Our Home Lenders USA Loan Programs
View our loan programs and find the one that suits your financial needs the best.

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Our Home Lenders USA Loan Programs
We work with a wide variety of home loans that will match anyone’s preferences!

Fixed Rate Mortgages (FRM)
When people think about their mortgage, they usually imagine a fixed rate model. This involves paying a fixed monthly payment with a set interest rate for the entire duration of your loan. Instead of fluctuating costs, you always know what you’ll have to pay. This type of mortgage is much safer financially as it ensures you can fit your mortgage into your budget and make adjustments as necessary without wondering whether the expense will change in the future. 

Benefits of a Fixed Rate Mortgage

• The same payment every month throughout the length of your mortgage
• Predictable, fixed interest rate that doesn’t change with the economy 
• Fixed term, usually 30 years, that makes it easy to plan your future
• Interest owed on the mortgage lowers over time through amortization

​Adjustable-Rate Mortgages (ARM)
As the name suggests, this is a home loan with an interest rate that is regulated based on market conditions. The initial interest rate is fixed for a time period, however, later, that rate changes periodically.

ARM is also known as a floating mortgage, and its interest rate is based on an index or benchmarks. ARM would be a smart financial choice for those people that are planning on paying off the loan in full within a specific time period or those who won’t be financially hurt when the rate is adjusted.

There are different types of ARM, and if you don’t know which one to pick, call Home Lenders USA, and our experts will help you find the best solution.

​Non Qualified Mortgage Loan (Non-QM)
Non-QM loans offer alternative financing options for borrowers who may not qualify for traditional QM loans. These programs often cater to individuals with unique financial situations, such as self-employed borrowers or those with non-traditional income sources. Here are some key features of Non-QM loan programs:

Non-QM (Non-Qualified Mortgage) loan programs are mortgage loans that do not meet the criteria for Qualified Mortgages (QM) as defined by the Consumer Financial Protection Bureau (CFPB). QM loans adhere to certain guidelines to ensure that borrowers have the ability to repay the loan.

Types of Non QM Loans

1. Flexible Qualification Criteria: Non-QM loans may have more lenient qualification criteria compared to traditional mortgages. This can include alternative documentation for income verification.
2. Interest-Only Loans: Some Non-QM loan programs offer interest-only payment options, allowing borrowers to make lower monthly payments initially.
3. Higher Debt-to-Income Ratios: Non-QM loans may accept higher debt-to-income ratios than QM loans, making it easier for borrowers with higher levels of debt to qualify.
4. Alternative Credit Histories: Borrowers with non-traditional credit histories or past credit issues may find Non-QM loans more accessible.
5. Investment Properties: Non-QM loans may be available for financing investment properties, allowing borrowers to diversify their real estate portfolios.
6. Bank Statement Loans: Self-employed individuals who may not have traditional income documentation can use bank statements to demonstrate their ability to repay the loan.

It’s important to note that Non-QM loans may come with higher interest rates and may carry additional risks for both borrowers and lenders. Borrowers considering Non-QM loans should carefully review the terms, understand the potential risks, and consult with a mortgage professional to determine the best fit for their financial situation.

Home Equity Line of Credit (HELOC)
A home equity line of credit, also known as a HELOC, is a line of credit secured by your home that gives you a revolving credit line to use for large expenses or to consolidate higher-interest rate debt on other loans such as credit cards. A HELOC often has a lower interest rate than some other common types of loans, and the interest may be tax deductible. Please consult your tax advisor regarding interest deductibility as tax rules may have changed.

How a HELOC works

• With a HELOC, you’re borrowing against the available equity in your home and the house is used as collateral for the line of credit. As you repay your outstanding balance, the amount of available credit is replenished – much like a credit card. This means you can borrow against it again if you need to, and you can borrow as little or as much as you need throughout your draw period (typically 10 years) up to the credit limit you establish at closing. At the end of the draw period, the repayment period (typically 20 years) begins.

Qualifying for a HELOC

• To qualify for a HELOC, you need to have available equity in your home, meaning that the amount you owe on your home must be less than the value of your home. You can typically borrow up to 85% of the value of your home minus the amount you owe. Also, a lender generally looks at your credit score and history, employment history, monthly income and monthly debts, just as when you first got your mortgage.

