San Diego · Orange · Riverside County
Buying a home is hard enough. I make the financing the easy part.
Fifteen years getting loans done across Southern California — including the ones other people couldn't. Straight answers early, no runaround, and a rate priced to your actual situation.
Nick Richardson · NMLS 966361 · Prime Investment Financial · NMLS 2460565
Fifteen years. Carlsbad based. Three counties.
What I can get done for you
One place, one person- Get pre-qualifiedKnow your number before you shop
- Buying a homeFirst home, move-up or second home
- First-time buyer programsIncluding low down payment options
- RefinancingLower the rate or shorten the term
- Cash-out and HELOCPut the equity to work
- Investment property loansSingle unit through multi-unit
- DSCR loansThe property qualifies, not your tax return
- 1031 exchange financingTimed to the exchange, not against it
- Self-employed and bank statementWhen the tax return understates you
- JumboAbove the conforming limit
- VAIncluding entitlement reuse and second-tier
- FHA and conventionalThe straightforward ones, done properly
Recent work
A retiree bought an investment property through a 1031 exchange using DSCR financing — closed in 22 days without touching his IRA.
Straight answers
If a loan is not the right move yet, you will hear that first. The plan to get there costs nothing.
Prime Investment Financial, Inc. · NMLS #2460565 · DFPI #60DBO-179012
7851 Mission Center Court, Suite 260, San Diego, CA 92108 · (760) 402-6962
About Nick
NMLS 966361
Bio
I've been getting loans done in Southern California for fifteen years. I've seen rates at 3% and I've seen them at 8%, and I've watched good people talk themselves out of good decisions at both.
Before this I worked in corporate treasury at two banks and started a services business of my own. That's a roundabout way of saying I was reading financial statements for a living long before I read one of yours — which matters more than you'd think when you're self-employed and your tax return doesn't look like a W-2.
I live in Carlsbad. I've got a seventeen-year-old son, and I coached his flag football team for years, which taught me more about explaining something clearly to someone who's only half-listening than any job ever has. Useful skill in this one.
What you get from me is a straight answer early. If a loan isn't the right move yet, you'll hear that first, and the plan to get there costs nothing. If it is the right move, you'll know what it actually costs before you're emotionally attached to a house.
Brown University, Business Economics. Certified Cash Manager. Fifteen years, three counties, one phone number — and I answer it.
At a glance
Licensed: California
Originating: fifteen years
VA approved: yes — including entitlement reuse and second-tier
Handles: jumbo, self-employed and bank statement, VA, FHA, first-time buyers, conventional, DSCR and investment, refinance and HELOC
Based: Carlsbad — serving San Diego, Orange and Riverside County
Contact card
(760) 402-6962
nick@richardsonloans.com
NMLS #966361
Prime Investment Financial, Inc.
7851 Mission Center Court, Suite 260
San Diego, CA 92108
Loan programs
Conventional
Conforming and high-balance. First-time buyer options.
Jumbo
Above the county limit. Most of coastal San Diego and Orange.
FHA
Lower down payment, flexible credit.
VA
Entitlement, reuse, multiple properties, no limit with full entitlement.
DSCR & investment
Qualify on the property. 1031 exchange pairing.
Bank statement
Self-employed without tax returns.
Asset depletion
Retirees with assets and no W-2 income.
Refinance & HELOC
Rate/term, cash-out, second position.
+ Room to grow
Non-warrantable condo, foreign national, bridge, construction.
Coming soon
Get pre-qualified
Get pre-qualified
The online pre-qualification tool is being built. In the meantime Nick handles these personally, usually same day.
Coming soon
Apply now
Apply now
The full online application is being built. Call or email Nick and he will get you started right away.
Your rate
Why there is no rate table here
Every rate you see advertised comes with assumptions buried underneath it — a credit score, a down payment, a property type, points paid up front. Change any one of them and the number changes. Which makes a published rate a decent way to get your attention and a poor way to plan.
So rather than post a number that almost certainly is not yours, I will price your actual situation and tell you what it costs. It takes one conversation, there is no application to fill in first, and nothing about it obligates you to anything.
If your rate is not competitive, I will tell you that too. That happens, and you are better off knowing.
Get a real number
Tell me the price range, roughly what you are putting down, and whether you are buying or refinancing. That is enough to price it.
Call (760) 402-6962Send it in writingWork the numbers yourself
Payment, affordability, rent versus buy, refinance break-even, DSCR and VA entitlement — all on the calculators page, no contact details required.
