Get a Quote! | Schedule some time with me!

License# CA-DFPI1309062

Your Mortgage Advising Partner| Transforming Your Real Estate Goals Into A Reality

I'm Julie Barros, your dedicated financial partner at Julie Barros Powered By Equity Smart Home Loans. With a wealth of 20 years of combined experience in the lending, real estate, F500 corporate finance, and financial services industries, I am here to serve your best financial interests and committed to helping you achieve your residential and commercial real estate goals.

My passion for helping individuals and businesses secure the best possible loan solutions has driven me to excel in helping others achieve their financial goals. I hold a Bachelor's of Science degree in Business Administration / Finance from San Jose State University, and continue to stay updated with the latest market, economic trends, and lending practices.

Whether you're looking to purchase a rental property (1 to 4 units) or invest in a promising commercial property (more than 4 units), own a small business, or you are a 1099 self employed person and have the assets but just cannot show consistent income to purchase a home or business property, then I have you covered too. Maybe you need a flexible but federally approved small business loan because you may not qualify for more stringent requirements through a bank or SBA. You might be age 55+ or 62+ and have a significant amount of home equity just locked up and want to learn about proprietary reverse or federally insured FHA Home Equity Conversion Mortgage (HECM) to help you use the equity to fund an early retirement, pay medical bills, have a more comfortable life traveling the world, or perhaps you just want to help the Grand-kids with college expenses or buy their first home .... I'm here to guide you through every step of the process.

Services Offered:

Here is a list of some, but not limited to, mortgage loan products I offer my clients.

ALL mortgage types are available as either: 

Purchase Mortgage 

Refinance Mortgage 

Non QM Loans:
Non-Qualified Mortgage with Debt-to-Income (DTI) Ratios above 43%: QM loans generally have a maximum DTI ratio of 43%, but non-QM loans can accommodate higher DTI ratios for borrowers with unique circumstances.

Bank Statement Loans:
Designed for self-employed borrowers, these loans use bank statements to verify income rather than traditional tax returns and pay stubs.

Stated Income/Stated Asset (SISA) Loans:
Borrowers state their income and assets without providing full documentation for verification. These loans are often used by self-employed individuals or those with complex income sources.

Jumbo Loans:
These are larger loans that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. Jumbo non-QM loans provide financing for high-value properties.

Fix & Flip Loans:
A "fix and flip" mortgage, also known as a rehab loan or renovation loan, is a type of financing used by real estate investors to purchase properties that need significant repairs or renovations. The goal is to buy the property at a lower price, invest in repairs and improvements, and then sell it (flip it) at a higher price to make a profit. These loans are typically short-term, often with terms of 6 to 12 months. This is because they are designed for quick turnarounds; the investor's goal is to sell the property as soon as renovations are complete.

Asset Depletion Loans:
An asset depletion mortgage loan, also known as an asset dissipation loan, is a type of mortgage that allows borrowers to qualify based on their substantial assets rather than their employment income. Here's how it works:

Qualification: Instead of using your regular income from a job to qualify for the loan, the lender considers the value of your assets. These assets can include money market accounts, checking or savings accounts, certificates of deposit (CDs), retirement accounts (like a 401K or IRA), and investment accounts (such as stocks, bonds, and mutual funds).

Calculation: The lender calculates an income stream from these assets to determine your ability to repay the loan. For example, they might take a percentage of the total value of your assets and divide it over a set period to estimate a monthly income amount.

Collateral: Your assets act as collateral for the loan. This means that if you default on the mortgage, the lender has the right to claim these assets.

Borrowers: This type of loan is particularly useful for:

Self-employed individuals who may not have a steady, verifiable income.
Retirees who might have low fixed income but substantial savings or investments.
Individuals with significant assets but limited traditional income documentation.
Non-QM Loan: Asset depletion mortgages fall under the category of non-qualified mortgage (non-QM) loans, which do not meet the standard criteria for qualified mortgages set by the Consumer Financial Protection Bureau (CFPB). These loans typically have more flexible requirements but may come with higher interest rates or fees.

In summary, an asset depletion mortgage loan enables borrowers to leverage their wealth to secure a mortgage, making it an ideal solution for those with substantial assets but irregular or insufficient documented income.

DSCR Loans:
DSCR (Debt Service Coverage Ratio) loans are a type of real estate investment loan designed for income-generating properties. These loans are particularly useful for investors and are primarily based on the property's ability to generate enough income to cover its debt obligations. Here’s a detailed explanation of DSCR loans:

Key Concepts
Debt Service Coverage Ratio (DSCR):

DSCR is a financial metric used to assess a property's ability to cover its debt payments with its net operating income (NOI).
It is calculated by dividing the property's NOI by its total debt service (principal and interest payments).
A DSCR of 1.0 means the property generates just enough income to cover its debt obligations. A DSCR above 1.0 indicates the property generates more income than needed to cover debt, while a DSCR below 1.0 suggests a shortfall.
Qualification:

Lenders use the DSCR to determine the loan eligibility. Higher DSCRs are preferred as they indicate a lower risk of default.
Unlike traditional loans, DSCR loans do not heavily rely on the borrower's personal income or employment history.
Use Case:

