extra 10,000 for a total of 35,000 miles.

The card also includes a free first checked bag for the primary cardholder and one companion, two United Club one-time passes each year, priority boarding, a Global Entry, TSA PreCheck or NEXUS credit of up to $120, and expanded award availability. 

Let me know what you think!

HT: DoC

What if AI’s biggest impact on music isn’t just what gets made, but what gets wanted?


MBW Views is a series of op-eds from eminent music industry people… with something to say. The following MBW op/ed comes from Sammy Andrews, CEO of Deviate Digital and a long-standing MBW columnist. Below, she argues that the real, unspoken AI battle in music may be less about ownership than about the difference between distribution and desire…


The music business has spent the past few years publicly arguing about AI and ownership. Who trained the model? Who owns the output? Who gets paid? Those questions really do matter. But they’re not the only ones.

AI is forcing the industry to confront something it has been quietly avoiding: are streams a measure of audience desire, or just a measure of distribution?

For much of the music business, streaming data has become a proxy for audience preference. For many consumers, it has become a proxy for taste itself. But if recommendation systems shape what people discover before they’ve consciously formed a preference, the data isn’t measuring fan sentiment anymore; it’s measuring the platform’s own output, reflected back at itself. The industry is reading its own reflection and calling it the audience.

Demand has always been shapeable. The difference now is scale and intimacy. Previous gatekeepers influenced culture collectively. AI is doing it individually, continuously, and at planetary scale – personalizing influence for millions simultaneously, learning from every interaction, adapting in real time. That is a very different kind of gatekeeper.

The shift from “search and click” to “ask and receive” is well underway. Spotify is integrated into ChatGPT. Google‘s AI Overviews are materially reducing click-through rates. When a fan asks an AI assistant what to listen to, they get an answer, not a menu.

Researching this piece, I asked three popular AIs to recommend music for the evening. They gave confident, thoughtful suggestions. When I asked why, the answers became much more vague.

One told me it was drawing from “a mix of cognitive psychology, neuroscience studies on productivity, and collective human behavior”. Another described access to sonic metadata – BPM, key, energy scores, danceability – as though platform data were independent musical insight.

They knew their understanding had been shaped by journalism, criticism, and fan communities, but couldn’t trace any individual recommendation back to a source. The idea of one artist being “essential” or another “transcendent” had been absorbed from somewhere, blended with everything else, and re-emerged as something that felt like taste. That’s fascinating. It’s also slightly unsettling.

Recommendation has always carried authority. AI introduces a new kind, one that confidently shapes discovery while being unable to fully explain itself. The recommendations of critics, fan communities, and editorial voices don’t disappear inside these systems; they get absorbed, blended, and redistributed at machine scale.

The authority remains, even if the attribution doesn’t. Journalism has become training data for taste formation rather than a destination in its own right.

If the primary discovery interface moves above the DSP into a conversational layer, the new bottleneck isn’t the playlist or the algorithmic push, it’s the prompt response.

Chart positions have been materially shaped by playlist placement for years. Algorithmic promotion can create outcomes that look entirely demand-led, even when recommendation systems did much of the work. The data to distinguish lean-forward listening (direct searches, saved tracks, intentional plays) from lean-back listening (autoplay, radio mode, algorithmic feeds) has existed inside the DSPs for years. Its absence from charting methodology is a commercial and political choice, not a technical limitation.

The conversation about streaming fraud is important, and its scale is larger than most people in this industry are willing to say publicly. But fraud and algorithmic demand aren’t really separate problems.

“You don’t need to break the rules to manufacture demand. The system, operating entirely as intended, is already doing that.”

Bad actors learned to game the system because the system rewards the same signals either way. You don’t need to break the rules to manufacture demand. The system, operating entirely as intended, is already doing that.

The danger isn’t just one of measurement. AI optimizes for frictionless compliance, music that is perfectly pleasant and completely unchallenging. The weird, volatile artistic risks that actually move culture forward don’t score well on an engagement metric. That has consequences well beyond the charts.

None of this requires conspiracy or bad intent. It just requires companies optimizing for what they’ve always optimized for.

We have all spent years mastering how to market to algorithms as well as fans. The infrastructure of algorithmic demand isn’t coming, it’s here.

