# LitFinancial > LitFinancial is a US-regulated FinTech mortgage broker and lender headquartered in Troy, Michigan (NMLS #2553292). Founded in 2024, the company offers a full range of home loan products — from conventional and FHA loans to VA, jumbo, DSCR, and bank statement loans — serving borrowers across 35+ U.S. states. LitFinancial combines decades of mortgage industry experience with emerging technology, including its litUSD stablecoin initiative built on Ethereum, to modernize mortgage lending and treasury operations. > LitFinancial's mission is to provide clear, straightforward, and tailored mortgage solutions. The company employs over 100 team members, including 65+ licensed loan officers, and operates seven days a week. LitFinancial is backed by Draper Goren Blockchain ($8M raised) and is compliant with the federal GENIUS Act stablecoin framework. Leadership includes veterans of Rocket Mortgage and Coinbase. > Key differentiators include: a proprietary Brokered Rate service that connects borrowers with broker-enhanced mortgage pricing, intuitive self-service tools for calculating buying power and home equity, zero credit impact for initial inquiries, a commitment to never selling customer information, and AI-powered loan officer tools that enable faster closings. LitFinancial describes itself as the only mortgage brokerage backed by blockchain technology. ## LitFinancial holds an A-rating with the Better Business Bureau, a 5-star BBB review, and a 4.9 Google rating across hundreds of reviews. The company projects an annual mortgage origination run-rate of over $1 billion by 2026. ## Homepage Source: https://litfinancial.com/ LitFinancial's tagline is "Unlock your Home's True Potential: Buy, Refinance, or Tap into Equity." At LitFinancial you'll find fast, personalized financing to match your homeownership goals. Their team of experts simplifies the complex and works tirelessly to find the right solution. To them, it's more than a transaction — it's a relationship. The homepage highlights the company's core loan programs and tools, and features the HomeDollar product for homeowners aged 62 and older. It also promotes the Brokered Rate service and provides quick-access calculators for buying power, home equity, and HELOC options. Privacy commitments featured prominently: no SSN required for initial inquiries, zero impact to credit, and borrower information is never sold. --- ## Home Loan Programs Overview Source: https://litfinancial.com/mortgage-types LitFinancial offers a variety of mortgage options, from fixed-rate and adjustable-rate mortgages to FHA, VA, and jumbo loans. The mortgage types page serves as a directory to all available loan products with brief descriptions and links to detailed pages for each program. Available loan programs include: Conventional Mortgage Loans, FHA Loans, VA Loans, Jumbo Loans, Home Equity Loans, DSCR Loans, Bank Statement Loans, and Reverse Mortgages. General mortgage guidance provided on the page: - Down payments: Some loans allow 3-5% down, FHA allows 3.5%, and VA/USDA can be 0%. Putting 20% down helps avoid PMI. - Credit scores: Many loans start around 580-620, but higher scores help qualify more easily and get better rates. - Rates: Rates change daily and depend on credit, loan type, and down payment. A lender can provide a personalized quote. - Pre-approval: Pre-approval is fast. A full mortgage usually takes about 30 days from start to finish. - Documents needed: Typically pay stubs, W-2s, tax returns (if needed), bank statements, and ID. - Closing costs: Usually 2-5% of the loan amount. Some can be rolled into the loan or covered by seller credits. - Monthly payment: Includes the loan, taxes, insurance, and possibly PMI or HOA fees. - Tax benefits: Mortgage interest may be tax-deductible. Equity loan rules vary; consult a tax professional. --- ## Conventional Mortgage Source: https://litfinancial.com/mortgage-types/conventional-mortgage Tagline: "Conventional home loans. Unconventional approach." Conventional Home Loans generally suit clients looking to finance or refinance a traditional home, with good credit, and the means to offer a 3-20% down payment. ### Key Features - Escrow flexibility: Conventional loans often give borrowers a choice about escrowing taxes and insurance if enough is put down, unlike FHA and VA loans which typically require it. - PMI avoidance: With a 20% down payment, borrowers can avoid Private Mortgage Insurance. - Rewards strong credit: Conventional loans reward borrowers with strong credit profiles with better rates and terms. - Down payment range: 3-20%, with 20% eliminating the need for PMI. ### Requirements - Credit score: Generally starts around 620, but higher scores yield better rates. - Down payment: 3-20% of the purchase price. - Stable, consistent income with proper documentation (pay stubs, W-2s, tax returns, bank statements, ID). --- ## FHA Loan Source: https://litfinancial.com/mortgage-types/FHA-loan Tagline: "Opening doors to homeownership." FHA loans are great for clients refinancing, or purchasing a home for the first time, who may not have the liquidity required for a large down payment or the backing of loans from private lenders. They are government-backed and designed to make homeownership more accessible. ### Key Features - Lower down payment: Minimum 3.5% down payment. - Flexible credit: FHA is flexible with credit requirements, generally starting around 580. - Government-backed: Insured by the Federal Housing Administration, reducing lender risk and enabling more favorable terms for borrowers. - Tools available: Check FHA loan eligibility and estimate how much you can get through on-site calculators. ### Requirements - Credit score: Generally 580+ for the 3.5% down payment option. - Down payment: Minimum 3.5%. - Income