Creative Home Mortgage Solutions


If you are on the market to purchase a new home, you are probably trying to determine what type of loan program would be perfect for your needs. Traditional mortgages require that you go through a sometimes complicated process involving paperwork and verifications. The rates are set and you don't have much flexibility as to what your monthly payments will be. But there are some creative home mortgage solutions that you can take advantage if you need an alternative.

Stated Income Stated Asset Loans

Stated income stated asset (SISA) loans are a great creative home mortgage solution for people who do not have regular employment or are self-employed. You must have really good credit to be approved for one of these programs.

No Doc Mortgages

When you are approved for a no doc (documentation) loan you do not have to provide any documentation (employment income, bank statements, assets). Your application is evaluated on your credit score and the appraised value of the property.

Interest Only Mortgages

Interest only mortgage loans were established to help new homeowners by allowing them to make payments on the interest only over the first few years of the loan (sometimes as long as 10 years or more) to save money on monthly bills.


Adjustable rate mortgages allow you to pay a low fixed interest rate over the first three or five years (sometimes seven) of the mortgage. Thereafter you will pay a variable rate that depends on variables in the financial market.


Many creative mortgage solutions require a higher interest rate than you would pay if you went with a traditional home mortgage.

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