Residential Mortgage

Single Family, Condo, Townhouse & Multi Family House

We are offering home loan programs in collaboration with Loan Factory. Loan Factory is a highly reputable mortgage brokerage company that has been operating in the United States for over 18 years, boasting a perfect 5-star Google rating with over 15,000 reviews. The company ranks among the top 1 or 2 home loan brokerages nationwide, comparing and providing competitive low interest rates and tailored terms for each client from a selection of 240 diverse mortgage loan products.

 

With our 20 years of experience in real estate and financial lending, combined with our dedication and integrity, we utilize Loan Factory’s cutting-edge technology, systems, and excellent programs to provide the best possible service to each and every customer. We are committed to helping you take the first step toward achieving your American Dream.

Why Loan Factory?

Top Mortgage Brokerage in the US

  • Over 900 mortgage closings per month on average (2026)
  • Licensed in 48 states
  • More than 20,000 Google review
  • Advanced mortgage technology and automation platform
  • Established since 2026

Competitive Interest Rates

  • Access to 200+ lenders and wholesale banks
  • Compare multiple interest rates, fees, and loan options
  • Shop for the mortgage solution that best fits your financial goals
  • Greater flexibility than working with a single bank

Wide Range of Loan Programs

  • Customized financing solutions based on your unique situation
  • Conventional & Government-Backed Loans (QM)
  • Non-QM Mortgage Programs
  • Purchase, refinance, investment property, home equity, and specialty loan programs

 

Fast Closings

  • Powered by advanced mortgage technology and automated systems
  • Streamlined processes designed for speed and accuracy
  • Strong lender network and efficient underwriting channels
  • Faster loan approvals and smoother closings

Why Terry Kwon?

Experience & Trust

  • Over 20 years of experience in real estate, business finance, and mortgage lending
  • Bilingual service in both Korean and English
  • Personalized financing solutions tailored to each client’s unique situation and goals

Dedicated Service

  • Directly manages your loan process from initial consultation to closing
  • Honest, responsive, and detail-oriented service
  • Committed to helping clients obtain the financing they need with confidence

Protecting Your Credit

  • Compare multiple lenders with a single credit inquiry
  • Helps reduce unnecessary credit pulls and loan denials
  • Assistance with Do Not Call (DNC) registration to minimize unwanted sales calls

Client Reviews

  • See what clients have to say about working with Terry Kwon
  • Funding Director at Milestone Point, Inc.
  • Loan Officer at Loan Factory
Google Review

Mortgage Rates – Instant Quick Quote

See Your Personalized Mortgage Rate

 

Answer a few simple questions — no document submission required — and instantly compare today’s mortgage rates, monthly payments, and closing costs from dozens of lenders.

 

✅ Compare mortgage rates from multiple lenders
✅ View estimated monthly payments and closing costs
✅ Receive a free quote and shop for the best mortgage options
✅ Fast and easy pre-qualification review

 

📞 Questions? Contact Terry Kwon at (631) 624-4480

Mortgage Rates – Instant Quick Quote

Purchase Mortgage

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Refinance Mortgage

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Home Equity Mortgage

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Important Things to Know When Getting a Home Mortgage

Mortgage Occupancy Fraud

 

If you apply as an owner-occupied residence, you must genuinely intend to live in the property.
If the purpose is to rent it out, then the loan must be processed as an investment property loan.
Providing false information may result in loan cancellation, penalties, and legal consequences…

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Condo Mortgage Types

The loan program will vary depending on the type of condo:

 

  • Warrantable Condos can be financed with a standard mortgage and may qualify for lower interest rates.

 

  • Non-Warrantable Condos require specialty (Non-QM) loans, which may result in higher interest rates and higher down payment requirements.

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Types of Mortgage Loan Programs

Mortgage loans in the United States can generally be divided into two categories: QM (Qualified Mortgage) and Non-QM (Non-Qualified Mortgage).

 

 

QM (Qualified Mortgage)

QM loans are traditional mortgage programs that are underwritten based on standard income documentation such as W-2s, pay stubs, and tax returns.

These loans generally must meet the guidelines of government agencies or conform to the standards of Fannie Mae and Freddie Mac. QM loans are the most widely used mortgage programs in the United States. A minimum down payment of 3% is typically required.

 

 

Non-QM (Non-Qualified Mortgage)

Non-QM loans are mortgage programs that use more flexible underwriting guidelines for borrowers who do not meet traditional QM requirements.

Let’s take a look at some of the most popular Non-QM programs available today.  A minimum down payment of 10% is typically required.

 

 

Learn more about the different QM and Non-QM mortgage programs available. Click the “Read More” button below to see detailed program information.

