Non-Conventional Loans

Almost all lenders lend using very traditional loans (Fannie Mae or Freddie Mac conventional loans, FHA Loans, VA loans, etc. A non-conventional (or portfolio loan) is a loan that does NOT "conform" and is held by a bank internally. Jumbos loans are the most common portfolio loan; however, 1-4 unit properties that are being purchased for investment purposes rather than as primary, owner-occupied residences are often portfolio loans too. Traditionally, these mortgages required at least 20% down payment - but call for specifics on your individual situation.