Jessie McCollum - Licensed Mortgage Loan Officer

09/24/2026

🏡 THE APPRAISAL IS GETTING A MAKEOVER! 📋✨

If you're buying or refinancing a home, you may soon notice something different about the appraisal process.

Starting November 2, 2026, a major update called UAD 3.6 will become mandatory for new appraisal reports submitted to Fannie Mae and Freddie Mac. The traditional appraisal forms we're used to seeing—like the 1004—are being replaced by a new, more dynamic Uniform Residential Appraisal Report (URAR).

🔎 So, what's changing?

➡️ The old appraisal form numbers are going away
➡️ The new report will be more data-driven and dynamic
➡️ More detailed property information can be captured
➡️ Condition and quality information is being refined
➡️ The new system is designed to work across different property and inspection types

💡 What does this mean for homebuyers?

The appraisal is still an important part of the mortgage process, but the way the information is collected and presented is changing.

As a mortgage loan officer, I'll be keeping up with these changes so I can help my buyers and homeowners understand what they mean for their transaction. 🏠🔑

Have questions about the new appraisal process?
Drop a 🏡 in the comments or reach out to me!

Jessie McCollum | Mortgage Loan Officer
📞 804-895-4756
📧 [email protected]
🌐 www.dcmloan.com
NMLS #1644591

Guidelines and implementation requirements are subject to change. UAD 3.6 applies to appraisal reports submitted through the Fannie Mae/Freddie Mac process.

09/17/2026

🏠📈 The Fed Met Yesterday — Here’s What Homebuyers Need to Know

The Federal Reserve made a ¼-point rate increase at yesterday’s meeting, bringing the federal funds target range to 3.75%–4.00%.

So, what does that mean for mortgage rates?

👉 The Fed does NOT directly set mortgage rates. Mortgage rates are influenced more heavily by the bond market, inflation expectations, economic data, and investor demand.

That means a Fed rate decision doesn’t automatically mean mortgage rates will go up or down. In fact, mortgage rates can move before, during, or after a Fed meeting based on what the market expects.

🏡 The takeaway for buyers: Don’t let headlines about the Fed stop you from exploring your options. Your individual mortgage rate depends on several factors, including your loan program, credit profile, down payment, and market conditions.

If you’re thinking about buying, refinancing, or simply want to know what today’s market means for your specific situation, I’m happy to help!

📲 Jessie McCollum | Licenced Mortgage Loan Officer
☎️ 804-895-4756
📧 [email protected]
🌐 www.dcmloan.com
NMLS #1644591

Dominion Capital Mortgage are experts in dealing with new home buyers, refinance, investment properties, and mortgage loans of all types.

09/08/2026

08/27/2026

🛑✋🚨STOP!🚨✋🛑

Don't make these 5 mistakes before closing:

❌ Don’t open new credit cards: Not only will this impact your credit score, it will also mess up your debt to income ratio that your pre-approval was originally based on.

❌ Don’t finance a new car: Unless you're planning on living in it. (see above).

❌ Don’t make large unexplained deposits: A large deposit is typically defined as any single deposit that is over 50% of your total monthly qualifying income, OR any single deposit exceeding 1% of the subject property's purchase price or adjusted value. The definition varies depending on loan type and lender overlays. All large deposits must be sourced to ensure that it is not an additional loan not already accounted for and verify the source of the funds being deposited.

❌ Don’t change jobs without talking to your lender: This could change the amount you qualify or jeopardize your loan altogether. Especially if you are going to be paid a different way (hourly vs. salary or 1099 vs. W2) or a different amount than you were originally, or a different field altogether.

❌ Don’t make big purchases before closing: Even if you are using a loan program where a down payment is not required, it is best to consult your loan officer prior to any purchases out of the ordinary to confirm that any applicable reserve requirements are still met.

Looking for guidance for your next 🏠? I'm happy to help! Contact info below:

Jessie McCollum
Licensed Mortgage Loan Officer, Dominion Capital Mortgage Inc.
NMLS ID # 1644591
📱804-895-4756
📩 [email protected]

*Dominion Capital Mortgage is an equal housing lender.*

08/20/2026

✨Product Highlight: Bank Statement Loans ✨

If you’re self-employed, a business owner, or have income that doesn’t fit neatly into traditional W-2 documentation, a bank statement mortgage may be an option worth exploring.

Bank statement programs can allow qualified borrowers to document income using personal and/or business bank statements rather than traditional tax-return income documentation.

