NON CONFORMING LOANS

Non Conforming Loans have been designed to help borrowers who do not meet standard lending guidelines. This includes borrowers who have impaired credit, are unable to provide the usual documentation required in support of their loan or simply do not meet the lending criteria of mainstream lenders.

Frequently asked questions from our clients regarding Non Conforming Loans:

Question:	When should I consider a non conforming loan?
Answer:	Non conforming loans are useful for times in your life which may be challenging, difficult or don't fit within the standard bank lending parameters. Below are some reasons to consider non conforming loans:
	Difficult security - a borrower seeking non-traditional security such as company title, studio apartments, serviced apartments, warehouse apartments, vacant land or resort style accommodation. No financial statements - a business or investment borrower unable to submit formal income confirmation. Irregular income - business investment or home loan borrower with irregular or partially unsubstantiated income details. Self employed people with a short business history. Credit problems - a borrower with poor credit history ranging from slow repayments on any current loans to a credit default.

Non Conforming Loans

Non bank lenders offer loans which fall out of the standard bank lending criteria. Examples of non conforming parameters are: different income type, credit impairments, non standard property or zoning.

Advantages

You are able to get a home or business loan - Usually fully featured loans with most options available - Different, (more practical) lending criterias . Disadvantages: - Higher interest rate - Fees and charges present - Sometimes early exit fees are payable.

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