Non Conforming Loans

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A Complicated Past May Still Secure You a Home Loan

NonConformingLoans.com.au is Letting Home Buyers Know They Can Still Get A Loan Even If They Don’t Meet A Bank’s Credit Criteria

Non Conforming Loans is known for their “out of the box” loan options and they specialize in loans that meet the needs of individuals who have been declined by traditional lenders and/or who might need a loan for reasons that don’t meet the strict criteria of most banks.

There are many reasons why certain borrowers will not meet the lending requirements set out by traditional lenders:

•Bad credit history – these borrowers have generally experienced a “life event” such as a marriage breakdown, illness or a business failure and are considered high risk by most lenders even if they have overcome the event that caused the impairment

•Non Standard Income – borrowers with irregular income, such as Contractors, applicants on Probation, Short Term Employed or Self Employed without lodged Tax Returns, may not fit the criteria of mainstream lenders.

•Loan Purpose – these borrowers may require cash out to pay tax debt or consolidate multiple unsecured loans such as credit cards, personal or car loans or business debts and can be rejected by prime lenders.

•Credit Scoring – Most Banks and Mortgage Insurers have adopted statistics-based credit assessment models that do not offer the flexibility specialist lenders can provide.

Those interested in any of these types of loans can begin the application process directly on the website. For those who are unsure about applying for a loan or who aren’t completely comfortable beginning the application process online the website offers full contact information so that potential borrowers can call to speak with a loan specialist.

To learn more visit Non Conforming Loans website at http://nonconformingloans.com.au/ or call 1300 791 329 to speak with a specialist mortgage broker.