Big Mortgage News You Probably Haven’t Heard Yet
If you know me, you know I stay on top of the real estate world, so you don’t have to — and today, I want to share something that honestly shocked even me.
Significant shifts are happening in the Non-QM lending world (Non-Qualified Mortgages), opening doors for buyers who, up until now, were pretty much told “no” or “come back in a year or two.”
And when I say major… I mean pre-2008 level flexibility.
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Let me walk you through what’s changing — and what it means for you if you're self-employed, newly 1099’d, hoping to buy in an LLC, or on maternity leave.
1. Only 10% Down for Newly 1099’d Buyers
(Yes… this is real.)
Almost no one is talking about this, but they should be:
A new Non-QM loan option is allowing 10% down — even for buyers who just became 1099 independent contractors.
That means:
- You can be newly self-employed
- You can be newly 1099’d
- You can be W2, 1099, or both
- You do not have to wait 1–2 years like before
- You can qualify using deposits into a personal bank account (not business)
This is huge, because historically:
- Bank statement loans required 20% down
- Borrowers had to be 1099 for at least 12–24 months
- Lenders wouldn’t use personal bank deposits as proof of income
- You basically had to prove you were fully self-employed
This new program flips all of that on its head.
Why this matters
It opens the door for everyday professionals who might not have tax returns that tell their full story — hairstylists, realtors, consultants, contractors, freelancers, creatives, and anyone who just stepped into 1099 life after years of W2 work.
Is this level of flexibility a little wild? Yes. It feels very pre-2008.
But… when it helps buyers get into homes responsibly? We’re not turning it down.
2. Taking Title in an LLC at Closing
(This is the question I get weekly.)
If you’ve ever asked, “Can I buy my primary residence in an LLC?” — here’s the short answer:
Only Non-QM lenders allow it at closing.
Traditional lenders — Fannie Mae, Freddie Mac, FHA, VA, jumbo lenders — all require borrowers to take title in their personal name.
Here’s how it works:
Allowed:
- Vesting / taking title in an LLC at closing → Non-QM only
Not Allowed:
- Vesting in an LLC with a standard QM loan (Fannie, Freddie, FHA, VA)
What about deeding it into an LLC after closing?
You can do that…
But there are risks:
- Your lender can technically call the loan due
- It may affect insurance
- It can complicate liability protection
- You must follow very specific steps to do it safely
But here’s the really interesting part:
Some Non-QM rates are now similar to regular mortgage rates.
That means more buyers are starting to consider these programs — not because they lack qualification, but because they want the flexibility an LLC offers.
3. Buying a Home While on Maternity or Family Leave
(This one surprises people the most.)
Here’s the good news:
YES — you can absolutely close on a home while on maternity or family leave.
I see this often because growing families usually need more space… and more space often means getting pre-approved, which apparently triggers baby announcements. 😉
Here’s what the lender needs:
✔️ A letter from your employer confirming:
- Your official return-to-work date
- Your income while on leave
- That you will return at the same pay rate
- That you will return to the same number of hours
✔️ A letter from you confirming the same information
That’s it.
You do not have to be actively working on the day you close.
So What Does All of This Mean for You?
We’re seeing a wave of new flexibility in the lending world — the kind we haven’t seen since before 2008 — and while some of it feels almost too generous, it’s opening doors for real people who deserve real options.
If you are:
- Newly 1099
- Self-employed or hybrid-employed
- Wanting to buy in an LLC
- On maternity or family leave
- Turned down by a traditional lender
- In need of creative financing
- An investor wanting maximum privacy and protection
Then this new generation of Non-QM loans might be exactly what you need.
How to Get Started Buying a Home in Richmond, TX
Hi, friend. I wanted to make this blog post customized to Richmond, Texas, in hopes that I get to be your real estate agent. Whether you are relocating to Richmond, Texas, or you’ve lived here a long time, I want to be considered your resource and your realtor here in Richmond. This area is incredibly special, and helping people plant roots here is one of my favorite things to do.