Federal Housing Administration Loans (FHA)
The Federal Housing Administration issues a federal Housing Administration Loan or FHA, and it is created for low to moderate-income mortgagors. FHA requires a lower minimum down payment and a credit score.

Qualifying for an FHA Loan​

• If you are interested in an FHA mortgage, then you will need to know the exact financial and employment requirements for your desired loan type. The general requirements include a FICO score of at least 500. Based on a range of 500 to 579, your required down payment will range between 3.5% to 10%.
• Before applying for an FHA loan, you’ll want to spend time building a good credit history. As a general rule, make sure you have at least 12 months of on-time payments and a debt-to-income ratio under 43%.
• We can help you review your current finances and determine whether it’s the right time to apply for a loan or if there are other steps you can take to increase your chances of approval.
• If you filed Chapter 7 bankruptcy, then at least two years must have passed before you can get approved for an FHA loan.

Types of FHA Loans
Besides traditional first mortgages, the FHA offers other loan programs, such as:

• Home Equity Conversion Mortgage (HECM) is a program that was created to help senior citizens aged 62 and older convert equality in their homes to cash while keeping the title to the property.
• FHA 203(k) improvement loans factor the cost of certain repairs and needed renovations into the loan. This way, you’ll get the money not only for purchasing the property but also for its renovation.
• FHA’s Energy Efficient Mortgage program is meant to provide upgrades that can lower your utility bills. These improvements can be new insulation or installation of solar or wind energy systems. The goal is to create an energy-efficient unit that will have lower utility bills and more available incomes for mortgage repayment.
• Section 245(a) loan is aimed at those people who expect their incomes to increase over time. The Graduated Payment Mortgage begins with lower monthly payments that slowly increase.

Veteran Affair Loans (VA Loans)
A VA (Veterans Affairs) loan is a type of mortgage loan that is guaranteed by the U.S. Department of Veterans Affairs. These loans are designed to assist eligible veterans, active-duty service members, and certain surviving spouses in obtaining home financing with favorable terms.

These types of loans come with many benefits:

• There is no down payment requirement
• No need for mortgage insurance
• They have the government as a guarantee
• There are no payment penalties
• Lower closing costs
• No private mortgage insurance (PMI) requirements unlike Conventional or Government home loans

​Halal Loan Programs
Muslim individuals seeking Halal financing options for buying homes or properties have access to Islamic home financing programs that comply with Shariah principles. These programs are designed to offer alternatives to conventional mortgages that involve interest (riba).

Common types of Halal home financing programs available:

• Murabaha Home Financing: This is a cost-plus-profit arrangement where the financial institution purchases the home and sells it to the buyer at a markup. The buyer then pays the purchase price in installments.
• Ijara Home Financing: In this lease-to-own arrangement, the financial institution purchases the home and leases it to the buyer for a fixed period. The buyer makes regular lease payments, and at the end of the term, the ownership of the property is transferred to the buyer.
• Diminishing Musharakah: This is a co-ownership arrangement where the financial institution and the buyer jointly purchase the property. The buyer gradually buys out the financial institution’s share, eventually becoming the sole owner.
• Lease-to-Own (Rent-to-Own): Some Islamic financing programs offer a lease-to-own option where the buyer rents the property with the intention of purchasing it later. This allows individuals to accumulate equity over time.
• Islamic Cooperative Financing: Cooperative housing models, where members collectively own and manage properties, can be structured in a way that complies with Islamic principles. Members contribute to a pool of funds to acquire and manage properties.
• Islamic Real Estate Investment Trusts (REITs): While not a direct financing option, Islamic REITs allow investors to participate in real estate investments without violating Shariah principles. Investors earn returns from rental income and property appreciation.

*When considering Halal home financing in the USA, individuals should research and contact Islamic banks, financial institutions, and credit unions that offer Shariah-compliant home financing options. It’s important to carefully review the terms, including profit margins, fees, and payment structures, to ensure compliance with Islamic principles.

Our team at Home Lenders USA took some time and made a quick step by step loan guide that will help you understand it better. However, if at any moment you feel confused or need further explanation, don’t hesitate to call us.

Our mortgage professionals will gladly guide you through every step of the way.

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