CalculatorsCalculators
Pick the question you actually have. Everything runs in your browser — nothing is sent anywhere, nothing is stored, and none of it is a quote.
Monthly paymentWhat will this actually cost me every month?
Most quoted payments are principal and interest only. This adds the property taxes, insurance, HOA and mortgage insurance that turn up on the real statement — usually a third more than the number people remember hearing.
AffordabilityWhat price should I even be looking at?
Work this out before you start looking, not after you have found the house. It turns your income and existing debts into a price range a lender would actually agree with, which is the number that matters when an offer goes in.
Rent vs. buyIs buying actually better than renting, and from when?
Buying beats renting eventually; the question is whether you will still be there when it does. This finds the year owning pulls ahead once the down payment, closing costs, upkeep and selling costs are all counted against equity and appreciation.
Refinance break-evenIs refinancing worth what it costs to do it?
A lower rate is not automatically a better deal. This is how many months of savings it takes to earn back the closing costs. If you expect to sell or refinance again before that month, refinancing loses you money.
Rental cash flowWill this property pay for itself every month?
The number most first-time investors get wrong, because they forget the months it sits empty and the cost of someone else managing it. Vacancy, management and maintenance are where a property that looked positive turns negative.
Read how a retiree bought an investment property without qualifying on income →
Investment property break-evenHow long before I have my money back out of it?
Cash flow tells you about this month. This tells you about the hold. It counts the down payment and closing costs going in, then how many years of rent, net of every expense and the mortgage, it takes to get that cash back — and separately, when you are whole once equity is counted.
Read how a retiree bought an investment property without qualifying on income →
DSCR ratioCan the property qualify instead of me?
On a DSCR loan the lender looks at the rent against the payment, not at your tax return. Work out the ratio before you apply and you will know which programs are open to you. Nearly nobody local offers these.
VA entitlementHow much VA buying power have I got left?
If you have never used your VA benefit, there is no loan limit at all and no down payment, whatever the price. If you have used part of it and still own that home, the arithmetic changes — this shows what is left and what a second purchase would need.
Blog
Latest articles
| He retired at 57 — so we qualified the property instead of the person DSCR after a 1031 exchange · closed in 22 days |
| Buying a home for your parents without investment property rates The Fannie Mae exception most lenders never mention |
Why these articles
Every article here comes out of a real file — a situation that came across this desk with a solution most people did not know existed. No generic market commentary.
Coming next
More on the way: reusing a VA loan, owning two VA homes at once, and the loans that need no tax returns. If there is something you want explained, ask — it will probably become the next one.
Areas served
San Diego County
Priority. Carlsbad, Encinitas, Oceanside, Vista, San Marcos, Del Mar, La Jolla, Chula Vista.
Orange County
Irvine, Mission Viejo, Huntington Beach, Newport, Anaheim.
Riverside County
Temecula, Murrieta, Corona, Riverside, Menifee.
Reviews
What people actually said
Their wordsRated 4.94 out of 5 across 17 reviews on Zillow. Nothing here was typed onto this page — every one is published on the platform under the reviewer's own name, and the link below goes straight to them.
What comes up most: straight answers early, availability outside business hours, and the patience to explain the same thing twice.
“He was extremely patient and spent multiple hours spread out throughout the process filling me in on the ins and outs of loans/real estate. He was quick to respond and able to secure us a great rate! Icing on the cake - he's a cool guy and we had a couple laughs along the way.”
Jwalk129, first-time buyer
“Nick went above and beyond our expectations to make sure that we had everything we needed to close on time even amidst the COVID-19 pandemic, related closures, and an unexpected event on our side.”
Sarah E.
“Nick and team did the impossible for me - from start to finish they were able to get my mortgage done in about 10 days.”
Jeff McQuigg
Sources
Zillow — 4.94 out of 5 across 17 reviews. The same 17 are mirrored on Experience.com, so it is one set, not two.
Reviews live on the platforms rather than being collected here, which means nothing on this page can be edited by us.
Resources & FAQ
The questions that come up most, answered plainly.
Can I get a mortgage without tax returns?
Often yes. Bank statement programs qualify you on deposits over 12 or 24 months instead of returns. Asset depletion converts savings and retirement balances into qualifying income. For investment property, DSCR qualifies the property on its own rent. These carry higher rates and larger down payments than conventional, but for a self-employed borrower with heavy write-offs or a retiree without a W-2 they are frequently the difference between yes and no.
Can I use my VA loan more than once?
