Non-Conventional Loans/Investor Loans

These are loans on 1-4 unit properties being purchased as rentals for investment purposes, rather than as primary, owner-occupied residences. Traditionally, these mortgages required a 30% down payment, but in recent years numerous alternative products have been introduced that require as little as 5% down.

Portfolio Loans

Portfolio loans are specialty loans designed for the borrower who needs less stringent qualifying guidelines than the conventional borrower. Because the lender doesn’t plan on selling the loan in the secondary market, the loan doesn't have to conform to Fannie Mae or Freddie Mac lending guidelines.

Sometimes portfolio loans are useful if you've had some past credit issues or other special financial circumstances. They're also a unique option for certain non-conforming properties, like a seasonal cottage or a property being purchased as a residence in an area zoned for commercial use. Portfolio loans fit a lot of niches, and are often a good solution to resolve what would be potential deal breakers on other types of loans.