A stream generated through recommendation tells us something about reach. It tells us far less about desire – unless you’re actively reading the skip, save, and like rates that sit alongside it. For an industry that uses streaming data and chart performance to drive commercial decisions across every sector, that distinction matters more than most people realize.

Every AI-in-music headline is still about generation. Almost none are about what the same models are doing to the people on the other side of the speaker.

AI can already read a fan’s digital footprint – listening behavior, social activity, purchase history, location – and predict lifetime value, churn risk, and exactly which message they’re most likely to respond to.

The commercial temptation is obvious: individualized pricing for merch, tickets, VIP experiences, and artist interaction, calibrated to what a model thinks each fan will pay. Dynamic pricing and behavioral segmentation are already standard practice in travel and advertising as well as secondary ticketing. Is that going to be part of any superfan model?

Fans’ listening and purchase patterns are being aggregated into behavioral profiles of real commercial value, used to shape what they’re offered and potentially what they’re charged. Legislation like GDPR gives regulators some tools, but it was never built for this.

Then there’s voice cloning and conversational AI. Artists may soon offer an always-on relationship no human could sustain. AI companion apps have been downloaded more than 220 million times globally, with category growth of nearly 90% year-on-year.

Usage is particularly high among younger demographics. A polling survey from the Autonomy Institute found that four out of five young people in the UK have used an AI companion. Of those, roughly half describe themselves as regular users. Once that capability attaches to fandom, it won’t move slowly.

The consent frameworks don’t exist. The NO FAKES Act in the United States, for example, targets unauthorized deepfakes… not what happens when an artist or their estate actively deploys one.

You could argue that DSPs and emerging conversational AI platforms have every incentive to keep this debate focused on generation, licensing, and attribution. If the industry spends the next three years litigating training data and output ownership, the companies building recommendation systems and fan-data pipelines will have locked in structural advantages before anyone has seriously asked whether they should.

The practical implications are already arriving. Artists and labels wanting to be surfaced by AI discovery systems are looking properly at their metadata, bios, and knowledge base presence as Generative Engine Optimization (GEO) for music. MusicBrainz compliance, DDEX tagging, Spotify bios written for natural language processing rather than human readers. If that sounds like what SEO did to publishing fifteen years ago, that’s because it is.

I genuinely believe that if algorithms fully mediate discovery, then live music and genuine fan community become more valuable. An algorithm cannot replicate being in a room with other people when something real happens.

That’s not a sentimental argument, it’s a commercial one. The operators who position live music as a conscious counter to algorithmic culture, rather than simply the thing AI hasn’t replaced yet, will be ahead of those who don’t.

But the industry needs to be calling for transparency requirements for algorithmic recommendation; for fan data consent frameworks built for this moment, not the last one; for a demand-side working group with actual authority. None of this is radical. But the window to act before the infrastructure becomes too embedded to shift is not unlimited.

It’s time the music business discussed the demand-side impact of AI properly. What AI is doing to discovery, taste, identity, and the relationship between fans and platforms is structurally bigger, moving faster, and barely on the agenda. The intermediary isn’t simply deciding what’s available or visible. It is changing the preferences that drive demand itself.

The labels, managers, platforms, and artists that thrive in the next decade may not be the ones that adopt and adapt to AI the fastest. They may be the ones that retain the deepest understanding of human behavior alongside it all.

Because if AI shapes what people discover, what they listen to, what they talk about, and ultimately what they buy, the most important question facing this industry is no longer who owns the music. It’s who gets to decide what people want in the first place.


This article originally appeared in the latest issue of MBW’s premium print publication, Music Business Worldwide Magazine, which is out now.

Music Business Worldwide Magazine is available as part of a MBW+ subscription – details through here.

All MBW+ subscribers get digital access to our Music Business Worldwide magazine, with six issues released each year. Music Business Worldwide

4 Ways to Lower Your Healthcare Costs in Retirement So They Don’t Upend Your Budget


Healthcare is one of the biggest expenses many retirees face. And unfortunately, it’s a cost that tends to increase from year to year.

A 65-year-old retiring in 2026 can expect to spend an average of $185,500 on healthcare expenses throughout retirement, says Fidelity. But that figure is up 7.5% from just one year ago. And it’s likely to keep rising.

