eChoice Home Loans

Had credit problems in the past? Don’t fit lenders’ traditional criteria? Don’t despair. With today’s wide range of home loans and lenders, even people considered ‘credit impaired’ can now apply for a home loan.

These loans, known as non-conforming home loans, are specifically designed to suit people who are:

• self employed
• no longer working full-time and/or retirees
• credit-impaired
• contractors
• seasonal workers

How they work

Non-conforming home loans work like most other loans. Borrowers can choose from a range of loan types including variable, fixed and split rate loans and popular features such as line of credit, redraw and offset.

Because credit impaired and non-conforming borrowers are regarded as higher risk, most lenders charge a slightly higher interest rate and/or a higher fee structure than for traditional loans. Non-conforming loans can also be less flexible (particularly when it comes to refinancing).

Learn more about how eChoice can help get you a loan when you’ve had credit problems.