While requirements vary by lender and loan program, borrowers may commonly see guidelines such as:

💰 Down Payment: Programs may be available with down payments starting around 10%–20%, depending on the borrower, property, loan amount, and program.

📄 Bank Statements: Lenders may typically request 12–24 months of consecutive bank statements to evaluate cash flow and determine qualifying income.

🏦 Personal vs. Business Accounts: Some programs allow personal statements, while others may allow business bank statements. When using business accounts, the lender may apply an expense factor to determine the portion of deposits considered available income.

💼 Self-Employment: Many programs are designed for self-employed borrowers, including business owners, independent contractors, and other borrowers with non-traditional income documentation. Minimum time in business/self-employment can vary by program.

📊 Credit: Credit-score requirements vary by lender and program. A stronger credit profile may provide access to more favorable terms.

💵 Reserves: Some programs may require several months of mortgage-payment reserves, particularly for larger loan amounts, investment properties, or borrowers with other risk factors.

🏠 Property Types: Depending on the program, financing may be available for primary residences, second homes, and/or investment properties. Property eligibility varies.

💲 Loan Amounts: Bank statement programs may accommodate higher loan amounts than some traditional mortgage options, but maximum loan amounts vary by lender and borrower qualifications.

📈 Debt-to-Income: Some bank statement programs use alternative methods of evaluating affordability rather than traditional DTI calculations. Specific limits and requirements depend on the program.

⚠️ Important: Bank statement loans are generally considered non-QM (Non-Qualified Mortgage) loans, and they can have different interest rates, fees, down-payment requirements, and underwriting guidelines than conventional mortgages.

Every loan is different. Guidelines, rates, terms, documentation requirements, and eligibility vary by lender and program. Bank statement deposits also generally need to be reviewed and sourced appropriately, and not every deposit will necessarily qualify as income.

📲 Curious whether you may qualify? Send me a message and I can review your scenario and discuss potential financing options.

Jessie McCollum
Licensed Mortgage Loan Officer, Dominion Capital Mortgage Inc.
NMLS ID # 1644591
📱804-895-4756
📩 [email protected]

*This post is for informational purposes only and is not a commitment to lend. Dominion Capital Mortgage is an equal housing lender.*

08/17/2026

✨Product Highlight: Debt Service Coverage Ratio Loans (DSCR)✨

🏠 Investment Property Financing Without Traditional Income Requirements?

If you’re an investor, you may want to know about DSCR (Debt Service Coverage Ratio) loans.

Unlike many conventional investment-property loans, DSCR financing can qualify borrowers primarily based on the property’s ability to generate enough rental income to cover its debt obligations, rather than relying solely on personal employment income. So if you'd love to purchase an investment property without the hassle of providing pages upon pages of income paperwork, this product may be right for you!

DSCR loans may be a good fit for:
✅ Real estate investors building or expanding a rental portfolio
✅ Self-employed investors with complex income
✅ Investors looking for an alternative to traditional financing
✅ Certain rental properties that generate qualifying cash flow

Potential benefits may include:
🔹 Qualification based on property cash flow
🔹 Less emphasis on personal income documentation
🔹 Financing designed specifically for investment properties
🔹 Opportunities to grow your real estate portfolio

Every loan program has specific eligibility requirements, and terms vary by borrower and property.

📲 Want to see whether a DSCR loan could work for your next investment property? Send me a message or reach out for a personalized scenario review.

Jessie McCollum
Licensed Mortgage Loan Officer in the State of Virginia
Dominion Capital Mortgage Inc.
NMLS ID # 1644591
📱804-895-4756
📩 [email protected]

This is for informational purposes only and is not a commitment to lend. All loans are subject to credit, property, underwriting, and program guidelines. Restrictions and conditions may apply. Dominion Capital Mortgage is an equal housing lender.

08/12/2026

✨Product Spotlight: USDA Guaranteed Financing✨

Looking to buy a home with little or no money down? A USDA Guaranteed Loan may be an option for qualified homebuyers.

The USDA Guaranteed Loan program, backed by the U.S. Department of Agriculture, is designed to help eligible borrowers purchase a primary residence in an eligible rural area. And despite the name, “rural” can include many suburban communities.

Here are some key terms and features to know:

🔹 100% Financing – Qualified borrowers may be able to finance up to 100% of the home's appraised value, meaning no down payment may be required.

🔹 USDA Guarantee Fee – USDA loans typically have an upfront guarantee fee and an annual fee. The upfront fee may generally be financed into the loan rather than paid entirely out of pocket.

