Philip Doos
Loan Officer
We offer low mortgage rates available along with a convenient online loan application process supported by a team of experienced loan officers.
Bio:
· Welcome to my Page ! I’m Philip Doos, a loan officer dedicated to Help families achieve their dream of homeownership
· demystifying the mortgage process for you.
· providing tailored mortgage solutions across all loan types (FHA, VA, conventional and USDA) .
· Specialist skilled at helping buyers, investors, and real estate professionals secure competitive rates and terms.
· Like my FB Page for tips on home financing, market updates.
Annotations:
| Program name | Explanation | Best for (borrowers) | Requirements | Note |
| Conventional Loans | Most common loan program for the majority of American borrowers." (Remove "the" before "American borrowers. First-time buyer can borrow with 3% down. | Look up | ||
| FHA Loans | For borrowers with bad credit. The FICO score can be as low as 550. Minimum 3.5% down payment. Reduced waiting periods after bankruptcy, short sale, or foreclosure. Lower rates compared to conventional loans, but the borrower must pay upfront PMI of 1.75% and monthly PMI. | |||
| VA Loans | Most current and former U.S. military personnel can qualify. No down payment and no monthly mortgage insurance. Rates are lower than conventional loans. You can call your VA administration to ask if you qualify. | |||
| USDA Loans | For rural areas and income cannot be too high. You can check if a property qualifies. | Look up | ||
| Jumbo Loans | A home loan that exceeds the loan limits set by the FHFA. They are non-conforming, with strict qualification criteria on FICO, down payment, and DTI. Rates are usually higher than high-balance (conventional) loans. | High-cost areas where home prices exceed the conforming loan limit. You are looking to purchase a luxury property or a larger home that requires a larger loan amount. | Look up | |
| HELOC | A loan that allows you to borrow against the equity you've built up in your home. Equity is the difference between your home's current market value and the amount you still owe on your mortgage. HELOCs are typically revolving lines of credit, meaning you can borrow money, repay it, and then borrow again as needed, similar to a credit card. | Need Flexible Borrowing: You want access to funds as needed, rather than a lump sum like a home equity loan. Plan to Repay Quickly: If you can repay the borrowed amount during the draw period, you can save on interest costs. Are Comfortable with Variable Interest Rates: Be prepared for potential payment fluctuations if interest rates change. | High credit score, stable income, low DTI (usually max 43%), and home equity minimum of 15-20%. | |
| No Doc Loans | No Doc Loans are a type of mortgage where the lender doesn't verify your income or debt-to-income (DTI) ratio. Instead, they focus on your credit history, assets, and the down payment you can provide. | Who can’t qualify for other programs and still want to buy a primary home. | Min FICO 660 Have large down payment at least 20% (can be gifted) Need at least 2 active tradelines more than 12 months 9-24 months of reserves based on LTV and FICO. | |
| Investor (DSCR) Loans | Qualify by using Market rent (form 1007), Short term rent (12-month statement) or Rentalizer (AirDNA). No income required. DSCR = Net Operating Income / Total Debt Service. | Who want to buy an investment home but not qualify for a conventional loan. | 3 tradelines more than 12 months At least 15% down payment (can be gifted) Good credit history. | LTV 85% required DSCR > 1.2 LTV 80% required DSCR > 1 LTV 75% required DSCR > 0.75 LTV 70% with DSCR = 0 allowed. |
| 12 months Bank Statement Loans | A type of mortgage that uses the borrower's bank statements to verify their income, rather than traditional income documentation like W-2s or tax returns. | This is suitable for self-employed borrowers, business owners, freelancers, and others who may not have standard income documentation. | At least 10% down 3 tradelines more than 12 months | |
| Profit and Loss Loans | Use the borrower's Profit and Loss (P&L) statement to assess their income and ability to repay the loan. | Self-Employed only. | 3 tradelines more than 12 months At least 15% down payment (can be gifted) Good credit history. Most lenders require income deposits of at least 75% of income on the P&L to the bank account. | |