Yes. Entitlement is restored in full once a VA loan is paid off and the property sold, and there is a one-time restoration available if you keep the property. With full entitlement there is no VA loan limit — which matters a great deal in a county where the median is over a million dollars. It is also possible to hold two VA loans at once using second-tier entitlement, which is what the rule was written for when orders arrive and the first house will not sell.
What documents will I need?
W-2 employed: two most recent pay stubs, last two W-2s, two months of bank statements, photo ID.
Self-employed: two years of returns with all schedules, year-to-date profit and loss, two months of business and personal statements — or 12 to 24 months of statements only, on a bank statement program.
Retired: award letters, 1099s, two months of statements for any account being used.
Investment property: the lease or a rent schedule, plus the same asset documentation.
How long does it take?
A pre-qualification conversation takes about twenty minutes and you will have a letter the same day in most cases. From accepted offer to funding, a straightforward purchase runs 21 to 30 days. Files with unusual income or a tight exchange deadline can move faster when the paperwork is ready up front — the 1031 file described in the blog closed in 22 days.
What is the difference between pre-qualified and pre-approved?
A pre-qualification is based on what you tell me — income, assets, credit range — and is enough to start shopping. A pre-approval adds verified documents and a credit pull, and carries considerably more weight with a listing agent. In a competitive market it is worth doing the second one before you write an offer.
How much do I need for a down payment?
VA can be zero down with full entitlement. FHA starts at 3.5 percent. Conventional starts at 3 percent for qualifying first-time buyers and 5 percent otherwise. Jumbo typically starts around 10 percent. Investment and DSCR generally start at 20 to 25 percent. California also runs down payment assistance programs through CalHFA that are worth checking before you rule anything out.
I was told no somewhere else. Is that the end of it?
Frequently not. A lot of declines come from a file being looked at the wrong way rather than a borrower who genuinely does not qualify — self-employed income read off the wrong line, a retiree measured against a paycheck they do not have, an investor counted against conventional property limits. It costs nothing to have a second look.
Contact
Call, text or email — whichever is easier. Messages sent here reach Nick directly.
Send a message
Direct
(760) 402-6962 · call or text
Prime Investment Financial, Inc.
7851 Mission Center Court, Suite 260
San Diego, CA 92108
Serving San Diego, Orange and Riverside County. Calls after five are normal here.
Save my details
Scan with your phone to open this page and save Nick in one tap.
Saves the number, email and website together — so if you pass my name along, it goes with me.
Coming soon
Agent sign-up
Agent sign-up
The agent portal is being built. Nick is onboarding partner agents personally in the meantime.
Coming soon
Agent dashboard
Agent dashboard
Coming soon — partner agents will be able to track every client here.
Coming soon
Agent co-marketing
Agent co-marketing
Coming soon — co-branded flyers and materials for partner agents.
Coming soon
Escrow portal
Escrow portal
Coming soon — shared file status for escrow officers.
Coming soon
Borrower portal
Borrower portal
Coming soon — track your loan and upload documents in one place.
Coming soon
Letter approval queue
Coming soon
Partner analytics
Coming soon
Content manager
Compliance
Licensing & disclosures
Verify any licence below at nmlsconsumeraccess.org.
Prime Investment Financial, Inc. · NMLS #2460565 · DFPI #60DBO-179012
7851 Mission Center Court, Suite 260, San Diego, CA 92108
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Questions
Nick Richardson · nick@richardsonloans.com · (760) 402-6962 · Prime Investment Financial, Inc., 7851 Mission Center Court, Suite 260, San Diego, CA 92108.
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Blog
He retired at 57. Buying another rental would have cost him a penalty — so we didn't use his income at all.
A DSCR loan qualified him on the property instead of the person, and the 1031 clock still had time on it.
A client came to me last quarter in a good position that looked, on paper, like a bad one. He'd retired in his late fifties. Plenty of assets. No paycheck.
He was selling an investment property and wanted to roll the proceeds into another one through a 1031 exchange. Straightforward enough — except that to qualify for a conventional loan he needed documented income, and the only way to produce it was to start pulling from his IRA earlier than he'd planned. Distributions before age 59½ generally trigger a 10% additional tax on top of ordinary income tax. He'd have been paying a penalty for the privilege of proving he could afford a loan he could obviously afford.
So we stopped trying to qualify him and qualified the property instead.
What a DSCR loan actually does
DSCR stands for debt service coverage ratio. Rather than looking at your tax returns, pay stubs or W-2s, the lender looks at whether the property's rent covers its own mortgage payment, taxes, insurance and any HOA dues. If the rent covers the payment, the loan works.