Image source: Getty Images.

The bad news is that healthcare might end up monopolizing a large chunk of your retirement income. The good news is that there are steps you can take to lower your healthcare spending during your senior years. Here are four to focus on.

1. Sign up for Medicare on time

One of the easiest ways to avoid unnecessary healthcare costs is to enroll in Medicare when you’re first eligible. Your initial enrollment window spans seven months, kicking off three months before the month of your 65th birthday and ending three months after that month.

If you don’t have qualifying employer coverage that entitles you to a special enrollment period, signing up for Medicare late could subject you to surcharges on your premiums for the rest of your life. So it’s important to pay attention to Medicare enrollment dates. And don’t assume enrollment is automatic.

If you’re receiving benefits from Social Security ahead of your 65th birthday, you’ll generally be enrolled in Medicare automatically. Otherwise, you’ll have to actively sign up.

2. Compare your Medicare plan choices every year

Many retirees enroll in a Medicare plan and stick with it for life. That could be an expensive mistake.

Every year during Medicare’s open enrollment period, which runs from Oct. 15 through Dec. 7, beneficiaries have the opportunity to switch Medicare Advantage plans or Part D prescription drug plans. Comparing your options could help you find a lower-cost plan without having to sacrifice coverage.

Remember, not only can Medicare plan rules change from year to year, but so can your health-related needs and your list of prescriptions. Spending a little time shopping around each fall could result in meaningful savings if you find a plan that better fits your needs.

3. Buy Medigap early on

Original Medicare generally requires beneficiaries to pay deductibles, coinsurance, and other out-of-pocket costs. Those expenses can quickly add up, and there’s no annual cap on how much you might spend. That’s where Medigap comes in.

Medigap, or supplemental insurance, can pay for expenses such as deductibles and copays. While Medigap policies do require an additional premium, they may save you money over time.

The best time to buy a Medigap plan is during your initial enrollment period, which begins the month you are both 65 (or older) and enrolled in Medicare Part B. That enrollment window lasts six months.

During that period, insurance companies generally cannot deny you coverage or charge you higher premiums because of preexisting health conditions. Once that six-month window closes, buying a Medigap policy may become more difficult or expensive.

4. Take advantage of preventive care

Preventing health problems is often less expensive than treating them. Medicare offers many preventive services at low or no cost, so it pays to stay on top of your health to prevent issues from escalating. At a minimum, schedule an annual wellness exam with your doctor and undergo all screenings they recommend.

Some Medicare Advantage plans offer supplemental benefits like gym memberships and meal delivery that can help manage certain chronic conditions. It pays to explore your plan’s benefits if you’re enrolled in Medicare Advantage and have one or more conditions that can be better controlled through diet and exercise.

Healthcare costs are an unavoidable part of retirement, but they don’t have to be a source of financial stress. Taking the steps above could lower your costs, and allow you to allocate more of your retirement income to the things you enjoy.

The Biggest Problem in Investing Right Now



Financial product ads are often unconcerned with the truth, or in the words of philosopher Harry Frankfurt, they are full of bullshit. You’re probably susceptible to it. A 2022 study found that younger, high-income men who are very confident in their own financial knowledge are more likely to fall for financial bullshit.

The financial products that get advertised the most aggressively tend to be the most profitable for the firm selling them. If it’s highly profitable for them, you can generally infer that it’s less profitable for you. You’re funding the profits. But the thing is, if you know what to look for, and what to avoid, you can actually use this to your advantage.

——————
*Meet with PWL Capital*

*Timestamps*
00:00 – Intro
00:54 – Financial Advertisements: Mechanisms and Impact
04:20 – Private Assets
10:50 – Margin
13:05 – Options Trading
15:42 – Thematic ETFs
18:00 – Covered Call ETFs
20:01 – Avoiding Financial Bullsh**

*References*

*Avoid Online Scams
I will never reach out to you on social media platforms or WhatsApp to give financial advice. These are scammers trying to commit fraud.

