Non-Conforming Programs

Non-conforming loans, simply put, are mortgage loans for borrowers whose situations do not “conform” to standard federal underwriting guidelines. In other words, applicants with “less than perfect” credit should not be discouraged. There is opportunity for home ownership for everyone.

This type of program typically offers the borrower:
- Faster closing
- Reduced or no reserve requirements
- Expanded use of loan proceeds
- Higher levels of cash out for debt consolidation
- Higher loan to values, etc.

One of the most popular non-conforming loans is the 100% financing program, or "no down payment" loans. These loans cater to those seeking to purchase or refinance with little or no down payment or equity. In some cases, closing costs may even be included in the loan amount. 

The 100% loan program is perfect for:
- First-time home buyers
- Buyers with limited resources and funding
- Young adults entering the workforce, building up their assets
- All people who want to achieve the dream of home ownership
- Those wanting to refinance with no equity

We offer solutions for all types of borrowers, including credit challenged and self-employed. Contact an HFCU mortgage professional to discuss your personal situation. Call
1-800-533-4004 or email us at mortgage@myhoneywellfcu.com.


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