Business owners tend to lean towards Non-Conventional Loans because they allow the borrower to prove they can pay back the loan without the typical requirements of other financial products. For example, proof of income without a W2.

Pros

  • Alternative options for Business owners
  • Alternative for a non-Qualified Mortgage
  • Alternative to a hard money loan.
  • Options for buyers with recent foreclosures, bankruptcy or short sale.

Cons

  • Higher closing cost. Points are charged.
  • Most loan terms are for a short period.

Types of Non-Conventional Loans

Jumbo Loans
Foreign National
Non-Warrantable Condos