A Non-Conforming Loan can be an option when your loan amount exceeds the conforming loan limit, $647,200 for most U.S. counties.
Potential benefits include:
- Jumbo and Super Jumbo loan amounts of up to $30 million or more
- Flexibility to choose either a fixed-rate or an adjustable-rate mortgage (ARM)
- Personalization for complex financial situations
- Financing for non-owner occupied properties
What Is a Non-Conforming Loan?
A non-conforming loan is a mortgage that doesn't meet the guidelines for a conforming loan set by Fannie Mae and Freddie Mac. Often a loan is classified as non-conforming because the loan amount exceeds the conforming limit, which is $647,200 in most U.S counties. In addition to higher loan amounts, non-conforming loans from Axos Bank can offer expanded down-payment and credit qualification options.
Is a Non-Conforming Loan Right for you?
Non-conforming loans may be the right solution when looking for:
- Expanded guidelines and enhanced options
- Tailored mortgage solutions for unique financial situations
- Customized Portfolio Loans and Interest-Only Mortgages