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Non-Prime Program

A Non-Prime loan is used when a client can't meet conforming or government lending guidelines for traditional financing.  This type of loan is therefore naturally higher in rate because of the added risk to lend.  No pre-payment penalties on primary and vacation homes make it possible to refinance, sell the property or pay off the loan any time.  A Non-Prime loan is thought of as a "band-aid" type loan to help you move forward with achieving your financial goals in two or three steps.  Step 1 - obtain the Non-Prime loan with an above market rate which could be 2% to 6% higher than traditional financing.  The interest may be tax deductible for those who take more than the standard deductions when filing taxes.  Step 2 - work on fixing the issue that prevented you from obtaining traditional financing.  Step 3 - refinance into traditional financing after the issues have had time to heal. 

1st Rate Mortgage Services, LLC NMLS #216585
327 Dahlonega St., Suite 104 B, Cumming, GA  30040
Office:  (770) 334-8451 Ext. 101
info@1stRateMtg.com
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A Georgia Residential Mortgage Licensee #32549
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