Loan Programs at Mortgage X
We offer a variety of mortgage solutions designed to meet the diverse needs of homeowners. Understanding that each client’s financial situation and homeownership goals are unique, we provide personalized guidance to help you select the best loan option.
Conventional Loans
Conventional loans are a popular mortgage option for home financing, offering versatility in terms and conditions not typically found in government-backed loans. Ideal for borrowers with strong credit, conventional loans can be used for purchasing primary residences, second homes, and investment properties
Benefits
- Flexibility in Loan Terms
- Competitive Interest Rates
- Lower Mortgage Insurance Costs
FHA Loans
Federal Housing Administration (FHA) loans are designed to help homeowners with less than perfect credit. These loans offer competitive rates and require lower down payments for home buyers.
Benefits
- Low down payment requirements (as low as 3.5%).
- More lenient credit score requirements.
- Available to first-time and repeat buyers.
VA Loans
Veterans Affairs (VA) loans are available to veterans, active-duty military personnel, and certain other military associates. These loans offer competitive terms with no down payment and no private mortgage insurance (PMI) requirement.
Benefits
- No down payment required.
- No PMI required.
- Refi Cash out up to 100% LTV
HELOC/HELOAN
(Home Equity Loans)
Home Equity loan options provide homeowners with a flexible and accessible way to utilize the equity they have built up in their homes. Ideal for borrowers seeking to finance major expenses such as home renovations, educational costs, or to consolidate high-interest debt, HELOCs offer a revolving credit line that homeowners can draw from as needed.
Benefits
- Accessibility to Home Equity
- Interest-Only Payment Options
- Potential Tax Advantages
Alternative Income Documentation
Alternative income documentation mortgages, often referred to as non-qualified mortgage (non-QM) loans, provide flexible solutions for borrowers who cannot meet the strict income verification requirements of traditional loans. These options are ideal for self-employed individuals, freelancers, real estate investors, or those with irregular income streams. By leveraging alternative methods to assess financial stability, lenders can offer financing to a broader range of applicants. Below are the key alternative income documentation methods used in mortgage lending:
- DSCR – RENTAL PROPERTIES
- NO W2(s) – NO TAX RETURNS
- NO RATIO – NO DOC
- BANK STATEMENT
- P&L ONLY – 1099 ONLY
- ASSET QUALIFICATION
- FOREIGN NATIONAL
Investment Loans
Fix & Flip Bridge Loans Short-term flexible financing options to purchase new properties or refi your existing ones. One or Two Year loans with competitive rates and terms. We’ll even finance up to 100% of your renovation costs!
Rental Property Loans Long-term rental financing provides fully-amortized, interest-only loans with competitive rates and ideal term options to maximize cash flow for new properties or consolidate your portfolio into a single loan.
Reverse Mortgages
A reverse mortgage is a type of loan available to homeowners who are typically 62 years old or older. Unlike a traditional mortgage where the borrower makes monthly payments to the lender, with a reverse mortgage, the lender makes payments to the borrower. These payments can be received as a lump sum, monthly installments, a line of credit, or a combination of these options. The loan is secured by the equity in the borrower’s home.
Benefits
- Provides a source of income
- No monthly mortgage payments
- Flexibility in how funds are used
Solar-Assisted Mortgage
Solar-Assisted Mortgages combine traditional home financing with the long-term savings and environmental benefits of solar energy. Designed for homeowners who want to lower utility costs while building equity, this mortgage option allows you to finance both your home and a solar energy system in one streamlined process.
Benefits
- Lower Energy Bills
- Increased Home Value
- One Simple Monthly Payment