Unconventional Mortgages and Loans - A Wealth of Information and Service
Contact a Loan Officer: (800) 718-8906
Contact a Loan Officer: (800) 718-8906
A mortgage loan can serve as an effective tool for both personal and business purposes. At BrokerMortgages.com, our mortgage programs may be the ideal solution if you are facing any of the following:
Often, consolidating consumer debt into a mortgage can shorten the repayment period—especially if you continue making the same total monthly payment. For example, assume you have $30,000 in credit-card debt with minimum payments totaling $1,200 per month, plus a $30,000 auto loan with a $600 monthly payment. Together, those obligations require $1,800 per month. If you consolidate the full $60,000 into a second mortgage at 8% and continue paying $1,800 per month, the loan would be paid off in approximately 38 months, or just over three years. By consolidating multiple debts into one mortgage payment, you may be able to:
Our home-loan programs empower you to settle bad debt and position yourself for a higher credit score. Many mortgage interest payments are tax-deductible. At BrokerMortgages.com, we bring hundreds of combined years of lending experience and specialize in unconventional home-loan solutions.
With hundreds of mortgage products across diverse lenders, we are committed to crafting the perfect solution for your unique situation. Starting the process is simple and entirely free. If your situation does not initially qualify for a preferred mortgage, we will work with you—at no charge—to improve your loan scenario until you become eligible.
Self-Employed homeowners also need options when in the market for a second mortgage and bank statements are often, almost always the way to go. Second mortgage bank statement loans allow self-employed borrowers to qualify for second mortgage without refinancing their existing first mortgage. Instead of using the typical income documentation such as the tax returns, we can qualify your actual income. Your income can be calculated from your eligible income deposits shown on personal or business bank statements, typically covering 12 or 24 months. Use this option for any purpose such as debt consolidation, home improvements, business purposes (no doc available), or other large expenses when traditional income documentation does not accurately reflect the borrower’s cash flow.
Second mortgage niche loans provide additional financing options for borrowers who may not fit conventional lending guidelines. Depending on the program, qualification may be available using alternative documentation such as bank statements, 1099 income, profit-and-loss statements, written verification of employment, asset-based income, or other non-traditional methods. These programs can help borrowers access home equity for debt consolidation while preserving the rate and terms of an existing first mortgage.