*Check out the Rational Reminder Podcast*
YouTube channel @rationalreminder
Podcast website
Rational Reminder community (forum)
Apple Podcasts
Spotify

source

The SEC’s Proposal for Semiannual Reporting


Many large companies support the proposal including business associations, oil & gas, and pharmaceuticals. Eli Lilly, for example, stated that, if the rule is adopted substantially as proposed, it anticipates electing to file semiannual reports on Form 10-S while continuing voluntary quarterly earnings releases. A joint letter from Bristol Myers Squibb, Eli Lilly, Gilead, Johnson & Johnson, Merck, Pfizer, Roivant, Viatris, and Zoetis similarly supports optional semiannual reporting and says some of the companies currently anticipate electing Form 10-S while continuing voluntary quarterly earnings releases.

ExxonMobil also supports the proposal. Its letter argues that investors increasingly rely on earnings releases, presentations, and Form 8-K filings rather than the Form 10-Q itself. ExxonMobil also proposes an optional new Form 8-K item through which companies could file first- and third-quarter financial statements and related information without preparing a full Form 10-Q.

Industry associations including the U.S. Chamber of Commerce, the National Association of Manufacturers, the American Petroleum Institute, MassBio, The National Association of Real Estate Investment Trusts (Nareit), the Aerospace Industries Association, and the Retail Industry Leaders Association all publicly expressed support for the proposal. 

One of the most important supportive letters comes from Financial Executives International’s Committee on Corporate Reporting. FEI CCR says its members include “approximately 50 chief accounting officers and corporate controllers from Fortune 100 and other large public companies, representing more than $19 trillion in market capitalization.” In a survey of CCR members, 58% said they would most likely elect semiannual reporting, while 42% said they would most likely continue filing quarterly. Among those leaning toward semiannual reporting, all said they would continue issuing voluntary quarterly earnings releases.

That is a critical data point: could almost 60% of large (Fortune 100) companies elect semiannual reporting, moving their quarterly reports to purely earnings release processes? While better than nothing, the content, legal liability, assurance and comparability across issuers for earnings releases are markedly lower than those of a Form 10-Q.

[Targeted] AmEx Offers: Accor Luxury Hotels, Spend $500+ & Receive $100 Statement Credit


The Offer

No direct link, targeted offer

  • Get a one-time $10 statement credit by using your enrolled eligible Card to spend a minimum of $500 USD in one or more purchases on room rate and room charges at select ALL Accor Hotels Luxury Properties in the US and globally from 8/3/26 until 11/2/26

Our Verdict

Other regions got ALL Accor as an American Express transfer partner and we get this. Useful if you have an upcoming stay but not a big enough discount to change booking behavior really. 

View more Amex offers here & if you have any questions about American Express offers then read this post.

Non-QM HELOCs – MortgageDepot


Our specialty is offering  Home Equity Lines of Credit (HELOCs) for all types of borrowers: self-employed, unemployed, retired, investors, and any property owner who cannot go the conventional route.

HELOCs

Core Structure:

  • 2, 3, or 5-year draw periods
  • Interest-only payments for the first 10 years
  • 20- or 30-year total loan terms

Alt Doc & No-Income Options

Conventional lenders rely heavily on tax returns, but we know that doesn’t always reflect the full picture. Our HELOC programs include Alternative Documentation (Alt Doc) options.

  • WVOE (Written Verification of Employment)
  • Profit & Loss Statements (P&L)
  • Bank Statements (personal or business)
  • DSCR (Debt Service Coverage Ratio for investors)

Maximum CLTV up to 75% depending on the documentation type.

No-Income HELOC Option (Yes, Really)

For qualified borrowers, we also offer a No-Income Verification HELOC.

  • Owner-occupied properties
  • Up to 60% CLTV
  • Minimum 640 FICO

Investor-Friendly HELOC Solutions

Real estate investors are a big part of what we do.

  • No-ratio investment options
  • DSCR qualification (no personal income required)
  • Lienient underwriting for rental portfolios

Our HELOCs are available for a wide range of borrowers and property types:

  • Primary residences
  • Second homes
  • Investment properties
  • Foreign Nationals eligible

Loan Amounts:

  • From $25,000 up to $3,000,000

Reach out, and we’ll connect you with a Heloc loan specialist to go over your scenarios.

 

 

How Much Time Do Your Employees Spend Botsitting?


