Mortgage Consultant

Robert Gire

Let me help you figure out your mortgage needs!

Let me help you figure out your mortgage needs!


NMLS # 1687420

Las Vegas resident for 30 years

Home Purchase

simplified terms for a person to qualify for a mortgage and purchase a home:

Good Credit Score: Lenders typically look for a good credit score, which is a numerical representation of a person's creditworthiness. Generally, a higher credit score increases the chances of qualifying for a mortgage. A score above 650 is usually considered favorable, but specific requirements may vary among lenders.

Stable Income and Employment: Lenders want to ensure that borrowers have a stable source of income to repay the mortgage. They typically prefer borrowers who have been employed for at least two years in the same line of work or industry. Consistent income from employment, self-employment, or other sources is crucial.

Down Payment: Borrowers are generally required to make a down payment when purchasing a home. The down payment is a percentage of the home's purchase price paid upfront. While the exact amount varies, it's typically around 5% to 20% of the purchase price. A higher down payment can improve the chances of qualifying for a mortgage and may also result in more favorable loan terms.

Debt-to-Income Ratio: Lenders assess a borrower's debt-to-income ratio, which compares their monthly debt payments to their gross monthly income. Generally, a lower debt-to-income ratio is preferable. Lenders usually look for a ratio below 43%, although some loan programs may allow higher ratios.

Employment and Income Verification: Borrowers need to provide documentation to verify their employment and income. This includes pay stubs, W-2 forms, tax returns, and bank statements. Self-employed individuals may need to provide additional documentation, such as profit and loss statements or business tax returns.

Property Appraisal: Lenders typically require a professional appraisal of the property being purchased. The appraisal ensures that the property's value is sufficient to support the loan amount.

Closing Costs and Reserves: Borrowers should have funds available to cover closing costs, which include fees associated with the mortgage process. Additionally, some lenders may require borrowers to have reserves, which are savings or assets that can cover a certain number of mortgage payments.

It's important to note that these requirements can vary among lenders, loan programs, and countries. Working with a Mortgage Loan Officer or a mortgage professional can provide personalized guidance and help navigate the specific requirements for your situation.


Refinancing your home means replacing your current mortgage with a new one. It's like getting a fresh loan to pay off the old loan you had when you first bought your home. The goal is often to secure a better interest rate, change the loan terms, or access the equity in your home.

Here's a simplified breakdown of the refinancing process:

Evaluation: You assess your current mortgage, including interest rate, monthly payments, and loan terms. You also consider your financial goals and reasons for refinancing.

Research and Comparison: You shop around for different lenders and mortgage options to find the best deal that suits your needs. This involves comparing interest rates, fees, and repayment terms.

Application: Once you've chosen a lender, you complete an application form and provide the necessary documentation, such as income verification, credit history, and property appraisal.

Approval and Closing: The lender reviews your application, verifies the information, and determines whether to approve your refinance. If approved, you'll go through a closing process, where you sign the new loan documents and pay any closing costs.

Paying off the old loan: The new loan proceeds are used to pay off your existing mortgage in full. This means the old mortgage is closed, and you start fresh with the new loan.

New Mortgage Terms: With refinancing, you may have the opportunity to change the terms of your mortgage. For example, you might switch from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage (FRM), or vice versa. You can also modify the loan term, such as going from a 30-year mortgage to a 15-year mortgage.

Benefits and Considerations: Refinancing can have advantages such as lower monthly payments, reduced interest costs over time, or accessing cash through home equity. However, it's essential to carefully consider factors like closing costs, break-even point (the time it takes to recoup the costs of refinancing), and the potential impact on your credit.

Remember, refinancing involves a thorough assessment of your financial situation and careful consideration of the costs and benefits. It's a good idea to consult with a mortgage professional or financial advisor to help you make an informed decision.


A HELOC stands for Home Equity Line of Credit. It is a type of loan that allows you to borrow money using the equity you have in your home as collateral.

Here's how it works: When you own a home, you build up equity over time as you pay off your mortgage and the value of your home increases. Equity is the difference between the current market value of your home and the amount you still owe on your mortgage.

With a HELOC, a lender gives you a line of credit based on the amount of equity you have in your home. This line of credit acts like a credit card, where you can borrow money up to a certain limit and repay it over time.

The key features of a HELOC are:

Flexibility: You can borrow and repay money as needed, similar to a credit card. You can use the funds for various purposes, such as home improvements, education expenses, or debt consolidation.

Draw period: HELOCs usually have a draw period, typically 5 to 10 years, during which you can borrow money from the line of credit. You make interest-only payments during this period.

Repayment period: After the draw period ends, you enter the repayment period, which is usually 10 to 20 years. During this period, you can no longer borrow money, and you must start repaying both the principal and interest.

Variable interest rates: HELOCs often have variable interest rates, which means the rate can change over time based on market conditions. This can affect your monthly payments.

Secured by your home: It's important to note that a HELOC is secured by your home. If you're unable to repay the loan, the lender has the right to foreclose on your home to recover their money.

Overall, a HELOC can be a useful financial tool if you have equity in your home and need access to funds. However, it's crucial to carefully consider the terms, interest rates, and repayment obligations before deciding to take out a HELOC.

A hard money loan is a type of short-term loan that is typically used in real estate transactions. It is called a "hard" money loan because it is backed by a hard asset, usually real estate, which serves as collateral for the loan.

Here's a simplified explanation of a hard money loan:

Purpose: Hard money loans are often used by real estate investors or borrowers who need quick access to financing and may not qualify for traditional bank loans due to factors such as poor credit history or the property's condition.

