Conventional Home Loans

Conventional Home Loan is a mortgage that is not backed or insured by the United States federal government (i.e. FHA, VA or USDA).
Conventional loans also known as a conforming loan are written to the guidelines set by Fannie Mae or Freddie Mac. Such mortgage loans are offered by local banks and held by that bank until it is paid off or sold.
Most conventional loan programs require 5% down. Because every loan is different it’s important to contact a professional at Kingdom Lending Group.

Non-Prime Loans

A non-prime mortgage is a loan program that does not fall in the same category as conventional loans. The only difference is that it has lenient requirements, and people with low credit scores can qualify.

Non-Prime mortgage loans typically are made to borrowers who have negative credit as a result of Foreclosure, Bankruptcy, Short Sale, Collections, and Charge-Offs. Borrowers with these circumstances can use alternative documentation to qualify for a Non-Prime loan rather than supplying tax returns, W-2s, or pay stubs. Additionally a borrower seeking a Non-Prime loan can supply bank statements, liquid assets, and other non-typical forms of income to qualify.

Non-Prime loans are associated with higher rates and fees and should only be looked at as a temporary solution to an immediate need.

We realize not everyone has perfect credit and not everyone can document their income, as a result non-prime loan is able to help you get a mortgage whether you are self employed, have a low credit score.