Benjamin is a consultant who advises government agencies on technology partnerships. He signed up for an AI scheduling agent, expecting it to buy back his time. When we interviewed Benjamin, he told us how he envisioned a clutter-free calendar, fewer interruptions throughout his days, and an end to the soul-crushing back-and-forth of scheduling meetings. What he got instead was a second job: managing the agent he’d hired to manage his calendar.



Scott Bessent is ‘sick of hearing about’ the K-shaped economy and declares it’s over



Scott Bessent has some good news for consumers this morning: The K-shaped economy is officially over! Consumers on the lower end of the income spectrum are no longer being left behind by their richer counterparts, he insists.

The Treasury Secretary said he is “sick of hearing about this K-shaped economy,” during a CNBC interview yesterday, adding: “I can say here definitively, the K-shaped economy is over.”

Instead, Bessent said U.S. households are in a C-shaped economy “where the lower end of wage earners are finally calling it back, just like they did in President Trump’s first term.”

Bessent said the bottom 25% of workers have seen a 2% real wage gain. That’s likely a reference to Treasury data for 2025 that showed blue-collar workers saw growth of 1.7% in the first five months of Trump’s presidency.

The Treasury Secretary also pointed to White House policy under the One Big Beautiful Bill Act (such as no taxes on tips or overtime, as well as reduced taxes for seniors on Social Security) as having a meaningfully positive effect on household finances. The act, described by the White House as the biggest tax break in history, purported to give Americans earning between $15,000 and $80,000 an average tax cut of 15%.

The bill also promised to increase tipped and overtime workers’ take-home pay by $1,500 a year, and has reportedly increased after-tax income for a typical two-child family by $7,600 to $10,900.

Bank of America has also observed that some elements of the K-shaped economy are beginning to close. In a note last week, chief U.S. economist Aditya Bhave wrote that consumer spending (excluding gas) has ceased to be K-shaped on a year-over-year basis—at least it had been for the previous fortnight.

There are three reasons for this trend, Bhave wrote: stronger job growth and/or lower tax withholding, June’s drop in gas prices, and the fact that the gap really opened up in June last year, meaning the base effect was favourable for the gap to reduce.

“With everything that we’re seeing in the media, it’s difficult to discern” economic upsides, Bessent added.

Broader data is yet to agree

Nonetheless, the data does not yet fully support Bessent’s theory. On the One Big Beautiful Bill Act, for example, both Goldman Sachs and Morgan Stanley have suggested that the Iran war’s knock-on effect on gasoline prices has almost entirely canceled out the promised windfall.

Likewise, wage growth by income percentile data doesn’t support the notion that the K-shaped economy has ended. The Federal Reserve Bank of Atlanta evaluates a 12-month moving average of wage growth by income quartile on an hourly basis. Its June update found the lowest quartile of wage distribution saw growth of 3.6%, while the top 25% of earners saw growth of 3.9%.

At no point in 2026, per the Atlanta Fed, has median wage growth for the bottom percentile of earners exceeded that of the top percentile. The quartile that has seen the most growth throughout 2026 has been the third.

Likewise, current drivers of wealth gains (notably, equities courtesy of the AI boom) are concentrated among higher earners. Joe Brusuelas, chief economist at RSM, wrote in June that 75 cents of every spent dollar generated by the equity rally flows through the top income quintile. “If we are counting on the stock market to sustain the consumer economy, we are leaning on a channel that deepens the K-shape rather than offsets it,” he said. “When it comes to overall spending, no matter which estimate of spending concentration you use, the wealth-effect channel is more skewed toward the top.”

In a note Thursday, BNP Paribas’s markets team echoed: “Equity holdings are concentrated among higher-income individuals, where the marginal propensity to consume (MPC) tends to be lower, but the overall gains have been much stronger.”

MPC measures the extra income a person spends rather than saves, and while this tends to be lower among higher earners (because their basic needs can be met by a smaller percentage of their income)—that doesn’t mean their consumption isn’t what’s powering the economy.

“The K-shaped economy—with the well-to-do thriving and everyone else lagging—remains firmly intact,” Moody’s chief economist Mark Zandi wrote last month. Citing Fed data, he highlighted for the 12 months ending in the first quarter of 2026, outlays by earners of $200,000 a year or more grew an estimated 6.5%—nearly 4% in real terms. Meanwhile, outlays by those in the bottom 80% were unchanged after inflation.