[SS Gen] Other Loan Products II
While today’s market is largely populated by “traditional” loan products and qualified mortgages, loan originators are permitted to make other types of loans that fit the needs of borrowers who need less-conventional loan features. While not as popular, these loan products have their advantages – particularly to consumers who have a short or troubled credit history, irregular or seasonal income, or otherwise do not fit the mold of the everyday loan applicant. These loans still have their place in today’s market, and an awareness of such products and their features is valuable information for a mortgage professional.
This course provides an overview of construction loans, bridge loans, interest-only loans, and more.