Non Conforming Home Loan
Home Loan, Mortgage Broker, Credit Rating
If you have a default on your credit report, have a low credit score, or have not been employed long enough to show a history of earning an income, getting a home loan can be difficult, but it’s not impossible. Many lenders offer a product called a non-conforming home loan, this is a loan that does not require the normal application criteria of a standard home loan. Non-conforming loans will have a higher interest rate than traditional home loans and may have higher fees and charges with less flexibility. Non-conforming loans allow you to get the home loan you require and provide an opportunity to re-establish your credit file, enabling you to transfer to a traditional home loan down the track. An important factor to consider is that the exit fees on non-conforming loans can be quite high if the loan is paid out within the first 3 or 4 years. There are circumstances in which you can have defaults removed and we can assist you in understanding whether or not this can be achieved. If we believe you may be able to have your credit history repaired, we can refer you to industry partners to get the job done, prior to your home loan application. Non-Conforming Home Loans are a speciality of Assured Lending Mortgage Brokers. We have been successful in getting loans approved for clients who have previously been declined going through the banks or other, less experienced Brokers. Because of our experience with these types of loans and our relationship with the lenders who supply non-conforming home loans, we are able to structure your loan application with the best chance of approval. Call our office today and ask to speak to one of our Non-Conforming Credit Brokers to have a quick, obligation free, phone analysis of your situation.
, Credit Report
, Home Loan
, Mortgage Broker