| 1099 Loans | A type of mortgage designed for self-employed borrowers or independent contractors who receive income reported on a 1099 tax form. Income is calculated by Income is calculated by multiplying the income amount by 0.9 and dividing by 12. Some lenders allow you to use 100% of the amount. | Independent contractors who receive income reported on a 1099 tax form. | 3 tradelines more than 12 months At least 20% down payment (can be gifted) Good credit history. | |
| WVOE | This program is for salaried/wage employees who, for some reason, can’t provide W-2s and pay stubs. Need to work for the same employer for at least 2 years (1 year is acceptable, but few lenders allow that). We use the amount on WVOE (form 1005) as borrower’s income. | Salary / Wage earner employee Some Lenders also accept 1099 self employed if they work for the same employer for more than 2 years. | 2 years employment history. | |
| Foreign National Loans | This program is the same as DSCR. Qualify by using one of following: • Foreign income • Market rent (form 1007) • Short term rent (12-month statement) • Rentalizer (AirDNA) | Foreign nationals who don’t have an SSN. | International Credit report (if applicable) Foreign income (if go with foreign income) US Bank Account or US LLC Visa (some lenders require US Visa). | Note: All foreign documents must be translated into English by Licensed Translator. |
Asset Depletion/Asset Utilization/Assets as ATR/ATR in Full (ATR: Asset Turnover Ratio) | A type of mortgage that allows borrowers to qualify for a loan based on their assets rather than their income. This makes them particularly attractive to high-net-worth individuals, retirees, or those with significant investments who may not have a steady income stream. | Who has a lot of assets in their bank /stocks accounts. | 3 tradelines for more than 12 months; at least 20% down payment (not all lenders allow gift funds). Good credit history. |
Phone: (925) 922-7741
NMLS#: 2379827
License: CA
Spoken Language: English, Arabic
Why are our rates so low?
- 1. WE SHOP RATES FOR EVERY LOAN: We compare rates from 218 lenders in real-time for you.
- 2. WE NEGOTIATE FOR YOU: Loan Factory is the fastest-growing Mortgage Broker in the US. Because we have closed so many loans, we can negotiate and obtain ridiculously low rates from lenders.
- 3. WE LOWER OUR PROFIT: Our profit per loan is much lower than that of our competitors. We aim to earn your business and your referrals.
OUR ACCOMPLISHMENTS
218+
Number of Lenders
9320+
1485+
Ready To Get Pre-Approved?
We're here to help you to get the best deal in the market
Services We Offer
Home Purchase
Are you a first-time home buyer? Let's make an easy start with us. We will guide you through all the paperwork. All you need to do is to trust us and relax.
Refinance Low Rate
Need to refinance to get a better rate? We will get great deals for your financial plan. As rate is updated in real time from lenders, your refinance plan will just get better.
Refinance Cash Out
A cash-out refinance is one of several ways to turn your home's equity into cash. We will help you with your financial plan.
Why Loan Factory?
Experience
Thousands of closed home loans since 1989.
Fast Approvals
Same Day or Within Hours of loan application.
Automated Loan Status
Client and Real Estate Agent Communication Portals.
Rate Tracker
Customized Real Time Rate Quotes.
Close On Time
Our "Whatever it Takes" Team Follow Up System.
Co-branded Marketing
Professional 5 year Email and Print Campaigns.
Why Us
Independent Advice.
We commit to always give you independent advice regarding real estate and mortgage options.
Customer First.
We make less per loan than competitors and pass the extra savings to borrowers.
Low Available Rates
You will always get great deals with our real-time pricing engine.
Fast, Convenient, Local Service.
we are just one call away from your requirement.
Rudy provided a great buying experience for me in purchasing a home in Monterey Park, CA. He knew the area well, provided excellent guidance, responded quickly when I had questions, and also help me negotiate a highly competitive house that was hot on the market. Thanks Rudy!
Aileen was a pleasure to work with, she helped us to buy a home which we were waiting for a long time. She goes above and beyond to get things done on time. Very prompt in follow ups, responding to emails and text messages. I strongly recommend Aileen if you are buying a house, you can rely on.
Michael is a professional and a gentleman. He was always on time; always prepared; always willing to go the extra mile. He answered all of our questions and provided details and explanations when we were puzzled. He was never flustered, never in a hurry, and never angry. Michael was a pleasure to work with. We are immensely satisfied with Michael's service.