Non-Conforming Mortgage Loans
Finding you the mortgage you deserve
Non-Conforming Mortgage Loans
A non-conforming loan is a home loan that does not conform to the underwriting guidelines set forth by the government-sponsored enterprises Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation).
We offer a number of options for non-traditional income for our borrowers who may not fit into a perfect box. We specialize in finding a solution for unique situations.
Non-Conforming Mortgage Loan Advantages
- An option if you are unable to qualify for a conforming mortgage.
- Higher loan amounts available in the case of jumbo loans.
- Depending on the loan option, you might be able to buy different types of property than you could with a standard conforming loan.
- You might be able to get a non-conforming loan if you have a negative mark on your credit like a recent bankruptcy.
Non-Conforming Mortgage Loan Disadvantages
- A minimum down payment of 20% or more.
- Stricter credit-qualifying criteria, with more scrutiny of your credit profile and income.
- A higher mortgage interest rate.
