We call a home loan non-conforming because these types of loans are not backed by the two government-sponsored enterprises, Fannie Mae and Freddie Mac.
What is a Non-Conforming Mortgage?
Did You Know?
Non-conforming loans are a great choice when the value of your chosen home exceeds the county loan thresholds.
The most popular non-conforming mortgage is Jumbo because it allows you to purchase a larger home without tapping into your savings. The good news is, they come with similar rates to any other loan. The bad news is, they usually require greater down payments (at least 20%) and more detailed financial documentation on your part, because lenders assume greater risks with these loans.
Non-Conforming Mortgage is for you if:
– You’re looking for a mortgage that lets you exceed county loan limits
– You have an excellent credit score with extensive financial documentation
– You can afford greater down payments and higher interest rates
Loan Features
– You’re looking for a mortgage that lets you exceed county loan limits
– You have an excellent credit score with extensive financial documentation
– You can afford greater down payments and higher interest rates
If you’re thinking about applying for a Non-Conforming Mortgage, our experts are more than willing to help you.
Interested in a different loan?
Back to All Loan Types
Check out our other loan products to find the perfect mortgage for your needs.