Unconventional Mortgages (800) 718-8906

Unconventional Mortgages and Loans

(800) 718-8906

Unconventional Mortgages - A Wealth of Information Resource & Service: (800) 718-8906


Unconventional Mortgages

Unconventional mortgages or Non-Traditional mortgages are different from conventional or traditional mortgages. Unconventional mortgages offer more flexible terms in terms of repayment schedules, or qualification criteria. For instance, they might have interest-only periods or adjustable rates that can be beneficial for certain borrowers. They are often designed for particular groups like self-employed individuals, those with irregular income streams, or multiple sources of income.

Creative Financing: These mortgages may employ unique financing structures, such as shared equity arrangements where the lender shares in the property’s appreciation, for example.

Diverse Options: Unconventional mortgages encompass a wide range of options, including interest-only mortgages, >43% DTI ratio (debt-to-income), 40-year term/amortization, adjustable-rate mortgages (ARMs), piggyback loans (where a second mortgage is taken alongside the primary mortgage), and more.

In essence, what makes unconventional mortgages special is their departure from the typical structure, offering more tailored options for specific borrower needs but often coming with higher risk and potential complexity.

Alternative Income Documentation

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