Non-conforming loans are designed for borrowers that do not meet ‘standard’ bank criteria and may include seasonal or contract workers, non-residents, small or no-deposit holders or even those with a poor credit history. This type of loan may also be suitable if you wish to borrow 100% of the property value. In most cases non-conforming loans attract a higher rate of interest.
If you need more information on these types of home loan products and how they suit your individual home loan needs, our mortgage consultants can help