Welcome to the Spilman lending Team @ Tatum Mortgage
Find the Perfect Mortgage Plan Tailored to Your Needs
I understand that buying a home is one of the most significant investments you'll make in your lifetime. That's why I offer customized mortgage solutions designed to fit your unique financial situation. Whether you're a first-time homebuyer or looking to refinance, My Experienced Lending team is here to guide you every step of the way. Explore My competitive rates and flexible terms to make your dream of homeownership a reality.
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Got questions? I'm here to help! Whether it's about mortgage rates, plans, or the process, feel free to ask me anything. I'm ready to guide you every step of the way!
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(719) 447-7228
Unlock Your Dream Home with the Right Mortgage Solutions.
who am I?
Your Trusted Partner in Home Financing
Michael Spilman, MBA | Sr. Loan Officer at Tatum Mortgage
Specializing in Self-Employed Solutions, Investment Portfolios, Down Payments Assistance & Reverse Mortgages. Navigating the mortgage landscape requires more than just a lender. It requires a strategic financial partner. With a Bachelor's in Economics and an MBA from Arizona State University, I bring a high-level analytical approach to every transaction, ensuring my clients don't just get a loan--they get a tailored financial solution.
While I offer a full suite of products (FHA, VA, Conventional, Refinances and HELOC's), I have built my reputation on mastering the "complex" files that other lenders often shy away from:
The HECM (Reverse Mortgage) Expert: I am passionate about helping seniors in Colorado and Arizona use their home equity as a strategic tool for a more secure and comfortable retirement.
The Self-Employed Specialist: I understand that your tax returns don't always tell the whole story. I specialize in bank statement programs and alternative documentation to help entrepreneurs and business owners secure the home they've earned.
The Investment Strategist: From first-time rentals to seasoned portfolios in Colorado and Arizona, I help investors leverage the right debt structures to maximize ROI and scale their holdings.
Down Payment Assistance Loans: If you have strong credit but struggling to save for the initial entry money down. CHFA programs provide down payment assistance to bridge that gap.
After 30 years in Scottsdale Arizona and now calling the Colorado Springs foothills home, I have a deep-rooted understanding of these unique markets.
My mission is simple: to replace the "daunting" mortgage experience with transparency, speed, and an unwavering commitment to closing on time. Whether you are looking to buy your first investment property, navigate a self-employed approval, or explore the benefits of a reverse mortgage, let's connect. Your goals deserve the expertise of a lender who speaks the language of economics and business.
why choose me?
Building Foundations for a
Brighter Future
Home Purchase
Refinance
Specialty Loan Options
Client Satisfaction
Personalized Solutions
Exceptional Customer Service
Your Journey to Homeownership Starts Here
I simplify the journey to homeownership. My dedicated team is here to guide you through every step, providing expert advice and personalized support. Together, we’ll turn your dream of owning a home into reality!
Personalized mortgage solutions tailored to your needs.
Expert guidance throughout the entire buying process.
Competitive rates to help you save on your investment.
what we offer ?
Effortless Mortgages, Realize Your Dreams
I streamline the mortgage process to make your homeownership dreams a reality. I can shop for the lowest rate across a myriad of lenders. Our tailored solutions and expert support ensure a smooth journey, empowering you to achieve your goals with confidence.
Traditional Loans
Conventional Loans
These loans follow the guidelines set by Fannie Mae and Freddie Mac and are the most common choice for buyers with stable income and solid credit scores.
Flexible Terms: Offers a wide variety of repayment schedules, typically ranging from 10 to 30 years, in both fixed-rate and adjustable-rate structures.
Flexible Solutions: Tailored to meet your specific needs.
Easy Transition: Simplifies the process of moving between properties.
VA Loans
VA loans are a powerful benefit for Veterans, active-duty service members, and eligible surviving spouses. These mortgages are backed by the Department of Veterans Affairs and are designed to make homeownership more accessible and affordable as a reward for military service.
Zero Down Payment: One of the only mortgage products that allows you to finance 100% of the home's purchase price without requiring a down payment.
No Monthly Mortgage Insurance: Unlike conventional or FHA loans, VA loans do not require monthly mortgage insurance (PMI), which can save you hundreds of dollars on your monthly payment.
