Common Nonconforming Programs

Whereas there may be dozens of conforming loan programs available at any given time, there are probably thousands of different non-conforming programs. Non-conforming lenders design loans for specific conforming guideline restrictions--or rather for the borrowers and situations that fail to meet those conforming restrictions.

Most non-conforming programs tend to fall within the following six categories:

  • Second mortgages
  • Jumbo loan amounts
  • Damaged credit
  • Loan-to-Value (LTV) ratios
  • Income qualification
  • Asset verification

In addition or related to the above, a number of non-conforming scenarios also steer many borrowers toward nonconforming programs. Wherever the conforming loan proves too restrictive, chances are that a non-conforming loan exists to serve that niche market.

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Real Estate Planning And Prosperity

Real Estate Planning And Prosperity

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