Specialty Loans: Tailored Financing for Unique Situations

Loan Program Summary & Highlights

Specialty loans are designed to meet the needs of borrowers who require customized financing solutions that go beyond traditional mortgage options. These loans cater to unique circumstances, such as self-employment, non-traditional income sources, or niche property types. Whether you're looking to renovate, invest, or refinance, specialty loans offer the flexibility and innovation you need to achieve your financial goals.

• Flexible eligibility criteria: Designed to accommodate unique financial situations.
• Customizable terms: Tailored loan options to meet specific borrower needs.
• Diverse loan types: Includes renovation loans, construction loans, non-QM loans, and more.
• Supports various property types: Ideal for niche properties such as multi-family homes, vacation rentals, or commercial spaces.
• Creative financing solutions: Perfect for self-employed borrowers or those with non-traditional income.

What is a Specialty Loan?

Specialty loans are non-conventional mortgage products that address unique financial needs or property types. These loans provide innovative solutions for borrowers who may not meet the requirements for traditional loans or who are seeking financing for specialized purposes.

From renovation and construction loans to non-QM (non-qualified mortgage) options, specialty loans are tailored to give borrowers the flexibility they need to finance their specific goals. Whether you're building your dream home, investing in real estate, or looking for creative ways to use your income, a specialty loan can help you achieve success.

General Specialty Loan Guidelines

• Eligibility: Varies based on the loan type and borrower circumstances.
• Credit requirements: Flexible options for borrowers with diverse credit profiles.
• Loan amounts: Tailored to fit the scope of the project or purchase.
• Property types: Can include residential, commercial, investment, or niche properties.
• Income verification: Designed to accommodate self-employed borrowers or alternative income sources.

Pros of Specialty Loans

• Customizable solutions: Tailored financing options to meet unique borrower needs.
• Supports diverse property types: Great for multi-family units, vacation rentals, or investment properties.
• Flexible eligibility criteria: Accommodates non-traditional income or financial situations.
• Innovative loan products: Includes options like renovation, construction, and non-QM loans.
• High loan limits: Suitable for larger projects or high-value properties.

Cons of Specialty Loans

• Higher interest rates: May have higher rates compared to traditional loans.
• Stricter documentation requirements: Some loans may require detailed project plans or income verification.
• Complex underwriting: Customized loans may involve longer processing times.
• Availability varies: Not all lenders offer specialty loan products.
• Higher fees: Some specialty loans come with additional costs or higher closing fees.

Best Candidates for Specialty Loans

• Self-employed borrowers: Ideal for those with non-traditional income sources.
• Real estate investors: Perfect for financing multi-family units, rental properties, or commercial spaces.
• Buyers of niche properties: Great for unique property types that may not qualify for conventional loans.
• Renovation or construction projects: Designed for borrowers building or improving properties.
• Borrowers with unique financial needs: Offers creative solutions for those outside traditional qualification standards.

At One Mortgage Company, we understand that one size doesn’t fit all when it comes to financing. Our team specializes in finding the right specialty loan solution for your unique needs. Contact us today to learn more about how a specialty loan can help you achieve your goals.