A Non-Conforming Loan can be an option when your loan amount exceeds the conforming loan limit-$453,100 for most U.S. counties.
Potential benefits include:
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 $453,100 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.
Non-conforming loans may be the right solution when looking for:
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