🔹 Income Limits – USDA Guaranteed Loans have household income limits, which vary based on location and household size. Income eligibility is an important part of the qualification process.

🔹 Property Eligibility – The home must be located in an area that meets USDA's property eligibility requirements. Being outside a major city does not automatically mean a property qualifies.

🔹 Primary Residence – USDA Guaranteed Loans are intended for the purchase of a primary residence, not vacation homes or investment properties.

🔹 Debt-to-Income Ratio (DTI) – Your monthly debts and proposed housing payment are considered when determining your ability to repay the loan. Certain compensating factors may affect how ratios are evaluated.

🔹 Credit Requirements – USDA does not establish one universal minimum credit score for every borrower, but lenders may have their own credit requirements and underwriting standards.

🔹 Closing Costs – Eligible closing costs may be paid through available seller contributions, borrower funds, or potentially financed when supported by the property's appraised value and program guidelines.

🔹 Eligible Property Types – USDA Guaranteed Loans can generally be used for eligible single-family homes, including certain eligible condominiums, planned unit developments, and manufactured homes, subject to USDA and lender requirements.

🔹 No Prepayment Penalty – USDA Guaranteed Loans do not have a prepayment penalty, allowing borrowers to pay the loan off early without a prepayment penalty from the USDA program.

🔹 USDA vs. USDA Direct – The Guaranteed Loan program is offered through approved lenders, while USDA also has a separate Direct Loan program with different eligibility requirements and terms.

💡 Bottom line: USDA financing can be a powerful option for eligible buyers who want to purchase a primary residence with 100% financing and competitive terms—but income, property location, credit, debt, and other requirements all matter.

Wondering if a home you're considering qualifies for USDA financing? Send me a message and let's take a look at your options! 🏡🌾

Jessie McCollum
Licensed Mortgage Loan Officer in the State of Virginia
Dominion Capital Mortgage Inc.
NMLS ID # 1644591
📱804-895-4756
📩 [email protected]

USDA Guaranteed Loan eligibility, income limits, fees, property requirements, credit guidelines, and loan terms apply. Guidelines are subject to change. This is not a commitment to lend. Dominion Capital Mortgage is an equal housing lender.

08/11/2026

✨🇺🇸 Product Spotlight: VA Financing 🇺🇸✨

If you’re a veteran, active-duty service member, or eligible surviving spouse, a ✨VA mortgage✨ may offer significant advantages when purchasing a home.

Here are some of the key VA loan benefits to know:

🏡 **No Down Payment**
Eligible borrowers may be able to purchase a home with **0% down**, helping preserve cash for moving expenses, repairs, and other costs.

💰 **No Monthly Mortgage Insurance**
Unlike many conventional or FHA loans, VA loans generally do **not require monthly private mortgage insurance (PMI)**, even when putting little or no money down.

📉 **Competitive Interest Rates**
VA loans often offer competitive rates, which can help make monthly payments more manageable over the life of the loan.

💵 **VA Funding Fee**
Most VA borrowers pay a **VA funding fee**, which helps support the VA loan program. Some eligible veterans may qualify for an exemption, and the fee may be financed into the loan in many cases.

📋 **Flexible Qualification Guidelines**
VA financing can offer flexible underwriting guidelines, although borrowers still need to meet lender and VA requirements for credit, income, debt, and the property.

🔄 **VA Streamline Refinance (IRRRL)**
Eligible VA homeowners may be able to refinance through an **Interest Rate Reduction Refinance Loan (IRRRL)** when certain requirements are met.

⭐ **VA Loan Eligibility**
VA loans are not automatically available to every veteran or service member. Eligibility is based on specific service requirements, and borrowers typically need a **Certificate of Eligibility (COE)**. I can request your COE for you from the VA.

The VA loan program can be a powerful homeownership tool—but understanding the terms and determining what you qualify for is an important first step.

🇺🇸 **Served our country? Let’s see what your VA benefits can do for your homeownership goals.** Send me a message to discuss your options.

Jessie McCollum
Licensed Mortgage Loan Officer in the State of Virginia
Dominion Capital Mortgage Inc.
NMLS ID # 1644591
📱804-895-4756
📩 [email protected]

*VA loan eligibility, funding-fee requirements, rates, terms, and other conditions vary. All loans subject to credit approval, VA guidelines, lender requirements, and applicable law.* Dominion Capital Mortgage is an equal housing lender.

05/15/2026

Congratulations to my client Liz on the purchase of her brand new construction home in the heart of Richmond, just in time for the weekend! 🔑 🏠

Dominion Capital Mortgage Inc.