What is a Portfolio Mortgage?

Our portfolio home loan is somewhat similar to a conventional loan in that it is not a government-insured mortgage loan. Our portfolio home loan is a simple, fairly quick financing option for eligible homebuyers looking for a loan product that is not insured or guaranteed by the government. These loans typically have more flexibility than a government-insured loan when it comes to loan terms and underwriting requirements.

So why is it called a portfolio mortgage and not a conventional loan? Portfolio means that we do not sell your loan to an investor on the secondary mortgage loan market, and we service your loan for the entire life of the loan. We mean it when we say we’re with you every step of the way.

Non-Conforming vs Conforming Loans

When researching and learning about mortgage options, you may hear the terms conforming and non-conforming conventional loans. Conventional mortgage loans are not insured or guaranteed by the government but are required to meet the requirements of Fannie Mae and Freddie Mac such as loan amount maximums, the specific down payment requirements and possible mortgage insurance while a non-conforming loan does not. Non-conforming loans are much less standardized and usually allow higher loan amounts with eligibility requirements and pricing that vary depending upon the lender. Also depending on the lender, their non-conforming loans may be more accommodating to less-than-perfect credit scores.

The Vanderbilt Mortgage non-conforming portfolio loan program offers interest rates based on your credit history, the amount of down payment, the amount of the loan and whether land is involved or not as well as other factors. We finance home only purchases or finance the home purchase along with the land purchase for where the home is to be placed. If eligibility requirements are met, we can also accept the land value for property that you already own toward down payment requirements. All loan programs are subject to credit approval.

Benefits of a Vanderbilt Non-Conforming Portfolio Loan

Different loan types may have different advantages, and, of course, your specific needs are important when considering applying for and choosing a home mortgage. A non-conforming portfolio loan has several benefits that may fit what you are looking for.

• More financing options based on home or land/home purchases
• Depending on your debt-to-income, flexibility in potential mortgage terms and borrowed amounts
• A broader range of credit scores could be accepted
• Staying with the same lender for the life of the loan

Complete our fast and easy to use online application to find out if a portfolio home loan program is right for you. A licensed Vanderbilt Loan Specialist will contact you to get you started with the home loan process so you can be one step closer to homeownership. Also, our Vanderbilt Home Loan Guide can help make your dream of owning a home reality.

Learn More with Our Home Loan Guide