Who it is for
- You need more than the conforming loan limit.
- Your income is real but does not show up neatly on a W-2.
- The property is unusual enough that a standard guideline says no.
How it usually works
- We ask which lenders are actually buying this kind of loan this month.
- Expect more documentation, more reserves, or a larger down payment.
- We will say so if a conforming or government loan is the cleaner path.
Read this before you get attached
- These loans can have higher rates, prepayment terms, or balloons. Read the Loan Estimate.
- A “yes” from one lender is not a yes from the market.
Questions worth asking
- Why is this file outside conforming guidelines?
- What happens at the end of any interest-only or balloon period?
- Which fees are refundable if the loan does not close?
These loans differ by lender. Ask which ones are actually available before you plan around a specific product.