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Bill Rapp, Mortgage Originator: NMLS 228246
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HERE'S WHAT MY CLIENTS SAY:
What People Are Saying:
Excellent Service
Bill is an exceptional loan officer. He helped us to purchase our home with very personal and professional service. He helped us navigate the whole process from start to closing without any problems. We didn't think we're qualified to purchase a house, but Bill went above and beyond to find a way to help us achieve our goal. He always responded very quickly with our requests, he would come back with different options with comparison chart to clearly indicate how much we need for down payment, monthly payments, interest rates, closing costs etc.
We would highly recommend Bill to anyone in need of lending services. In fact, we have already recommended Bill to one of our friends on purchasing a house.
--- David Chan - Houston, TX
Bank Statement Lending!
William Rapp of Network Funding, L. P. was very professional and I felt comfortable in dealing with him. I will definitely recommend him to family and friends.
--- Ian F - Missouri City, TX
Professionalism - Expert In Home Style Loan
Bill is an expert in the topic, his explanations and online material make a difference and he is always there from the beginning to the end. He is committed to make thing happen.
--- Felipe Caldern & Carolina Angel Gutierrez
Great Service!
Bill Rapp's handling of our loan (even though out of state) was unparalleled to any service I have been through prior, including 3 different real estate transactions and multiple refinances. Extremely quick close, with great options and flexibility for my families needs. All around A+
--- Chris & Beth Sheehan - San Jose, CA
Knowledgeable and Responsive!
Bill was a pleasure to work with and he made the loan process fairly easy. He answered all questions I had very quickly and was straight forward in doing it. I would recommend Bill to others.
--- Wes Brady - Richmond, TX
Very professional and always returned our calls!
Bill takes a lot of pride in his job and is very dependable. They were very patient and understanding. He went out of his way and explained all my questions and concerns. They were very professional and returned my phone calls and emails. He did a great job and I fully recommend him.
--- Therese, Malcom & Shirley Teixeira - Katy, TX
Great Job!
Bill helped us out from beginning to end of loan process. The loan closed in a timely manner as Bill worked hard with bank to get our to the final steps.
--- Kamal & Theresa Wilson - Hartford, CT
Avid Problem-Solver and Absolute Pleasure to Work With!
Bill Rapp worked very hard to ensure that we closed our loan and were able to move into our new home. He always had alternatives to any problems we encountered while closing. He worked with us from the beginning identifying solutions to any problems that we were having. He was an absolute pleasure to work with!
--- Nikita Rayani & Sanit Tejani - Houston, TX
Awesome to work with!
Being a first-time buyer I came in with lots of questions and concerns. Bill was always available for any questions I had and answered everything to my satisfaction. Bill made the loan process so painless that I could still concentrate on other things. We ended up closing early which made things even better. If you are in need of a lender and want someone who is very approachable and stays on top of your loan then Bill is your guy.
--- Cesar Raya - Richmond, TX
Loan Declined by my bank, and he saved the day!
Bill, did an amazing job helping me close on my house. He took the reigns and reassured me the best route to take to help close. He was accountable, thorough and trustworthy. I will continue to work with Network Funding, L.P. when it comes to home buying in the future because of the quality of service Bill gave.
--- Jacob Smith - Boerne, TX
Bill Rapp Will Definitely Make It Happen!
Bill is the most kind, patient and helpful person I have ever known. He answers his phone calls and emails promptly. You can ask him a million questions, and he will answer each and every one of them. Before I started working with Bill, I had been turned down for a home loan, because of some past credit issues I had, plus I was a single mother. However, once I started working with Bill, he was able to quickly get me a home loan, with a good interest rate. I would recommend that you call him, as he will help you.
--- Corinne Wilson - Roselle, NJ
Knowledgeable, Honest, Trustworthy, and Reliable!
"I will definitely keep you in mind. If anyone I know needs financing, I will send them your way!"
--- Jon & Andrea Saleem, CRPC Financial Advisor - Houston, TX
Best Dam Mortgage Guy a man could know!
