http://creativefinancing101.com Guide to Zero Down, Bad Credit, FHA, Seller Financing, and Hard Money Loans Sat, 12 Sep 2009 18:36:16 +0000 hourly 1 http://wordpress.org/?v=3.0.4 http://creativefinancing101.com/non-conforming-mortgage-loans-from-traditional-lenders/comment-page-1/#comment-2 Non-Conforming Mortgage Loans from Traditional Lenders | Creative Financing 101 Tue, 13 May 2008 22:48:20 +0000 http://creativefinancing101.com/non-conforming-mortgage-loans-from-traditional-lenders/#comment-2 [...] If you cannot meet the conforming lending standards (i.e. your needed loan exceeds the limit or you have a poor credit score), a bank may still be willing to give you a mortgage. Instead of using the standards set by the GSEs, the bank will use its own requirements. The bank will not be able to sell your non-conforming mortgage to Fannie Mae or Freddie Mac. It may also have a more difficult time selling the mortgage to other lenders. Because of the perceived risk of default and the difficulty of selling your loan on the secondary market, the bank will give you a higher interest rate. Read more… [...] [...] If you cannot meet the conforming lending standards (i.e. your needed loan exceeds the limit or you have a poor credit score), a bank may still be willing to give you a mortgage. Instead of using the standards set by the GSEs, the bank will use its own requirements. The bank will not be able to sell your non-conforming mortgage to Fannie Mae or Freddie Mac. It may also have a more difficult time selling the mortgage to other lenders. Because of the perceived risk of default and the difficulty of selling your loan on the secondary market, the bank will give you a higher interest rate. Read more… [...]

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