Schedule a Call with Jordan – Link
The first step in buying a home in Richmond is getting clear on what you’re looking for and what lifestyle you want to create. Richmond offers so much—quiet, wooded neighborhoods, new construction communities with amazing amenities, excellent schools, and quick access to The Woodlands and Houston. Whether you want walkable convenience, a larger lot, or a community full of amenities, identifying your priorities makes the entire process smoother and more enjoyable.
Next comes getting pre-approved, and this is where having the right lender matters. Richmond is a competitive market, and being fully pre-approved helps you move confidently and quickly when the right home shows up. There are more lending options than most buyers realize, including programs for W-2 buyers, 1099 workers, newly self-employed individuals, and buyers with unique financial situations. A knowledgeable lender can help you explore conventional, FHA, VA, and non-QM options and show you which one aligns best with your goals.
From there, we start house hunting together. I’ll help you learn the neighborhoods, compare different pockets of Richmond, review recent sales, and understand what makes each area unique. We’ll tour homes, narrow down your favorites, write a strong offer, and walk through inspections, appraisal, and closing step by step. My goal isn’t just to help you buy a home — it’s to help you feel confident, supported, and informed the whole way through. And when you’re ready, I would truly love to be your Richmond, Texas realtor.
Ready to Take the Next Step? Let’s Chat.
If Richmond, Texas is on your heart — whether you’re moving here or moving within the area — I would love to walk this journey with you. You deserve a realtor who listens, educates, advocates, and truly cares about your future home.
If you’re ready to talk through your plans, ask questions, or simply explore your options, you can schedule a call with me here:
Schedule a Call with Jordan – Link
Final Thoughts from Me
Remember, my goal is always to be your resource — not just your realtor.
Mortgage rules are constantly changing, and I want you to know your options so you can make the best decisions for your future home.
If you have questions about:
- Whether you qualify
- Whether this loan type makes sense for your situation
- How to safely buy using an LLC
- What lenders are offering right now
- Or how to line things up while on leave
I’m here.
Whenever you’re ready, I’m ready.
Jordan, Jo & Co. | “My goal isn’t just to be your realtor, but your resource.”
P.S. Here are fun links to homes for sale…
- Homes for Sale in Richmond with a Swimming Pool – Link
- New Construction for Sale in Richmond – Link
- All Homes for Sale in Richmond – Link
- Homes for Sale in Richmond under $400k – Link
- Homes for Sale in Richmond priced between $400k and $500k – Link
- Homes for Sale in Richmond priced between $500k and $600k – Link
- Homes for Sale in Richmond priced between $600k and $800k – Link
- Homes for Sale in Richmond priced over $900k – Link
- Homes for Sale in Richmond Built between 1960 and 1980 – Link
- Homes for Sale in Richmond Built between 1980 and 1990 – Link
- Homes for Sale in Richmond Built between 1990 and 2000 – Link
- Homes for Sale in Richmond Built between 2000 and 2010 – Link
- Homes for Sale in Richmond Built between 2010 and 2020 – Link
- Homes for Sale in Richmond Built after 2020 – Link
Thank You!
I hope you have found this blog post super helpful. If there is anything else we can do for you, including helping you sell (or buy) a home, I would be honored to assist. I hope you have a great day/evening. Cheers, E + J.
We are so happy you found our little corner of the interwebs. We look forward to y'all reaching out to us. We love to answer questions and welcome them. Recently we created some local maps, and you can download those by clicking the image/link above. Below, you will find an index of some very helpful information to assist you in learning more about the Houston suburbs. If you are relocating to our neck of the woods, we hope you reach out to us, because we would love to help you by being your local realtor and friend. Thoughtfully written for you. Hugs, Jo.
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If you are overwhelmed…
Now if you are feeling overwhelmed on where you should plant your roots, I would love to talk to you. You can schedule a call with me by clicking this link: http://byjoandco.com/call or just send us an email: [email protected]. There are some amazing communities all over the Houston suburbs. In this post, https://search.byjoandco.com/blog/best-neighborhoods-in-houston/, I deep dive into all the different suburbs/neighborhoods that you might want to consider, and why. There are many resources here, so please reach out if you are curious about what to look at next! Thank you for trusting us.
What next?!
• Navigate our Blog: https://byjoandco.com/categories-to-help-you-navigate-the-blog/
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