"Hands down the best loan experience to date!"
--- Gabe & Chelsea Jackson - Pearland, TX
Phenomenal, Hard Working and Never Quits!
Had a stupid foreclosure that could have been avoided if ex’s attny would have sent my buy out offer. So Bill was able to push this through with a 4 year foreclosure. He worked his butt off, was very diligent with his communication; and was very professional talking to me even when I was screaming and/or crying at him. Highly recommend this lender. He really go to the ends of the earth to help you!
--- Liz Keeter - Harlingen, TX
Exceptional customer service!
Bill is the most kind, patient and helpful person I have ever known. He answers his phone calls and emails promptly. You can ask him a million questions, and he will answer each and every one of them. Before I started working with Bill, I had been turned down for a home loan, because of some past credit issues I had, plus I was a single mother. However, once I started working with Bill, he was able to quickly get me a home loan, with a good interest rate. I would recommend that you call him, as he will help you.
--- Isha Lopez & Mauricio Garcia - Houston, TX
Service with a capitol S
Bill went above and beyond at every turn. He worked late on Saturday, he worked late all the time. We wanted to close ASAP and he really helped make it happen for us.
--- Jeff & Wendy Heger - Houston, TX
Best Buying Experience!
I would would highly recommend going with Network Funding LP. As a first time home buyer I didn't know what to expect. Bill Rapp was very helpful in answering all my questions and guided me through all ghe steps. I couldn't have asked for a better buying experience!
--- Tabitha Turner - Humble, TX
Would recommend him and use him again!
Very involved and professional . Kept me informed and up to date on everything that was going on Went with me closing and was very helpful and knowledgeable.
--- Kathy Ward - Houston, TX
Great experience!
Well I meet bill back in December 2016 he got recommended by my real estate agent we had a house in sight and started the process to get approved but we fail due to my work history and credit bill told me not to give up and put me in contact with a credit repair company they help me bring my score up and bill walk me thru the process of getting a new line so this time around we got approved before looking for our house after we found it we still had a couple of hick up but with bills help on Sunday 6-18-17 to be exact Father's Day bill called me to give me the great news that we had got approved and the closing date was as scheduled bill was more than just a lender to my family he became a friend and I'm alway going to have him in mind for any other financial situation.
--- Alejandres Felimon - Richmond, TX
I really liked his attitude!
I wouldn't usually say this but the way he had handled my mortgage was really pleasant. I personally enjoyed the time spent with him while we discussed feasible rates. He's a great man with a great personality and he offered really low interests as well. Definitely recommend him to others.
--- Tom Troiano - Atlantic City, NJ
He's nothing short of a miracle!
I'm a self-employed businessman and had him figure out the mortgage of the house after 30% down payment. The interest rates I received were incredibly low given what I had thought of earlier. One other important thing to note was that I hadn't really taken any loans earlier, so I had no credit history. He helped me out with all that as well so I can't really call him anything else but a miracle.
--- Fran Suarez - Cleveland, OH
He's really helpful!
I made a bid to him and the very same day he gave me an offer which I couldn't resist. It was too intimidating with those incredibly low interest rates and all, thoroughly recommend him.
--- Kenny Mickle - Houston, TX
Expeditious!
Bill was very expeditious and made it real easy going through the loan process. I felt he was on top of things.
I deal with investment properties and will more than likely call on him again.
--- Wayne King - Pensacola, FL
Bill was great!
Bill made us feel like a friend all the way thru the process. He was patient and explained everything he needed clearly. He was available ANYTIME we had questions or needed more information. Hopefully we won’t go thru this process again anytime soon, but if we do - we’d choose Bill! =)
--- Barbra & Nick Grimmer - Austin, TX
Great broker!
Bill was a great broker to work with. As first time home buyers we had many questions about the process, Bill took the time to help us even calling us back on weekends with answers. I would not hesitate to recommend him to anyone looking for a broker to work with.
