What is a Conventional Loan?
A conventional home loan is one of the most common types of mortgages. A conventional home loan is not directly insured or guaranteed by the federal government, like FHA and VA loans. Conventional loans can be fixed-rate loans or adjustable-rate loans and are available for residential properties like single-family homes, multi-family properties up to 4 units, cooperatives, and condominiums.
A conventional home loan can be a fixed or adjustable-rate mortgage and are available for residential properties like single-family homes, multi-family properties up to 4 units, cooperatives, and condominiums.
What is a Non-Conventional Loan?
A non-conventional loan is a loan that does not meet the standard conventional loan guidelines. A borrower may qualify for a non-conventional loan for reasons such as:
- Being self-employed
- Having a history of bankruptcy
- Unsteady employment history
- Lack of sufficient income
GuardHill offers financing solutions for all scenarios. We specialize in eliminating roadblocks and providing solutions for our clients. Contact us today to learn more about our conventional, non-conventional, and many other loan programs.