Competitive Interest Rates: Because the government guarantees a portion of the loan, lenders can often offer lower interest rates than traditional financing options.
FHA Loans
FHA loans are mortgages insured by the Federal Housing Administration, designed to help low-to-moderate-income borrowers and first-time homebuyers. Because the government provides insurance to the lender, these loans have more flexible qualification requirements than traditional financing.
Low Down Payment: Borrowers can qualify with a down payment as low as 3.5%, making it easier for those with limited savings to enter the housing market.
Flexible Credit Requirements: These loans are more accessible for individuals with lower credit scores or limited credit history compared to conventional loan programs.
Assumable Mortgages: FHA loans are often "assumable," meaning if you sell your home, the buyer may be able to take over your existing mortgage and its interest rate.
HELOC Loans
A Home Equity Line of Credit (HELOC) is a "revolving" loan that lets you borrow against the equity you’ve built in your home. It functions much like a credit card, allowing you to withdraw funds as needed up to a set limit, pay them back, and borrow again during a specific "draw period."
Pay Only for What You Use: Unlike a standard loan where you receive a lump sum, you only owe interest on the specific amount you choose to withdraw from your line of credit.
Flexible Spending: HELOCs provide a versatile source of cash that can be used for anything from home renovations and debt consolidation to emergency expenses
Interest-Only Options: During the initial draw period (often 10 years), many HELOCs allow you to make interest-only payments, providing significant short-term cash flow flexibility.
Refinancing Loans
Refinancing allows you to replace your current mortgage with a new one, typically to secure better terms, a lower interest rate, or to tap into your home's equity. It is a strategic financial move used to adjust your monthly payments or the overall length of your loan to better fit your current financial goals.
Rate and Term Adjustment: You can switch from an adjustable-rate to a fixed-rate mortgage or shorten your loan term (e.g., from 30 years to 15 years) to pay off your home faster and save on interest.
Lower Monthly Payments: By securing a lower interest rate or extending your loan term, you can reduce your required monthly commitment and improve your day-to-day cash flow.
Cash-Out Options: If you have enough equity, a "cash-out refinance" allows you to take out a loan for more than you owe and receive the difference in cash for major expenses or debt consolidation.
Jumbo Loans
Jumbo loans are "non-conforming" mortgages designed for high-value properties that exceed the local lending limits set by Fannie Mae and Mac. Because these loans cannot be purchased by government-sponsored entities, they carry more stringent requirements but allow you to finance luxury homes or properties in highly competitive markets.
Higher Borrowing Limits: These loans provide the necessary capital to purchase high-end real estate or homes in expensive urban areas where standard "conforming" loan limits fall short.
Stricter Qualification Standards: To offset the lender's risk on such a large amount, borrowers typically need a higher credit score, a lower debt-to-income ratio, and significant cash reserves.
No Multiple Mortgages Needed: Instead of taking out a primary mortgage and a secondary "piggyback" loan to cover a luxury purchase, a Jumbo loan allows you to manage your financing through a single, high-balance note.
Specialty Loans (NON-QM)
HECM Loans
A Home Equity Conversion Mortgage (HECM) is the most common type of reverse mortgage and the only one insured by the federal government through the FHA. It allows homeowners aged 62 and older to convert a portion of their home equity into cash without having to sell the home or make monthly mortgage payments.
No Monthly Mortgage Payments: You are not required to make any monthly principal or interest payments as long as you live in the home as your primary residence and keep up with taxes, insurance, and maintenance.
Flexible Payment Options: You can choose how to receive your funds—whether as a tax-free lump sum, fixed monthly payments for life (tenure), or a line of credit that actually grows over time.
FHA Protection & Non-Recourse Guarantee: As an FHA-insured product, it features a "non-recourse" clause, meaning you or your heirs will never owe more than the home’s appraised value at the time the loan is repaid
CHFA Down Payment Assistance (DPA) Loans
CHFA Down Payment Assistance (DPA) programs, offered by the Colorado Housing and Finance Authority (CHFA), are designed to help homebuyers overcome the upfront costs of purchasing a home. These programs are paired with a CHFA first mortgage and are available to both first-time and repeat buyers who meet certain income and credit requirements
Grant or Loan Options: You can choose between a non-repayable grant (up to 3% of your first mortgage) or a second mortgage loan (up to 4% of your mortgage, or up to $25,000 for specific programs like FirstGeneration).