--- Murray & Lisa Turner - Pensacola, FL
Outstanding service!
I couldn't have been more pleased with Bill's level of service. He made what is typically a lengthy, arduous process far quicker and easier at every turn. I'm extremely comfortable recommending Bill to friends and family, and will definitely utilize his services again!
--- Jim Lipari - Austin, TX
Renovation Mortgage Specialist
Two little-known home renovation mortgage programs offer solutions for buyers and homeowners who want to renovate.
Fannie Mae and the Federal Housing Administration have home renovation mortgage programs that allow buyers to borrow based on what the house is expected to be worth after the home rehab is completed. Homeowners can also use both programs to refinance their existing mortgage plus the renovation costs into one loan.
FHA's 203(k) program and Fannie's HomeStyle Renovation Mortgage have been around for years. In the old days -- when most borrowers could easily get second mortgages or generous credit lines to pay for renovations -- these loans weren't as appealing as they are today.
Home renovation loans are in Demand !
"A couple years ago, there wasn't as much demand for these loans," says Bill Rapp, a senior loan originator with Network Funding in Houston, who specializes in renovation mortgages. Demand surged in the aftermath of the housing crisis, when borrowers saw them as a way to buy and renovate distressed properties.
How it works Unlike credit lines, these renovation loans require borrowers to show that the money was spent on the house. In the standard FHA 203(k) program, the borrower hires a consultant to assess the construction plan and to perform an inspection before each draw is made. A "draw" happens when a portion of the money is disbursed to the contractor. Borrowers have up to six months to finish the project and are allowed up to five draws. The HomeStyle program does not require a consultant to monitor the work, only an initial and final inspection.
Great for foreclosure hunters !
While rehab loans involve more work than traditional mortgages, they can be a great tool for those who want to buy discounted homes that need repair.
Bill Rapp says he helped a couple who bought a foreclosed house in Houston, TX for $26,000 and borrowed $136,000 to renovate the property. An appraisal estimated the home would be worth about $135,000 after the work was completed. The couple was able to take out an FHA 203(k) mortgage totaling $144,000, which covered the price of the house, renovations, and loan costs, minus a down payment.
But how do you know which loan is best? It depends on the situation.
203(k) vs. HomeStyle .
Those who don't have great credit should probably opt for an FHA 203(k). Most Fannie Mae HomeStyle lenders require a credit score above 660. To get the best rate on a HomeStyle mortgage, borrowers need to have a minimum 740 credit score, Bill Rapp says.
"If you have a 740 score and 10 percent down, a HomeStyle is definitely cheaper," she says. That's because FHA mortgages carry higher mortgage insurance premiums for borrowers who put the least amount down. FHA 203(k) home renovation mortgages have an upfront fee that is rolled into the loan amount. Less-than-stellar credit For borrowers with credit scores lower than 740, it's best to compare estimates, Bill Rapp says.
FHA does not set a minimum score requirement for 203(k) loans, but many lenders require a score of 640 or greater. There are a few exceptions, and some lenders accept scores as low as 580, Bill Rapp says.
Under the FHA's 203(k) program, borrowers can get a mortgage with a down payment as little as 3.5 percent. HomeStyle requires a minimum 5 percent down payment.
The FHA 203(k) program is available only for owner-occupants. The HomeStyle program allows investors.
How much do you need?
Another key factor a borrower should consider when deciding whether to go with a 203(k) or a HomeStyle home renovation mortgage is the size of the loan.
The 203(k) rehab mortgage has to comply with FHA loan limits. The limit varies by county but is $314,827 in most places. In high-cost areas, the limit is as high as $765,525.
You may be able to borrow more with the 203(k) than with HomeStyle if you are borrowing up to the local loan limit.
With a 203(k) loan, borrowers can get up to 110 percent of the home's appraised value, compared with 95 percent with a HomeStyle loan. Both appraisals are based on what the house is expected to be worth after repairs.
What do you want to fix?
FHA's 203(k) rehab loan does not allow borrowers to use the money for luxury items such as adding a swimming pool or a spa, but HomeStyle does.