Ideal for real estate investors who own or are looking to acquire rental properties, commercial real estate, or multi-family units.
These loans focus on the property's income potential rather than the borrower’s personal financial situation.
Loan Terms:

Typically, DSCR loans have flexible terms regarding down payments and interest rates, but these factors can vary depending on the lender and the property's DSCR.
Generally, the property must generate enough rental income to meet the lender's minimum DSCR requirement, which often ranges from 1.2 to 1.5. However, we do have lenders that may offer a DSCR lower than 1.0, meaning a negative DSCR.
Documentation:

The application process for DSCR loans usually requires detailed information about the property's income and expenses, including rent rolls, lease agreements, and financial statements.
Personal financial statements and credit scores may still be reviewed but are less critical than in traditional mortgage lending.
Advantages:

Provides financing options for investors with complex income structures or those who reinvest their income into properties.
Allows for portfolio diversification as it focuses on the property's performance rather than the borrower’s personal income.

Example:
Suppose an investor is looking to buy a rental property with an annual net operating income (NOI) of $120,000. The annual debt service (loan payments) for the property is $100,000.
The DSCR would be calculated as follows: DSCR = $120,000 / $100,000 = 1.2
A DSCR of 1.2 means the property generates 20% more income than is needed to cover its debt obligations, which is generally acceptable to lenders for a DSCR loan.
In summary, DSCR loans are valuable tools for real estate investors focused on income-generating properties. They provide a way to finance properties based on their income potential, offering more flexibility and less reliance on the borrower's personal financial history.

Commercial Loans:
Commercial loans are a type of financing designed specifically for businesses and commercial purposes. They can be used for a variety of business needs, including expanding operations, purchasing equipment, real estate acquisition, or working capital. Here's an overview of commercial loans:

Key Features of Commercial Loans:
Purpose:

Commercial loans are used to fund business activities such as buying real estate, purchasing inventory, financing equipment, expanding operations, and covering operational expenses.
They can also be used for specific projects like property development or acquisition.
Types of Commercial Loans Offered:

SBA Loans: Loans guaranteed by the U.S. Small Business Administration (SBA) but ours are privately funded, allowing the borrower more flexibility to qualify. Programs include the 7(a) Loan Program and the 504 Loan Program. Offered in all 50 states!
Commercial Real Estate Loans: Used specifically for purchasing or refinancing commercial properties such as office buildings, retail centers, or industrial facilities. We offer commercial loans for 5 Unit buildings or greater, and up to $200MM in all 50 states!

Reverse Mortgages:
Loans available to homeowners aged 62 and older, allowing them to convert home equity into cash without monthly mortgage payments. Reverse Mortgages can be used to purchase another property, consolidate debt, subsidize income, pay medical bills, keep up with home maintenance, and more. We also have a version of these for borrowers age 55 or older as well.

Bridge Loans:
Short-term loans that provide financing until a borrower secures permanent financing, often used in real estate transactions.

Conventional Loans:
Conventional loans come in different forms, including fixed-rate and adjustable-rate mortgages. Fixed-rate mortgages maintain the same interest rate for the life of the loan, while adjustable-rate mortgages have interest rates that can change periodically. Conventional loans can be used to purchase various property types, such as single-family homes, condominiums, townhouses, and even investment properties. Conventional loans have both conforming and non-conforming loan limits. Conforming loans adhere to the loan limits set by Fannie Mae and Freddie Mac. Non-conforming loans, often referred to as jumbo loans, exceed these limits.

Interest-Only Loans:
These loans allow borrowers to pay only the interest for a certain period, usually 5-10 years, before starting to pay both principal and interest. After the interest-only period, the monthly payment increases.

FHA loans:
Generally FHA loans are a good option for home buyers who have lower credit and/or cannot pay a large down payment on their home. The down payment can be as low as 3.5% of the home's purchase price. Borrowers with credit scores as low as a 500 FICO may still qualify for an FHA loan. Mortgage insurance premiums are required through the life of the loan. There is an upfront premium that can be financed into the loan amount, as well as annual premiums that are paid in monthly installments. FHA loan limits vary by location and are set by HUD.

Construction Loans:
Construction-to-permanent mortgage or a construction loan, is a type of loan that helps finance the construction of a new home. This type of mortgage is different from a traditional mortgage used to purchase an already-built home.
Typically there are phases:
1) Construction Phase -These stages are often referred to as "draws" and coincide with milestones in the construction process, such as completing the foundation, framing, roofing, etc. The borrower is usually required to make interest-only payments on the funds disbursed during this phase.
2) Conversion to Permanent Mortgage: Once the construction is complete, the construction loan is typically converted into a permanent mortgage. This is often referred to as the "conversion phase." At this point, the borrower starts making full principal and interest payments on the loan amount, similar to a traditional mortgage.
One-Time Close vs. Two-Time Close: Some construction loans offer a "one-time close" option, where the construction and permanent financing are combined into a single loan with one set of closing costs. Others might require a "two-time close," where separate loans are taken out for construction and permanent financing.
The builder or contractor involved in the construction may need to be approved by the lender. Lenders may have requirements for the builder's experience, track record, and financial stability.
Lenders usually require inspections at each construction stage to ensure that the work is progressing as planned. This helps protect the lender's investment in case of project delays or issues.
Expect to provide detailed documentation about your income, assets, and other financial information during the application process.