Loan options overview -> Unconventional loans

Unconventional loans

Mortgage brokers offer a wide range of unusual loan products
sourced from large banks, mortgage banks, savings and loans, credit unions,
and private lenders.

Private money lending may be available for borrowers or properties not financeable by conventional lenders.

Borrowers who have an unusual situation like those listed below may be told that they cannot get a loan. Often they simply haven’t looked in the right place. Below is a partial list of the outside-the-box loan scenarios that may find a home with the right lender. These loans often have higher interest rates and fees than a conventional mortgage:

  • Foreign National
  • Mega-jumbos to $15 million
  • Vesting in an LLC
  • Condotels
  • No minimum credit score
  • Payoff debt to qualify
  • 40-year amortization
  • Pledged assets
  • Cross-collateralize other properties
  • Asset depletion for income
  • Large acreage
  • Rental income from departing residence
  • Business funds for down payment
  • Live/Work
  • Unpermitted additions
  • Already owns 5 or more financed properties
  • Mixed-use properties
  • Pledged assets in lieu of down payment
  • Very high debt-to-income ratio
  • Restricted stock for income/assets

Another option may be private money lending which is available for borrowers or properties not financeable by conventional lenders.