 

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Conventional QM Mortgage Programs

QM Mortgagge

  • Traditional Qualified Mortgage (QM) program
  • Competitive low interest rates
  • Down payments starting as low as 3%
  • First-time homebuyer programs available
  • Ideal for borrowers with stable income and good credit

FHA Loan

  • Designed for borrowers with lower credit scores or limited down payment funds
  • Government-backed mortgage program insured by the Federal Housing Administration (FHA)
  • Down payments as low as 3.5%
  • Flexible qualification guidelines
  • FHA 203(k) option available to finance home renovation costs

VA Loan

  • No down payment required
  • Flexible credit requirements (typically 580+ credit score)
  • Some of the lowest interest rates available
  • Available to eligible active-duty military members, veterans, and surviving spouses
  • Mortgage program guaranteed by the U.S. Department of Veterans Affairs (VA)

USDA Loan

  • No down payment required
  • Designed for eligible rural and low-population areas
  • Available for primary residences only (not for investment properties)
  • Mortgage program offered by the U.S. Department of Agriculture (USDA)
  • Income and property location requirements apply

Non-QM Mortgage Programs

Self-Employed & 1099 Borrowers

  • Ideal for self-employed business owners, independent contractors, and 1099 freelancers who may report lower taxable income on their tax returns.

Alternative Income Documentation:

 

  • Business Bank Statements: Income calculated using the most recent 12 or 24 months of business bank statements
  • P&L Loan: Income verified using a Profit & Loss Statement prepared by a CPA or tax professional

DSCR Loan
(Investment Property Loan)

  • No tax returns required
  • Qualify based on rental income rather than personal income
  • LLC ownership allowed
  • Designed for investment properties only
  • Multiple investment properties allowed
  • Ideal for real estate investors expanding their portfolios

ITIN Loan

  • Home financing available for non-U.S. citizens and non-permanent residents
  • Available for borrowers with an ITIN (Individual Taxpayer Identification Number)
  • Owner-occupied home purchases allowed
  • No Social Security Number (SSN) required
  • Qualify using ITIN and documented income

Foreign National Mortgage

  • Available to borrowers living outside the United States
  • U.S. income is not required
  • Qualification based on foreign income and assets
  • Available for investment properties
  • Available for second homes and vacation homes

Low Credit
Non-QM Mortgage

  • Non-QM mortgage program for borrowers with lower credit scores
  • Minimum credit score starting at 500
  • First-time homebuyers eligible with a minimum 580 credit score
  • Ideal for borrowers with sufficient income but lower credit scores
  • Available for primary residences
  • Eligible for home purchases, refinances, and cash-out refinances
  • Maximum LTV (Loan-to-Value): 60%–65% (program guidelines apply)
  • Maximum DTI (Debt-to-Income Ratio): 45%
  • Eligible property types include single-family homes, condominiums, townhomes, and 2–4 unit multifamily properties

No Income Verification Mortgage

  • o income or employment verification required
  • Available for primary residences and second homes
  • Minimum credit score: 620
  • Up to 55%–80% LTV
  • Purchase, refinance, and cash-out refinance
  • Single-family homes, condos, townhomes, and 2–4 unit properties
  • Available for first mortgages and second-lien home equity loans
  • Second HELOC: Minimum credit score 700
  • Second HELOC: Up to 60% CLTV (Combined Loan-to-Value)

Asset Depletion Mortgage

  • Qualify using your assets instead of income
  • Assets are converted into qualifying monthly income
  • Ideal for borrowers with substantial assets but little or no current income
  • Assets are typically calculated over 48–72 months 

Eligible Assets:

✅ Checking Account

✅ Savings Account

✅ Money Market Account

✅ Certificate of Deposit (CD)

✅ Brokerage Account (Stocks, ETFs, Mutual Funds)

✅ Retirement Accounts (401(k), IRA, etc.)

✅ Trust Accounts (Available with some lenders)

✅ Other liquid assets

Doctor Mortgage Program

  • QM and Non-QM mortgage options for physicians and other medical professionals
  • Up to 100% financing (subject to program guidelines and borrower qualifications)
  • No PMI (Private Mortgage Insurance) required
  • Loan amounts up to $2,000,000 (varies by program)
  • Flexible underwriting for physicians, dentists, veterinarians, and other eligible medical professionals
  • Eligible using an employment contract or future income
  • Available for 1-unit primary residence purchases and rate-and-term refinances

Home Mortgage Blog by Terry

Milestone Point Inc. In partnership with Loan Factory Inc. (NMLS #320841)
Licensed Mortgage Loan Officer: Terry Kwon (NMLS #2620208)

Licensed Mortgage Originator at Loan Factory

Funding Director at Milestone Point, Inc.

Residential Mortgage Licensed: AL, CA, CO, GA, IL, ME, NJ, OH, PA, NV, TX, VA, WA

Contact: (631) 624-4480
Email: terry@milestonepointinc.com
Milestone Point, Inc: 200 Garden City Plaza, Suite 215, Garden City, NY 11530

Loan Factory: 2195 Tully Road. San Jose, CA 95122

 

Disclaimer:
Loan approval is not guaranteed. Approval is subject to credit, income, assets, and other underwriting criteria.
Rates and terms are subject to change without notice.
Milestone Point Inc. partners with Loan Factory Inc. to provide access to multiple mortgage products.
All mortgage programs are offered through licensed mortgage brokers/loan officers registered with the NMLS.