Mortgage rules have changed a lot over the past couple of years. As a result, fewer people are qualifying for mortgages offered through more traditional lenders such as banks.
Thankfully, there are lots of alternative options available when you’re working with your trusted mortgage broker. I have access to a broad range of mortgage choices to fit your unique needs – whether you’re a first-time buyer, self-employed or even if your credit has taken a hit.
Alternative lending can help you secure the affordable funds you require right now to get into a home as opposed to waiting to make a purchase.
Perhaps the income you claim on your taxes isn’t high enough for you to qualify with a more traditional lender? Or, maybe a divorce or illness has affected your credit? Regardless of your situation, there are affordable options available outside the traditional lending realm.
Is There A Catch?
All mortgage rates are set based on borrower risk. As such, alternative mortgages are moderately more expensive than traditional options.
But the tradeoff is extremely reasonable: you pay a slightly higher interest rate in exchange for property financing that allows you to begin building home equity sooner.
And, alternative lending solutions are meant to be a temporary solution until you’re able to qualify with banks and other traditional lenders once again. I’ll help build a plan to get you back into traditional financing as soon as possible.
Do you have questions about your best mortgage options? Answers are a call or email away.