Loan Programs

Xpert Home Lending has access to over 100 Lender Partners. We offer a wide variety of mortgage programs to cater to the diverse needs of our clients. Here's a list of various types of mortgage programs available:

1. Conventional Fixed-Rate Mortgages: These mortgages have a fixed interest rate for the entire loan term, usually 15, 20, or 30 years.

2. Adjustable-Rate Mortgages (ARMs): These mortgages have an interest rate that adjusts periodically, usually annually, based on a specific index and margin.

3. Interest-Only Mortgages: These loans allow borrowers to pay only the interest on their mortgage for a specified period, typically 5-10 years, before principal payments begin.

4. FHA Loans: These are government-backed mortgages insured by the Federal Housing Administration, designed for low-to-moderate-income borrowers and those with less-than-perfect credit.

5. VA Loans: These mortgages are guaranteed by the U.S. Department of Veterans Affairs and are available to eligible veterans, active-duty military personnel, and their families.

6. USDA Loans: These are government-backed mortgages offered by the U.S. Department of Agriculture, designed for low-to-moderate-income borrowers in eligible rural and suburban areas.

7. Jumbo Loans: These mortgages are designed for borrowers who need to finance a loan amount higher than the conforming loan limits set by Fannie Mae and Freddie Mac.

8. Super Jumbo Loan Program: This is a specialized mortgage program designed for high-net-worth individuals seeking to finance ultra-luxury properties or estates. Super Jumbo loans have even higher loan limits than traditional jumbo loans and often come with more flexible terms and underwriting requirements to accommodate the unique needs of these borrowers.

9. Down Payment Assistance Programs: These programs provide grants or loans to help eligible borrowers cover their down payment and closing costs.

10. Home Equity Loans: These are second mortgages that allow homeowners to borrow against their home equity, typically in a lump sum.

11. Home Equity Lines of Credit (HELOCs): These are revolving lines of credit secured by a homeowner's equity, allowing them to draw funds as needed.

12. Bridge Loans: These are short-term loans designed to help homeowners finance the purchase of a new home before selling their current one.

13. Construction Loans: These loans are designed to finance the construction of a new home or major renovations on an existing property.

14. Renovation Loans: These are loans that combine the purchase price of a home with the cost of renovations, allowing borrowers to finance both in a single mortgage.

15. First-Time Homebuyer Programs: These are specialized loan programs designed to help first-time homebuyers with down payment assistance, lower interest rates, or reduced closing costs.

This list is not exhaustive, as there are many specialized and niche programs available to cater to the unique needs of borrowers. At Xpert Home Lending, we work closely with our clients to help them find the best mortgage program for their individual circumstances.

Non-Qualified Mortgage (Non-QM) programs are designed for borrowers who may not meet the strict guidelines set forth by the Consumer Financial Protection Bureau (CFPB) for Qualified Mortgages (QM). These programs often cater to borrowers with unique financial situations or unconventional income sources. Here are several types of Non-QM mortgage programs:

1. Bank Statement Loans: These loans are designed for self-employed borrowers or those with non-traditional income sources. Instead of using tax returns or W-2s, lenders review bank statements to determine the borrower's income and ability to repay the loan.

2. Stated Income Loans: These mortgages allow borrowers to simply state their income without providing extensive documentation. These loans are typically designed for self-employed borrowers or those with complex income structures.

3. Asset Depletion Loans: These loans are designed for borrowers with substantial liquid assets but irregular income. Lenders consider the borrower's assets as a source of income, allowing them to qualify for a mortgage without traditional income documentation.

4. No Ratio Loans: These mortgages do not require the borrower to disclose their debt-to-income (DTI) ratio. They are designed for borrowers with high income but significant debt, or those who have complex financial situations.

5. No Income, No Asset (NINA) Loans: These loans do not require the borrower to provide any documentation of income or assets. NINA loans are designed for borrowers with non-traditional income sources or privacy concerns.

6. Non-Owner Occupied Investment Property Loans: These loans cater to real estate investors looking to finance non-owner-occupied properties. Non-QM investment property loans often have more flexible underwriting guidelines and can accommodate higher debt-to-income ratios or lower credit scores.

7. Interest-Only Non-QM Loans: These loans allow borrowers to pay only the interest on their mortgage for a specified period, with more flexible underwriting guidelines than QM interest-only loans.

8. Foreign National Loans: These loans are designed for non-resident foreign nationals seeking to purchase property in the United States. They often come with flexible underwriting guidelines and do not require traditional income documentation or U.S. credit history.

Please note that while Non-QM loans offer more flexibility in underwriting, they often come with higher interest rates and stricter requirements for down payment and reserves due to the increased risk to the lender. At Xpert Home Lending, we can help you navigate the various Non-QM programs available to find the best fit for your unique financial situation.

Check Out Our Lender Partners.