That's the whole idea. Your personal income doesn't enter into it.
For a retiree, a business owner with heavy write-offs, or anyone whose real financial picture doesn't show up neatly on a tax return, this changes what's possible. He kept his IRA untouched, avoided the early distribution entirely, and the property carried itself.
Why the timeline mattered more than the rate
A 1031 exchange runs on a clock that doesn't care about anyone's schedule. You have 45 days from the sale of the old property to formally identify the replacement, and 180 days to close on it. Miss either deadline and the exchange fails — which means the capital gains you were deferring come due.
That's the pressure a lot of people underestimate. They find the right property, then discover their lender needs six weeks and a stack of documents nobody has.
We closed in 22 days. Not because anything was rushed, but because a DSCR file has fewer moving parts. There are no tax returns to analyse, no employment to verify, no letters of explanation about a business's write-offs. The property either supports the payment or it doesn't.
Who this fits
DSCR isn't for everyone and it isn't free — pricing generally runs above conventional, and down payment requirements are higher. It earns its keep in specific situations:
You're buying an investment property, not a home you'll live in. Your income is hard to document, or documenting it would cost you something — a penalty, a tax bill, a business decision you'd rather not make. You're on a deadline. Or you already own several financed properties and conventional guidelines have started counting against you.
If two or three of those are true, it's worth a conversation. And if you're in the middle of a 1031, have that conversation before you identify the replacement property, not after.
Wondering whether this fits your situation? Tell me what you're working with and I'll tell you straight whether it's a fit. → Get in touch
Nick Richardson · NMLS #966361 · Prime Investment Financial, Inc. · NMLS #2460565 · DFPI #60DBO-179012. Not a commitment to lend. All loans subject to credit approval, income and asset verification, satisfactory appraisal and program guidelines. Nothing here is tax advice.
Blog
Buying a home for your parents doesn't have to mean investment property rates.
There's a Fannie Mae guideline most people have never heard of — and plenty of lenders don't offer.
Here's the situation I see more and more of. A parent is getting older. Their income is fixed, or they've stopped working, and they can't qualify for a mortgage on their own. The adult child can afford to help. Nobody wants assisted living if there's a better option.
The child calls a lender, explains they're buying a house they won't live in, and gets quoted investment property terms — twenty to thirty percent down and a noticeably higher rate. A lot of families stop right there, assuming that's the only door.
It usually isn't.
The exception
Fannie Mae's guidelines include a narrow family occupancy exception. If you're buying a home for an elderly parent who can't reasonably qualify for a mortgage on their own — because they're unable to work, or their income is too low — the loan can be treated as owner-occupied financing even though you won't be living there. Freddie Mac has similar flexibility.
Owner-occupied treatment means primary residence pricing and primary residence down payment requirements. Against a twenty or thirty percent investment property down payment, that difference is often what decides whether the family can do this at all.
Some people still call this the Family Opportunity Mortgage. Fannie Mae doesn't use that name anymore, and it was never a separate loan product — it's an exception inside conventional guidelines. That naming confusion is part of why so few borrowers know it exists.
What people get wrong
The parent doesn't have to be on the loan. This is the one I correct most often. You're the borrower, qualifying on your own income and credit. Your parent is the occupant. They don't need to co-sign, and in most of these cases the whole point is that they couldn't.
The relationship isn't enough on its own. The test is whether the occupant could qualify independently. A parent with strong income who simply prefers you handle it doesn't fit. Neither do siblings, cousins, friends, or a vacation place.
It has to be their primary residence. Not a rental, not a second home you visit.
You still have to qualify normally. Standard credit, standard debt-to-income, and you'll be carrying this payment alongside your own housing costs.
And one thing that isn't a misconception so much as a warning: if any lender suggests putting your parent on the loan and shading their income or employment to make it work, walk away. That's fraud, and everyone at the table owns the consequences.
Why you may have to ask twice
This isn't a product a lender markets, so plenty of loan officers quote investment property terms reflexively and never look further. If you get that answer, ask specifically about Fannie Mae's owner-occupant exception for an elderly parent and make them explain why you don't qualify. Sometimes the honest answer is that you don't. Often the answer is that nobody checked.
Thinking about this for your own family? Tell me the situation and I'll tell you whether it fits. → Get in touch
Nick Richardson · NMLS #966361 · Prime Investment Financial, Inc. · NMLS #2460565 · DFPI #60DBO-179012. Not a commitment to lend. Guidelines change; eligibility confirmed at underwriting.