Non-conforming Loan

June 23, 2015
Are you self-employed and have difficulty in proving your income?

If you answer “yes”, you may wish to consider a Non-Conforming loan. 

Non-conforming loans and non-conforming lenders are also high profile casualties of the global financial crisis.

There still exists lenders that provide non-conforming loans, but there are fewer players in this market segment than 2 years ago.

Changes to non-conforming loans since the global financial crisis:

  • Fewer products/providers in the market place
  • The borrower requires at least 20% equity within the transaction
  • Higher interest rates
  • Less lender tolerance to poor credit history

Better Choice strongly recommends that borrowers seek independent legal and financial advice prior to taking out a Non-conforming Loan.

Better Choice Mortgage Services is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to, or reliance on any information contained within this website. While the information contained within this website is periodically updated, no guarantee is given that the information provided in this website is correct, complete, and up-to-date. Although the Better Choice Mortgage Services website may include links providing direct access to other internet resources, including websites, Better Choice Mortgage Services is not responsible for the accuracy or content of information contained in these websites. Links from Better Choice Mortgage Services to third-party sites do not constitute an endorsement by Better Choice Mortgage Services of the parties or their products and services. The appearance on the website of advertisements and product or service information does not constitute an endorsement by Better Choice Mortgage Services, and Better Choice Mortgage Services has not investigated the claims made by any advertiser. Product information is based solely on material received from suppliers. Advanced Finance (Pty) Ltd t/a Better Choice Mortgage Services are not financial planners or accountants and we would encourage our clients to seek professional advice before acting on any a financial or taxation information in this news post.

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