Collateral: In a hard money loan, the property being purchased or refinanced serves as collateral for the loan. The lender evaluates the property's value and condition to determine the loan amount.

Short-Term and High-Interest: Hard money loans typically have short terms, usually ranging from a few months to a few years. They also come with higher interest rates compared to traditional bank loans. The interest rates can vary significantly depending on the lender, borrower's risk profile, and market conditions.

Speed and Flexibility: Hard money loans are known for their quick approval and funding process. Lenders often focus more on the value of the property and the borrower's exit strategy (how they plan to repay the loan) rather than extensive documentation or credit history. This allows borrowers to act swiftly in real estate transactions where time is of the essence.

Repayment: Hard money loans usually require monthly interest payments, and the principal is repaid in a lump sum at the end of the loan term. Some hard money loans may have a balloon payment structure, meaning the borrower must pay off the entire loan balance at the end of the term.

Exit Strategy: Lenders typically want assurance that the borrower has a clear plan to repay the loan. This can involve refinancing with a conventional mortgage, selling the property, or other viable means of generating funds to repay the loan.

Risks and Considerations: Hard money loans come with higher interest rates and fees, which can increase the overall cost of borrowing. Borrowers should carefully evaluate the potential profitability of the investment, as well as their ability to meet the loan's repayment terms.

It's important to note that hard money loans can be complex, and the terms may vary between lenders. It's advisable to work with a reputable hard money lender and consult with a real estate professional or financial advisor to assess the suitability of a hard money loan for your specific needs and circumstances.

Reverse Mortgage

A reverse mortgage is a type of loan specifically designed for homeowners who are at least 62 years old. It allows them to convert a portion of their home equity into cash while still living in their home.

Here's a simplified explanation of a reverse mortgage:

Eligibility: To qualify for a reverse mortgage, you must be a homeowner who is at least 62 years old. The home you own should be your primary residence.

Loan Repayment: Unlike a traditional mortgage, with a reverse mortgage, you don't make monthly payments to the lender. Instead, the loan is typically repaid when you sell the home, move out of it, or pass away.

Home Equity Conversion: A reverse mortgage enables you to convert a portion of your home equity into cash. The lender pays you either in a lump sum, a line of credit, or monthly payments, depending on the type of reverse mortgage you choose.

Ownership and Responsibilities: With a reverse mortgage, you still own your home, and you remain responsible for paying property taxes, insurance, and any maintenance or repairs necessary to keep the home in good condition.

Loan Repayment Amount: The amount you owe on the reverse mortgage increases over time as interest and fees accrue. The total repayment amount depends on factors such as the loan amount, interest rate, and length of time you have the loan.

Non-Recourse Loan: A reverse mortgage is a non-recourse loan, which means that you or your heirs will not be personally liable for repaying more than the value of the home when the loan becomes due. If the loan amount exceeds the home's value, the lender absorbs the difference.

Loan Termination: The loan becomes due and must be repaid when you no longer live in the home as your primary residence. This typically happens when you sell the home, move to a different primary residence, or pass away.

Counseling and Considerations: Before obtaining a reverse mortgage, it's usually required to attend counseling to ensure you understand the loan terms, costs, and potential implications. It's essential to carefully consider the long-term financial impact and explore alternatives before deciding to proceed with a reverse mortgage.

Remember, reverse mortgages can be complex, and the specific terms and conditions may vary depending on the lender and the type of reverse mortgage you choose. It's crucial to consult with a reputable reverse mortgage counselor or financial advisor to fully understand the implications and determine if a reverse mortgage is the right option for your individual circumstances.


An ITIN home purchase refers to the process of buying a home using an Individual Taxpayer Identification Number (ITIN) instead of a Social Security Number (SSN). ITINs are issued by the Internal Revenue Service (IRS) to individuals who are not eligible for an SSN but need to fulfill tax obligations.

Here's a simplified explanation of an ITIN home purchase:

ITIN: An ITIN is a unique identification number issued by the IRS to individuals who are not eligible for an SSN but still need to comply with tax requirements. ITINs are often used by non-resident immigrants, resident aliens, and other individuals who don't qualify for an SSN.

Mortgage Eligibility: While having an ITIN instead of an SSN may limit your options, it is still possible to qualify for a mortgage loan to purchase a home. Some lenders offer mortgage programs specifically tailored for individuals with ITINs.

ITIN Home Loan Programs: These mortgage programs cater to borrowers with ITINs, allowing them to apply for a mortgage using their ITIN as an identification number. The eligibility criteria and terms of these programs may vary among lenders.

Documentation and Requirements: To apply for an ITIN home loan, you will typically need to provide the same documents as traditional mortgage applicants, such as proof of income, bank statements, identification, and credit history. However, instead of using an SSN, you would provide your ITIN as your identification number.

Loan Terms and Conditions: The loan terms and conditions for an ITIN home purchase may vary depending on the lender and the specific program. It's important to carefully review and compare the interest rates, down payment requirements, closing costs, and repayment terms offered by different lenders.

Benefits and Considerations: An ITIN home purchase can provide an opportunity for individuals without an SSN to become homeowners. However, it's crucial to consider the financial aspects, such as affordability, interest rates, and repayment obligations. Consulting with a mortgage professional or financial advisor can help you navigate the process and find the best options for your specific circumstances.

It's worth noting that mortgage programs and requirements can change over time, so it's advisable to consult with a lender or mortgage specialist who can provide up-to-date information and guidance on ITIN home purchases.