Borrowers can opt for a streamline FHA 203(k) home rehabilitation loan if they need less than $35,000 and don't have to do any structural repairs or major landscaping work. The streamline 203(k) is similar to a standard 203(k) but is easier to get and involves less paperwork and less bureaucracy, Bill Rapp says. Streamline loans don't require the borrower to hire a consultant.
Call Bill Rapp, The Mortgage Viking, today to discuss your options 281-222-0433.
🏦 How Commercial Mortgage Brokers Match Borrowers With the Right Lenders 🔑
🏦 How Commercial Mortgage Brokers Match Borrowers With the Right Lenders 🔑
💰 Find the Right Commercial Real Estate Lender: Why Working With a Mortgage Broker Matters 🏢
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How Commercial Mortgage Brokers Match Borrowers With the Right Lenders
The right commercial real estate loan isn't always the one with the lowest interest rate. It's the one that fits your property, financial position, investment strategy, and long-term objectives.
Whether you're purchasing an apartment building, refinancing an office property, financing a hotel, or acquiring real estate for your business, finding the right lender can make the difference between a successful closing and a financing disappointment.
Commercial mortgage brokers help bridge the gap between borrowers and lenders by evaluating financing requirements, analyzing the transaction, and identifying lending sources whose programs align with the deal.
I'm Bill Rapp with the CommLoan Empower Program, and here's how that process works.
Why Finding the Right Commercial Mortgage Lender Matters
Commercial real estate financing is not a one-size-fits-all business.
Different lenders have different appetites for property types, geographic markets, loan amounts, borrower profiles, and risk.
For example:
·A community bank may prefer stabilized, owner-occupied commercial properties within its lending footprint.
·A life insurance company may favor larger, stabilized investments with predictable income.
·A private lender may consider transitional properties requiring renovations or lease-up.
·An SBA lender may offer financing options for eligible owner-occupied business properties.
·An agency lender may specialize in qualifying multifamily housing transactions.
A commercial mortgage broker's job is to understand these differences and help position your financing request with lenders that are more likely to consider it.
Step 1: Understanding the Borrower's Financial Goals
Before approaching lenders, an experienced commercial mortgage broker begins by asking questions.
What are you trying to accomplish?
Are you purchasing, refinancing, constructing, renovating, or extracting equity from a property?
Are you looking for maximum loan proceeds, lower monthly payments, a longer fixed-rate period, or greater flexibility?
Other important questions include:
·How much equity or down payment is available?
·How long do you intend to hold the property?
·Is the property stabilized or undergoing a transition?
·What is your experience with similar investments?
·How important is nonrecourse financing?
·Do you anticipate selling or refinancing before maturity?
These answers establish the framework for the financing strategy.
A loan that works for a long-term apartment investor may be completely inappropriate for a developer planning to sell within 18 months.
Step 2: Analyzing the Property and Its Cash Flow
Commercial real estate lenders evaluate more than the borrower's credit score.
They also evaluate the property and its ability to support the proposed debt.
Three common underwriting metrics are particularly important.
Loan-to-Value Ratio (LTV)
LTV measures the loan amount relative to the property's value.
Formula:
LTV = Loan Amount ÷ Property Value
For example, a $1.5 million loan against a $2 million property represents 75% LTV.
Lenders establish different maximum LTV requirements depending on the asset, transaction, and risk profile.
Debt Service Coverage Ratio (DSCR)
DSCR measures how effectively the property's net operating income supports its debt payments.
Formula:
DSCR = Net Operating Income ÷ Annual Debt Service
For example, if a property generates $150,000 in annual NOI and requires $120,000 in annual debt service, the DSCR is 1.25x.
That means the property generates $1.25 in NOI for every $1 of required annual debt service.
Debt Yield
Debt yield measures a property's NOI relative to the proposed loan amount.
Formula:
Debt Yield = Net Operating Income ÷ Loan Amount
If a property produces $150,000 in NOI and the proposed loan is $1.5 million, the debt yield is 10%.