Deferred Repayment: For the second mortgage option, repayment is typically deferred until you sell the home, refinance your primary mortgage, or pay off the first loan.
Low Credit Score Entry: Homebuyers with a mid-credit score as low as 620 may qualify, making homeownership accessible even if your credit history is still being established.
DSCR Loans
A Debt Service Coverage Ratio (DSCR) loan is a specialized mortgage for real estate investors that focuses on the income-generating potential of the property rather than the borrower’s personal income. Instead of verifying tax returns or pay stubs, lenders use the DSCR to determine if the property’s rental income can cover its own mortgage payments.
No Personal Income Verification: You don’t need to provide W-2s or employment history; the qualification is based on the "cash flow" of the property itself.
Faster Closing and Scalability: Because the underwriting process is streamlined and doesn't involve complex personal debt-to-income (DTI) calculations, investors can often close faster and build a portfolio of multiple properties more easily.
Ideal for Self-Employed Investors: This program is perfect for business owners or freelance investors whose tax write-offs might make it difficult to qualify for a traditional "conforming" loan.
Bank Statement
A Bank Statement Loan is a type of "Non-QM" (Non-Qualified Mortgage) designed specifically for self-employed borrowers who have significant expenses or tax write-offs. Instead of using tax returns, lenders analyze 12 to 24 months of personal or business bank statements to calculate an "effective income" based on your actual monthly deposits.
Tax Returns Not Required: These loans bypass the traditional W-2 or tax return verification process, meaning your business write-offs won't negatively impact your ability to qualify for a mortgage.
High Loan Amounts: Similar to Jumbo loans, bank statement programs often allow for much higher borrowing limits than traditional conforming loans, accommodating luxury home purchases for business owners.
Flexible Income Documentation: You can typically choose to use either your personal bank statements (often 100% of deposits counted) or business bank statements (using a standard expense ratio) to prove your ability to repay.
1099 Loans
1099 Loans are a specialized financing solution tailored for independent contractors, freelancers, and "gig economy" workers who receive 1099 forms rather than W-2s. Like bank statement loans, these are "Non-QM" products that allow you to qualify based on your gross 1099 earnings rather than the net income shown on your tax returns after business deductions
Simple Income Calculation: Lenders typically use a standard expense factor (often around 10-50%) applied to your total 1099 earnings to determine your qualifying income, ignoring the heavy write-offs that often lower your taxable income.
Minimal Documentation: Instead of years of complex tax filings, you generally only need to provide your 1099 forms from the last 1–2 years, along with a year-to-date profit and loss statement.
Flexible Employment History: While traditional loans often require two full years of self-employment, many 1099 programs may consider borrowers who have been 1099 contractors in the same industry for as little as 12 months.
Asset Depletion Loans
Asset Depletion Loans are designed for high-net-worth individuals who have significant liquid assets but may not have a traditional or steady monthly income. Instead of looking at pay stubs, lenders "deplete" your total qualifying assets over a set period (usually 36 to 84 months) to create a theoretical monthly income that is used to qualify you for the mortgage.
No Employment Required: This is an ideal solution for retirees, venture capitalists, or individuals between businesses who have substantial savings but lack a recurring salary or W-2 income.
Broad Range of Eligible Assets: You can typically use a variety of liquid accounts to qualify, including checking and savings accounts, stocks, bonds, mutual funds, and even certain vested retirement accounts.
Standard Mortgage Terms: Despite the unique qualification method, these loans often look like traditional mortgages, offering standard 15- or 30-year fixed rates and competitive terms.
how it works
Partnering in Your Real Estate Success
Consultation
Discuss your needs and financial goals with our experts.
Application
Complete a simple application to start the financing process.
Closing
Finalize your mortgage and receive the keys to your new home!
Thank you for choosing me. I am dedicated to helping you achieve your homeownership goals with personalized service and expert guidance. For more information or assistance, feel free to reach out to me anytime!
2026 Spilman Lending at Tatum Mortgage