Non-Conforming Mortgage Loans

2018 is an amazing time to review non-conforming mortgage loans with 1st and 2nd line options available with jumbo home loans for higher loan amounts and bad credit refinancing. Meet mortgage lenders offering non-prime loans for home buying, refinance, cash out, and debt consolidation regardless of past credit problems. Take out a sub-prime second mortgage or unconventional equity loan from a trusted national lending source that will try and help you refinance all of your revolving debts into one lower monthly mortgage payment. Get a free, no-obligation quote on non-conforming home loans today and let us help you find the best equity loan options for maximizing your monthly savings!

What is the significant difference between conventional and non-conforming second mortgage loans?
High cost metro areas require jumbo mortgages for new home purchase loans.
Conventional loans conform to the standard underwriting guidelines that are outlined by Fannie Mae and Freddie Mac. Non-conforming 2nd mortgages are loans that exceed the boundaries set by Fannie or Freddie. Loan to Value, size of loan, credit and type of income documentation are typically the factors that determine "non-conforming" criteria.

Non Conforming Second Mortgage Loans
(Sub-Prime Second Mortgage Tips:)
By Rebecca O'Connor

Borrowers that find they are in over their head with debt and credit card payments may also discover that they suddenly have low Ficos and bad credit as well. Many consumers assume that once they've dug this hole there is no getting out. However, today's mortgage products also offer solutions to those who no longer have good credit. Non-conforming loans are available to consumers with home equity from many reputable mortgage companies not only for a purchase loan, but also for second mortgages. The underwriting guidelines for second mortgages became more lenient recently and may be the answer for those that are burdened with unsecured debt.

Bad credit equity home loans, often called a sub-prime second mortgage can help borrowers that have hit hard times get back on their feet. These loans can be easier to secure than a refinance to cash out on home equity. Even borrowers with bankruptcies and late mortgage payments can likely qualify for a loan.

Using an unconventional mortgage to consolidate your debt can save you money on interest, lower your payments and raise your credit score. A fixed rate home equity loan can also eliminate the annual fee of credit lines. Once your payments are manageable and are being made consistently on time, this will also help your credit score rise. This trick, of course is to cut up credit cards and stay on track getting out of debt.

There are many more options today for securing and using a second mortgage. Marc Stefanski, chairman and CEO of Third Federal Savings & Loan, notes that "Today, second mortgages are widely acceptable. People view their homes as just another way to tap into their credit." He warns though that, "Debt is not bad, as long as it's managed. On the other hand, it can get away from you very quickly." Don't forget that it is your home that secures your debt in a second mortgage. A bad credit second mortgage can get you back on your feet, but if you don't curb your debt building, you could lose your home. Find a lender you trust, then choose and use your nonconforming second mortgage wisely.

Rebecca is a respected writer and article contributor to the Desert Magazine and Los Angeles Times. For the latest interest rates for fixed rate 2nd mortgages and interest only lines of credit, please visit the online resources at Second Mortgage Refinancing. Please visit these additional resource websites: To get a free loan quote for a low rate second mortgages for people with all types of credit, please check out the special loan offers for lower payments. If you need more loan advice about credit lines, take a look at the flexible programs offered for second mortgage loans with bad credit.

Resource Tools

ARM vs. Fixed Rate Calculator
How does a fixed rate 1st or 2nd mortgage compare to an adjustable rate mortgage or home equity line of credit?

Find the best loan in your state

Related Second Mortgage Pages:
No Documentation | Second Mortgage Behind Neg Am Loan | Low Closing Cost Options | Preferred Second Mortgage Loans | Low Rate Options | Refinancing | 80% | 90% | 95% | 100% | 105% | 115% | 125% | Debt Consolidation | Product Overview | 125 Mortgage Piggyback | Option ARM Mortgage | Home Loan Index | Home Equity Mortgage Loan Demand Soars
Apply Now | Disclosures and Terms | Home Loan | About Us | Contact Us | Testimonials | Privacy
BD Nationwide Mortgage, 515 Encinitas Blvd. Ste 100, Encinitas, California 92024
Please be aware that this is not an advertisement for credit as defined by paragraph 226.24 of regulation Z. Nothing on this site contains an offer to make a specific home loan for any purpose with any specific terms. This is a web-site and non-conforming mortgage loans cannot be guaranteed as loans and rates are subject to change. BD Nationwide was affiliated with national lenders and a federally chartered bank located in Maryland licensed to offer home loans in all 50 states. Copyright © 2001-2018 and Beyond, is a website and cannot make non-conforming loans. All rights reserved.