documentation and standard mortgage application materials. --- ## VA Loan Source: https://litfinancial.com/mortgage-types/VA-loan VA loans are meant to serve veterans, members of the armed services, and their families to purchase or refinance a home easily and with fewer hurdles than a traditional loan. ### Key Features - Zero down payment: VA loans can be obtained with 0% down. - No PMI: No private mortgage insurance required. - Fewer hurdles: Designed specifically for military service members with streamlined qualification processes. - Competitive rates: VA loans typically offer favorable interest rates compared to conventional options. ### Eligibility - Veterans, active-duty service members, and eligible surviving spouses. - Generally requires minimum service duration (90 days active duty wartime, 181 days peacetime, or 6 years in Reserves/National Guard). - Certificate of Eligibility (COE) required. --- ## Jumbo Loan Source: https://litfinancial.com/mortgage-types/jumbo-loan Jumbo loans provide financing for higher-value homes that exceed conventional conforming loan limits. They are designed for borrowers purchasing luxury properties or homes in high-cost real estate markets. ### Key Features - Higher loan amounts: Exceeds the conventional conforming loan limit. - Competitive rates: Available for well-qualified borrowers. - Flexible terms: Various term lengths and rate structures available. ### Requirements - Strong credit profile typically required. - Higher down payment may be required compared to conforming loans. - Comprehensive income and asset documentation. --- ## Home Equity Loan Source: https://litfinancial.com/mortgage-types/home-equity-loan Tagline: "Leveraging the value of your home." Home equity loans allow homeowners to convert existing home equity into cash, paid back over time. LitFinancial offers tools to calculate home equity and explore HELOC (Home Equity Line of Credit) options directly on the page. ### Key Features - Access home equity: Borrow against the equity built up in your home. - Fixed or variable rates: Depending on the product structure. - Self-service tools: "Calculate My Home Equity" and "Explore My HELOC Options" tools available on site. - Tax considerations: Equity loan interest deduction rules vary; consult a tax professional. --- ## DSCR Loan Source: https://litfinancial.com/mortgage-types/DSCR-loan DSCR (Debt Service Coverage Ratio) loans open doors to investment for commercial real estate investors, without having to tap into their personal credit. ### Key Features - No personal income verification: Approval is based on the property's rental income, not the borrower's personal income. - Investment-focused: Designed specifically for rental and investment property financing. - Streamlined process: Less paperwork and often faster closings compared to traditional investment property loans. - No cap on financed properties: Investors can finance multiple properties. - Cash-out options: Unlimited cash-out potential available. ### How DSCR Works DSCR is calculated by dividing monthly rental income by the total monthly debt obligation (principal, taxes, interest, insurance, and association dues). A DSCR above 1.0 indicates positive cash flow. Lenders typically prefer a DSCR of 1.25 or higher. ### Property Types ## Eligible for various property types including single-family homes, multi-unit properties, and short-term rentals. ## Bank Statement Loan Source: https://litfinancial.com/mortgage-types/bank-statement-loan Tagline: "Use your stellar financial record as an asset." Bank statement loans help provide a pathway to homeownership for those who might not have a full-time job but have the credit and income history to buy a home. They are ideal for self-employed borrowers. ### Key Features - Alternative income documentation: Uses bank statements (typically 12-24 months) instead of traditional W-2s and tax returns. - Self-employed friendly: Designed for entrepreneurs, freelancers, and gig workers. - Eligibility tools: "Check My Bank Statement Loan Eligibility" and "How Much Can I Get?" tools available on site. ### Requirements - Bank statements (typically 12-24 months) demonstrating consistent income. - Good credit history. - Standard property requirements. --- ## HomeDollar (Reverse Mortgage) Source: https://litfinancial.com/ (homepage feature) HomeDollar is LitFinancial's branded reverse mortgage product that allows homeowners aged 62 and older to convert home equity into cash while keeping ownership of their home. Finally, homeowners can let their home pay them. ### Key Features - No monthly payments required: Repayment is not required until the homeowner sells the home, moves, or passes away. - Retain homeownership: Borrowers keep ownership of their home throughout the life of the loan. - Flexible financial tool: Designed for retirees needing extra income. - Age requirement: Available to homeowners 62 years and older. --- ## Get a Brokered Rate Source: https://litfinancial.com/get-brokered-rate Brokered Rate is LitFinancial's proprietary trademarked service that connects borrowers with competitive broker-enhanced mortgage rates. As a mortgage brokerage, LitFinancial can shop rates across multiple lenders to find the best pricing for each borrower's unique situation. ### How It Works - LitFinancial's loan officers act as advocates throughout the lending journey. - They tap into a trusted network to look at all options. - They take the time to listen to each client's needs and goals. - The process is designed to find the borrower's best financial fit. --- ## Our Brokers Source: https://litfinancial.com/agents LitFinancial's broker directory lists all licensed loan officers available to guide borrowers through the mortgage process. The company employs 65+ licensed loan officers across