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Sub Prime
Mortgages
Also known as Sub-Prime or B/C loans, Flexible Mortgages are for
borrowers whose credit is less than perfect and are in need of
special financing. These loans provide opportunities for self
employed borrowers or people with non- verifiable income, high
outstanding debts, blemished credit or urgent cash needs.
The lending industry
will rate your credit or qualifications based on the overall
credit risk of the loan you are applying for. In this
circumstance an "A" credit rating is better than an "A-" credit
rating, and "B" is better than "C" and so forth. Your
circumstances can cause your loan to be called Sub-Prime or
"B/C" loans simply due to the different aspects of the loan you
are asking for.
Any loan that falls
outside of the parameters of "Conforming" financing would be
considered Alternative Financing. This should not be a concern
for the consumer, as frequently our A+ borrowers also have needs
for little or no down payment loans for second homes or
investment properties. Self-employed borrowers may have a
substantial and unverifiable swing in income from year to year
that would not allow them to fall into the conforming
marketplace.
We have many
products available to our borrowers and below are listed some,
which may fit your circumstances:
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