Debt yield provides another perspective on credit risk without relying directly on the property's appraised value or the loan's interest rate.
Important: The maximum available loan is often constrained by whichever underwriting requirement produces the lowest permissible loan amount.
Step 3: Identifying the Right Type of Commercial Lender
Commercial mortgage brokers evaluate multiple lender categories rather than assuming one financing source is appropriate for every borrower.
Banks and Credit Unions
Banks and credit unions may be strong candidates for stabilized investment properties and owner-occupied commercial real estate.
They may offer competitive pricing and established banking relationships, but underwriting requirements, recourse provisions, geographic restrictions, and deposit expectations can vary.
Life Insurance Companies
Life insurance lenders often focus on stabilized, income-producing commercial real estate with experienced sponsorship.
Certain programs may offer long-term fixed-rate structures and nonrecourse financing, subject to customary carveouts.
Agency Multifamily Lenders
Fannie Mae and Freddie Mac multifamily programs may be appropriate for eligible apartment properties.
These programs can provide competitive financing structures for qualifying transactions, although eligibility, affordability requirements, property condition, and borrower qualifications matter.
SBA Lenders
SBA 7(a) and 504 programs can help eligible small businesses finance owner-occupied commercial real estate.
These programs are not generally intended for passive real estate investment.
Bridge and Private Lenders
Bridge lenders and private capital sources can be valuable for properties that are not yet suitable for permanent financing.
Examples include properties undergoing renovation, lease-up, repositioning, or other transitional business plans.
However, borrowers must carefully evaluate financing costs, maturity dates, extension options, and exit strategies.
CMBS and Other Capital Markets Lenders
Commercial mortgage-backed securities financing may provide another option for qualifying income-producing properties.
These loans can have distinctive requirements regarding servicing, reserves, cash management, defeasance, and prepayment.
Understanding those provisions before closing is essential.
Step 4: Matching the Financing Strategy to the Property
Consider three different borrowing situations.
Scenario A: Stabilized Apartment Building
An investor is acquiring a 60-unit apartment property with consistent occupancy and predictable operating income.
Potential lender categories could include agency multifamily lenders, banks, and life insurance companies.
The best choice depends on proceeds, interest rate, amortization, recourse, reserves, and the investor's anticipated hold period.
Scenario B: Vacant Retail Property Requiring Renovations
An investor is acquiring a partially vacant retail center and plans to renovate the property, attract tenants, and refinance after stabilization.
A bridge lender may be more appropriate than a permanent lender because the property's current cash flow may not support conventional financing.
The financing should be structured around the renovation budget, lease-up assumptions, carrying costs, and realistic exit strategy.
Scenario C: Business Owner Purchasing an Office Building
A growing professional services company wants to purchase the building it will occupy.
A conventional bank loan or qualifying SBA program may be worth evaluating.
Owner-occupancy, operating business cash flow, eligibility, equity requirements, and loan structure will influence the decision.
These examples demonstrate why identifying the right lender requires more than comparing advertised interest rates.
Step 5: Comparing Commercial Mortgage Loan Offers
Once potential lenders are identified, the next step is comparing the actual financing structures.
At a minimum, borrowers should evaluate five factors:
1.Interest Rate: What is the actual borrowing cost, and is the rate fixed or floating?
2.Loan Proceeds: How much financing is available after applying LTV, DSCR, debt yield, and other constraints?
3.Loan Term: When does the loan mature, and does the amortization extend beyond the maturity date?
4.Recourse: Is the borrower personally liable, or is the loan nonrecourse subject to carveouts?
5.Prepayment: What happens financially if the property is sold or refinanced before maturity?
Borrowers should also compare lender fees, reserves, covenants, closing requirements, and extension options.
A lower interest rate does not necessarily create the lowest total financing cost.
For example, a loan with attractive pricing but expensive yield maintenance or defeasance provisions may be a poor fit for an investor planning an early sale.
