Site map

Buying a home

• First-time home buyer loansWhat you can afford, pre-qualification vs. pre-approval, and the first questions Daniel walks through.
• Low down payment home loansFHA and other programs where low down payment options may be available for eligible borrowers.
• Down payment assistanceGrants and second loans that may be available for eligible buyers, depending on the state and program.
• Buying a move-up or forever homeFixed-rate mortgages for buyers who plan to stay and want a predictable principal and interest payment.
• Buying a higher-priced homeJumbo loans above conforming loan limits, underwritten in-house at Cornerstone.
• Buying a fixer-upperRenovation and rehab loans that combine the purchase and the improvements in one loan.
• Buying in a rural or suburban areaUSDA loans for primary residences in USDA-eligible areas, within income limits.
• Home loans for veterans and service membersVA loans for eligible service members, veterans and surviving spouses.

Owning a home

• Refinance your mortgageChange your rate, your term, or move between fixed and adjustable. Daniel will tell you when it doesn't make sense.
• Cash-out refinance and home equityTurn built-up equity into cash for renovations, debt consolidation or other goals.
• Renovate the home you ownRenovation refinance options that may finance improvements to a home you already own.
• VA streamline refinance (IRRRL)May be available to eligible borrowers with an existing VA loan.
• Adjustable-rate mortgage (ARM) refinanceHow ARMs adjust, rate caps, and when an ARM may fit your plans.

Investing, building and business

• DSCR loans for rental propertyInvestment property loans based on the property's rental income.
• Self-employed mortgage optionsBank statement and alternative documentation programs, subject to program requirements.
• Construction, land and bridge loansFinancing to build, buy land or bridge to permanent financing, through Cornerstone and its lending partners.
• Commercial real estate loansMultifamily, mixed-use, owner-occupied business property and investor portfolios.

Program pages

• Fixed-Rate MortgageA fixed-rate mortgage keeps the same interest rate for the life of the loan, so the principal and interest part of your payment never changes.
• Adjustable-Rate Mortgage (ARM)An adjustable-rate mortgage starts with a rate that's fixed for an initial period, then adjusts on a set schedule based on a market index.
• FHA LoansFHA loans are insured by the Federal Housing Administration and offer flexible guidelines that can fit buyers who are still building savings or credit.
• VA LoansVA loans are made by private lenders and guaranteed by the U.S. Department of Veterans Affairs. Benefits may be available to eligible service members, veterans and surviving spouses.
• USDA LoansUSDA loans help eligible buyers purchase a primary residence in USDA-designated areas, which include many rural and suburban communities.
• Jumbo LoansJumbo loans finance amounts above the conforming loan limits set for Fannie Mae and Freddie Mac, for higher-priced homes and high-cost areas.
• Renovation & Rehab LoansA renovation loan finances the purchase of a home and the cost of improving it in a single loan, with renovation funds released as the work is completed.
• Down Payment Assistance (DPA)Down payment assistance programs help eligible buyers cover part of the down payment or closing costs, through a grant, a second loan, or a combination.
• Non-QM LoansNon-QM (non-qualified mortgage) loans use alternative ways to document income and assets, for borrowers whose finances don't fit standard agency guidelines.
• RefinanceA refinance replaces your current mortgage with a new one under different terms, for example to change your rate, your term, or your type of loan.
• Cash-Out RefinanceA cash-out refinance replaces your current mortgage with a larger loan and gives you the difference in cash, using the equity you've built.

Conventional and specialty options

• Conventional fixed-rate mortgagesRate and principal-and-interest payment stay the same for the full term.
• Conventional adjustable-rate mortgagesA fixed starting period, then adjustments tied to an index plus a margin, with caps.
• Bank statement loansQualify using bank statements, with or without a third-party profit-and-loss statement.
• Asset depletion and asset qualifier loansPrograms that consider qualifying assets.
• One-year income documentation loansFor borrowers with a shorter income history, subject to program requirements.
• Non-warrantable condo loansFinancing for condominiums that don't meet standard agency guidelines.
• ITIN and foreign national mortgagesOptions for borrowers without a Social Security number, subject to program requirements.
• Options after a past credit eventSubject to waiting periods and program guidelines.
• Reverse mortgage optionsTalk with Daniel about whether a reverse mortgage may fit your situation.

