MBA Financial Group has several lenders that can help clients who can not qualify under conventional financing. The three main reasons why people need to use non-conforming loan programs are: Debt Ratios are higher than allowed under conventional loans, the Property itself may be non-conforming and Credit issues. Below is a more detailed explanation.

• DEBT RATIO - The Federal Government better known as Fannie Mae and Freddie Mac impose rules and regulations upon all borrowers. Their guidelines say it is a good idea not to exceed 33% of your gross income on a mortgage payment (including Taxes, Hazard Insurance, Mortgage Insurance and Home Owners Association Dues) and 38% of your gross income on all debts. MBA Financial Group has lenders that will allow a 55% debt ratio enabling us to obtain a loan for you.

• PROPERTY - At times the property will not meet conforming guide lines. The property may be on large acreage in an area that does not have similar properties. Perhaps the property is a log cabin or single wide mobile home. You may have a property that is located in an all business area yet it is a residence. MBA Financial Group has lenders that will consider properties that are non-conforming.

• CREDIT ISSUES - Not everyone has perfect credit. You may have been turned down by another lender. Have you been late on your mortgage payments? Late on your credit cards? Had to file bankruptcy? MBA Financial Group can still help you get a loan. We have several sources to turn to when you need a loan. This includes private money lenders.