Step 6: Preparing the Loan Package
A commercial mortgage broker helps assemble a financing package that allows lenders to evaluate the opportunity efficiently.
Common documentation includes:
·Current rent roll
·Trailing 12-month operating statement
·Historical property financial statements
·Borrower financial statement and liquidity verification
·Sponsor real estate experience
·Purchase contract, when applicable
·Property description and capital improvement budget
·Existing loan information for refinances
·Business financial statements for owner-occupied properties
A well-organized submission helps lenders understand the transaction and can reduce unnecessary underwriting questions.
It does not eliminate due diligence or guarantee approval.
Step 7: Navigating Underwriting and Closing
Identifying a lender is only part of the financing process.
Once a financing proposal is accepted, the transaction typically proceeds through underwriting, appraisal, environmental review, title work, legal documentation, and final credit approval.
A commercial mortgage broker helps coordinate communications, address outstanding conditions, and identify potential issues before they jeopardize the closing timeline.
Experienced financing guidance becomes particularly valuable when unexpected challenges arise.
Examples include a lower-than-expected appraisal, insufficient DSCR, changes in tenant occupancy, or newly identified property repairs.
How the CommLoan Empower Program Helps Borrowers
Through the CommLoan Empower Program, I help commercial real estate investors and business owners evaluate financing alternatives using a marketplace-oriented approach.
CommLoan's CUPID™ platform provides access to a network of 700+ lending sources, creating opportunities to identify financing programs across multiple lender categories.
Rather than starting with one lender's product menu, the process begins with the borrower's transaction and financial objectives.
The goal is to help borrowers:
·Identify lenders that fit their property and financing requirements.
·Understand how lenders evaluate cash flow and risk.
·Compare financing structures beyond the quoted interest rate.
·Prepare stronger loan submissions.
·Make more informed capital decisions.
Access to a broad lender network does not mean every lender will finance every transaction, and all financing remains subject to eligibility, underwriting, and lender approval.
Frequently Asked Questions
Is a commercial mortgage broker better than going directly to a bank?
It depends on the transaction. A bank relationship may be an excellent financing source, but a commercial mortgage broker can help compare alternative lender programs and structures that may not be available through a single institution.
Can commercial mortgage brokers finance properties nationwide?
Many commercial mortgage brokerage platforms work with lenders across the United States. Availability depends on the property's location, lender licensing and geographic requirements, loan size, and asset type.
What credit score is required for a commercial real estate loan?
Requirements vary significantly. Lenders may consider personal credit, sponsor experience, liquidity, net worth, property cash flow, collateral, and guarantor strength.
Can a commercial mortgage broker help with refinancing?
Yes. Brokers can assist with rate-and-term refinancing, qualifying cash-out transactions, maturity refinancing, and financing for repositioned properties.
How are commercial mortgage brokers compensated?
Compensation structures vary. Fees may be paid by borrowers, lenders, or through other disclosed arrangements, depending on the program and applicable requirements. Borrowers should request a clear explanation of all compensation and financing costs.
Final Thoughts: The Right Lender Can Change the Outcome
Successful commercial real estate financing begins with understanding the deal.
A property may be attractive, but the wrong financing structure can create unnecessary risk, restrict future options, or undermine an investment strategy.
The right commercial mortgage broker helps evaluate the property, understand the borrower's objectives, identify suitable lending sources, and compare loan structures before important decisions are made.
The objective isn't simply to get a loan. It's to secure financing that supports the investment strategy.
Let's Discuss Your Commercial Real Estate Financing
I'm Bill Rapp, CCIM, with the CommLoan Empower Program.
Whether you're acquiring, refinancing, developing, or repositioning commercial real estate, let's evaluate the transaction and explore available financing options.
Website: https://billrapp.commloan.com/
Schedule a Consultation: https://calendly.com/vikingenterprise
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Bill Rapp, CCIM
Director | CommLoan
📞 281-222-0433
📧 [email protected]
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Commercial Real Estate Financing Nationwide
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