multiple states. Each broker profile includes their contact information, NMLS number, and specializations. Borrowers can connect directly with a specific loan officer or be matched with one suited to their needs. Notable brokers listed include professionals like James Abdallah ("Mortgages is what we do. Helping people is who we are!") and Nic Bucca, among many others. --- ## litUSD Stablecoin LitFinancial launched litUSD, a US dollar-backed stablecoin, on September 10, 2025. litUSD is issued as an ERC-20 token on the Ethereum blockchain. ### Partners - Brale: FinCEN-registered money services business based in Des Moines, Iowa. Serves as the convertible virtual currency (CVC) administrator and issuer of litUSD. Founded in 2022, provides a regulatory-compliant Stablecoin-as-a-Service platform. - Stably: Stablecoin development and advisory firm based in Seattle, Washington. Specializes in helping institutions create their own brand of digital money. Was among the world's earliest stablecoin issuers, having supported 16+ stablecoin projects since 2018. - Chainlink: Industry-leading decentralized oracle network. Partnership announced November 4, 2025 ahead of Chainlink SmartCon 2025. Provides auditable, real-time feeds of collateralization and liquidity data for litUSD. ### Technical Details - Token standard: ERC-20 on Ethereum - Backing: 1:1 with US dollars (bank deposits, money market instruments, US T-Bills) - Minting and redemption: Via bank transfer or Circle's USDC stablecoin through Brale's verified business accounts - Compliance: Fully compliant with the GENIUS Act - Reserve policy: Collateral is held by Brale for the benefit of verified litUSD holders; never rehypothecated nor invested in mortgage securities ### Development Timeline - May 2025: LitFinancial engaged Stably to design and advise on the stablecoin - July 2025: Comprehensive strategy and execution plan completed (two months) - August 2025: litUSD successfully launched on Ethereum - September 10, 2025: Official public announcement - November 4, 2025: Chainlink partnership announced ### Purpose and Use Cases - Modernize traditional lending models - Streamline treasury operations and reduce funding costs - Increase transparency across mortgage finance - Explore on-chain settlement of mortgage payments - Enable public tracking of loan performance, potentially reshaping liquidity in the secondary mortgage market ### Future Plans - Enable stablecoin liquidity pools for litUSD on Curve - Explore integrations with other DeFi protocols - Expand to Ethereum layer-2 networks --- ## Lit Marketplace Source: https://marketplace.litfinancial.com/ Lit Marketplace is a separate web application (JavaScript-rendered) that extends LitFinancial's services. The marketplace is accessible at marketplace.litfinancial.com as a companion platform to the main LitFinancial website. --- ## Careers Source: https://litfinancial.com/careers LitFinancial is looking for talented professionals who are passionate about helping clients achieve their homeownership dreams. They encourage candidates to explore current job openings and apply to become part of their dynamic and dedicated team. ### Culture LitFinancial describes itself as a fast-moving, forward-thinking mortgage company where growth is about your career path. Employees join a collaborative, high-energy team that values curiosity, ownership, and fresh ideas, with hands-on leaders invested in mentorship. ### Benefits - Comprehensive health coverage through Blue Cross Blue Shield and UNUM - Health Savings Account (company contributes up to $500/year) - Competitive benefits package ### Current Roles (Examples) - Mortgage Loan Closer/Funder (Troy, MI) - Loan Processor (Troy, MI) - Loan Officer (various locations) --- ## Opportunities Source: https://litfinancial.com/opportunities The Opportunities page is geared toward mortgage professionals and brokers interested in joining LitFinancial's network. It highlights the company's growth trajectory, technology platform, and the advantages of being part of a blockchain-backed mortgage brokerage. --- ## Disclosures Source: https://litfinancial.com/disclosures LitFinancial's disclosures page contains legal information, licensing details, and regulatory compliance statements. ### Key Legal Information - Lit Financial Corporation is an Equal Housing Lender. - As prohibited by federal law, LitFinancial does not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, public assistance income, or exercising rights under the Consumer Credit Protection Act. - NMLS #2553292 - Copyright 2025 Lit Financial Corporation. All rights reserved. ### Footer Links (Available Across All Pages) - Legal, Disclosures, and Licenses - Privacy Policy - Information Removal - Document Portal Login - NMLS Consumer Access --- ## Contact Information - Company: Lit Financial Corporation - Address: 3221 W Big Beaver Rd, Troy, MI 48084 - Phone: (800) 238-3038 - Hours: Seven days a week, 8:00 AM - 8:00 PM - NMLS: #2553292 - Website: https://litfinancial.com - LinkedIn: https://www.linkedin.com/company/lit-financial --- ## Tools and Calculators LitFinancial provides intuitive self-service tools accessible from various pages across the site: - Calculate My Buying Power: Estimate what you qualify for based on your financial profile. - Calculate My Home Equity: Determine how much equity you have in your current home. - Explore My HELOC Options: Compare home equity line of credit scenarios. - Check FHA Loan Eligibility: Determine if you qualify for an FHA loan. - Check Bank Statement Loan Eligibility: See if you qualify using bank statements as income documentation. - How Much Can I Get: Estimate your maximum loan amount for various programs. All tools require no SSN, have zero impact to credit, and borrower information is never sold.