Non-Conforming Loans

Allows clients with past credit problems or a high debt to income ration to obtain financing.  Rates for Non-Conforming loans are typically higher than Conventional loans. Some lenders refer to this type as a "credit repair loan".  Most clients who obtain this type of financing do so with the intention of  refinancing to more favorable loan terms in 1-2 years or once they resolved their credit or debt issues.  

Non-Conforming loans allow borrowers who have had a past bankruptcy, foreclosure or recent late payments on their mortgage or installment accounts.  These loans are available in fixed rates and 5/1, 7/1 and 10/1 adjustable rate mortgages.  There are no prepayment penalties.

Allows borrowers with past credit problems to obtain financing today to buy a new home or refinance to pay off debt to qualify.  

Clients who cannot qualify for more favorable terms but require financing today.  Note: at Quick and Closed, we review all of your loan options with you and you always make the final decision on which program works best for you.  

There are more financing options available today then 10 years ago?  With Non-Conventional loans, we now have a loan for every home!