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Looking To Buy Your Dream Home? Apply For A Non-Conforming Loan

13th Sep 2019

For many people, buying their dream home is a dream that they hope someday will become a reality, and for the lucky few who have the financial means to buy their dream home, it is surely an exciting prospect. The non-conforming home loan, or jumbo loan, as it is also known, is a much better alternative to a traditional mortgage and there are online lenders who are ready to help you buy your dream home.

Non-Conforming Home Loans

You can, for example, apply for non-conforming home loans from reputable finance companies, the ones that always work hard to try and find a home loan that suits the borrower’s lifestyle. While interest rates might be slightly higher than a traditional conforming home loan, lenders are often prepared to accept borrowers with bad credit ratings, and self-employed people find it difficult to get a conforming home loan, as they very often do not meet the rigid criteria.

Dealing With An Established Home Loan Broker

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If you approach a traditional bank looking for a home loan, you are very limited with the loan packages on offer, yet by approaching an established loan broker, they have access to many different lenders and are more likely to be able to find a home loan that suits your lifestyle. The great thing about online finance brokers is that they deliver fast results, and it is not unusual for an application to receive pre-approval within an hour of submitting the application. Once you have mortgage pre-approval, you can begin the exciting process of house hunting, looking for that perfect residence.

Free Consultation

If you search online for an established loan broker, it won’t be long before you are talking to someone who can offer you the best advice, and that won’t cost you anything. Take note of non-conforming home loans from Debt Fix, for example. The company has experts that can quickly establish whether or not you qualify, and with access to many different lenders, they are likely to be able to source the perfect home loan.

Stress-Free & Rapid Results

We all know how long it can take for a bank to approve a home loan application, and waiting for weeks while the bank mulls over your application is no joke, indeed, it can be very stressful, especially if the application is rejected. This is yet another reason to approach an independent broker who can deliver quick results, and with pre-approval usually given within hours, you can begin the search for your dream home.

Meeting The Deposit Requirements

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If you are looking to buy your dream home, you probably have quite a bit of equity, and the more money you put down as a deposit, the easier the repayments will be. The amount of deposit to pay is something you can discuss with the broker, and as they have working relationships with many lenders, they can often source a home loan with a lower deposit. This does depend on the financial status of the borrower, and with the help of an experienced independent broker, everything is possible.

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