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Non-Conventional Mortgage

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Home Loans for Teachers: Affordable Mortgages and Assistance

Given today’s home prices, buying a home on a teacher’s salary ain’t easy. If you’re a teacher and aspiring home buyer, you should know that many home loans are specifically designed for educators to help them purchase real estate. And you can also take advantage of mortgage assistance programs to help make buying a home...

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Reverse Mortgage Problems for Heirs and What To Do Next

If you’ve recently lost a parent or loved one, you are likely feeling all kinds of emotions right now – shock, sadness, confusion and anxiety, to name a few. Your confusion and anxiety will likely intensify if you get a notice from a lender telling you the home you’ve inherited has a reverse mortgage, and...

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Should Doctors Consider a Physician Mortgage Loan?

If you’re a recent medical school graduate, you may have heard of physician mortgage loans, also known as doctor loans. Considering the student debt that usually comes with medical school, it’s natural to look into all of your mortgage options. Learn everything you need to know about physician mortgage loans, how they work, how to...

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What Is a Chattel Mortgage, and When Would You Use One?

Regardless of what interest rates are doing, there are always prospective home buyers interested in the idea of alternative housing, like manufactured homes, often referred to as “mobile” homes.  However, if you’re interested in a home that isn’t set on a permanent foundation, you will likely need to seek alternative financing to a traditional mortgage)....

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How and When To Refinance a Jumbo Loan

You bought the house of your dreams with a jumbo loan, but it’s been a few years, and you’re wondering if you should refinance. The answer is … it depends. Knowing how and when to refinance a jumbo loan isn’t as simple as refinancing a conventional loan. You need to consider a few things before...

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Nonconforming Loans: What Are They and How Do They Work?

If you’re exploring options for buying or refinancing a home, you might be worried about the minimum credit requirements associated with certain loans. Thankfully, when it comes to buying or refinancing a home with less-than-stellar credit, nonconforming loans can be a great solution. Nonconforming loans often get a bad rap, likely because their name implies...

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What is a Super Conforming Loan and How Does It Work?

The average U.S. mortgage loan is currently $305,000. That’s less than half of the conventional or conforming loan limit of $726,200 set by the Federal Housing Finance Agency (FHFA). But some home buyers will need to borrow more than the limit if they want to purchase a home.  In the majority of U.S. counties, exceeding...

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Participation Mortgage: What Investors Should Know

Have you ever wished you could invest in real estate without spending all your savings? Well, a participation mortgage might be the perfect solution for you. A participation mortgage allows multiple people or entities to team up and share in real estate investment costs and profits, while also reducing each participant’s risk exposure on a...

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Holding a Mortgage: Pros and Cons

Though most buyers will use a traditional mortgage to purchase their home, there are other options to explore when it comes to financing a home purchase. If you’re having a difficult time with traditional avenues of home financing – like a home loan from banks or other mortgage lenders or a Federal Housing Administration (FHA)...

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What Is a Hard Money Loan?

Sometimes you need money fast. Maybe you want to buy a new home, but you haven’t sold your old home yet. Or maybe you have your eye on an investment property or a home you want to flip.  If you need money for a real estate purchase and don’t have time to wait on mortgage...

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Nontraditional Mortgages: What You Need To Know Before You Apply

If you can’t qualify for a conventional loan or just aren’t interested in one, you may be wondering what other home loans are out there. Well, there are lots of options to choose from. And many of those options fit under the umbrella of “nontraditional” mortgages.  So what is a nontraditional mortgage, and is it...

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Condo Loans: Options and Requirements Explained

A condo can be a great option for someone who’s looking to live in an urban area. Condos combine the amenities of a rental apartment complex with the benefits of homeownership. But condos can be trickier to buy and sell because the community you’re purchasing your unit in has a unique set of rules. If...

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