What is a Non Conforming Home Loan?

There are a variety of reasons why a borrower might require a non conforming loan. Some borrowers have a history of credit impairment, others are self-employed and for some it may be a case of not having held their job for long enough. Many Borrowers have become a victim of Lenders tightening ¬†their credit policies since the GFC to keep the cost of their funding down. A vast majority of these borrowers are more than capable of servicing a loan but for one reason or another they don’t comply with prime lender policies.
  • You have started a new job on probation
  • You have started a new business.
  • You do not have your financials up to date
  • You may have multiple units on one title
  • You have a large number of credit enquiries
  • You are discharged from bankruptcy or part 9 or 10.
  • You wish to refinance a Private Loan
  • You have a bad credit history and have a satisfactory explanation for this.
  • You have tax debts that need to be paid out as part of the refinance.
  • You require working capital for your business
  • You wish to purchase an inner city apartment or a serviced apartment.
  • Your Bank does want you as a customer.
  • The mortgage insurer will not insure your loan

The diversity of our lenders means there is no one size fits all product. By using our loan service, you benefit from our widespread knowledge of today’s credit options. Your finance quote and approval is simply based on our expertise and your credit standing. Once you have completed the online form we will contact you to discuss your options and then follow the application process through to settlement.