The mortgage process

• Pre-qualification vs. pre-approval vs. AUS approvalThree different letters, and what each one tells you about how far along you are.
• The four stages of a mortgageStart here, what can I actually afford, in process, and after you close.
• What goes into a mortgage payment?Principal, interest, taxes, insurance and mortgage insurance, compared with rent.
• Daniel in 3 statementsEducation before transaction, straight answers, and a relationship that outlasts the loan.
• For homebuyers working with a real estate agentWhy it pays to start educated, whoever you start with.

Mortgage lessons from the table

• The only thing you lock in is the priceA short story that clears up a common mortgage misconception.
• How to read a rate adA short story that clears up a common mortgage misconception.
• The money in the bank isn't the number you needA short story that clears up a common mortgage misconception.
• Debt, not income, is often the deal-breakerA short story that clears up a common mortgage misconception.
• Don't run from the house that needs workA short story that clears up a common mortgage misconception.
• Bank the rentA short story that clears up a common mortgage misconception.
• A condition isn't a "no."A short story that clears up a common mortgage misconception.

New Jersey mortgage lending

Home office in Clark, Union County, serving borrowers across New Jersey, including:

• Clark, NJ
• Cranford, NJ
• Westfield, NJ
• Rahway, NJ
• Linden, NJ
• Scotch Plains, NJ
• Kenilworth, NJ
• Garwood, NJ
• Union, NJ
• Elizabeth, NJ
• Edison, NJ
• Woodbridge, NJ

• Union County
• Middlesex County
• Essex County
• Somerset County
• Morris County
• Monmouth County
• Hudson County
• Bergen County

Florida, Pennsylvania and California

• Florida mortgage lendingHome purchase, refinance and investment property loans for Florida properties.
• Pennsylvania mortgage lendingHome purchase, refinance and investment property loans for Pennsylvania properties.
• California mortgage lendingHome purchase, refinance and investment property loans for California properties.
• Other statesSee "Where can DanLends help me buy or refinance?" in the FAQ.

General mortgage questions

• Who is Daniel Molinari?Answered in the mortgage FAQ.
• What is DanLends Mortgage & Commercial Lending?Answered in the mortgage FAQ.
• Where can DanLends help me buy or refinance?Answered in the mortgage FAQ.
• Do I need a big down payment to buy a house?Answered in the mortgage FAQ.
• What's the difference between pre-qualified and pre-approved?Answered in the mortgage FAQ.
• Can I get pre-qualified the same day?Answered in the mortgage FAQ.
• What happens when I start an application?Answered in the mortgage FAQ.
• Does DanLends offer commercial real estate loans?Answered in the mortgage FAQ.
• I'm self-employed or an investor. Do I have options?Answered in the mortgage FAQ.
• Should I talk to a lender before a real estate agent?Answered in the mortgage FAQ.
• Why doesn't Daniel advertise interest rates?Answered in the mortgage FAQ.
• How do I get started?Answered in the mortgage FAQ.

Loan program questions

• Does my payment ever change on a fixed-rate mortgage?Answered on the Fixed-Rate Mortgage page.
• If rates go down later, am I stuck?Answered on the Fixed-Rate Mortgage page.
• How much can an ARM payment go up?Answered on the Adjustable-Rate Mortgage (ARM) page.
• Is an ARM riskier than a fixed-rate loan?Answered on the Adjustable-Rate Mortgage (ARM) page.
• Is FHA only for first-time buyers?Answered on the FHA Loans page.
• Can I use gift money for an FHA down payment?Answered on the FHA Loans page.
• Can I use my VA loan benefit more than once?Answered on the VA Loans page.
• Is the VA the lender?Answered on the VA Loans page.
• How do I know if a home is in a USDA-eligible area?Answered on the USDA Loans page.
• Is USDA only for farms?Answered on the USDA Loans page.
• What makes a loan a jumbo loan?Answered on the Jumbo Loans page.
• Are jumbo loans harder to get?Answered on the Jumbo Loans page.
• How are renovation funds paid out?Answered on the Renovation & Rehab Loans page.
• Can I do the work myself?Answered on the Renovation & Rehab Loans page.
• Do I have to pay down payment assistance back?Answered on the Down Payment Assistance (DPA) page.
• Which assistance programs can I use?Answered on the Down Payment Assistance (DPA) page.
• Is a non-QM loan a "no doc" loan?Answered on the Non-QM Loans page.
• What is a DSCR loan?Answered on the Non-QM Loans page.
• How do I know if refinancing is worth it?Answered on the Refinance page.
• Can I shorten my loan term with a refinance?Answered on the Refinance page.
• How much cash can I take out?Answered on the Cash-Out Refinance page.
• Is it smart to pay off credit cards with a cash-out refinance?Answered on the Cash-Out Refinance page.