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Non Recourse Loans

A Non Recourse Loan, or non-recourse debt is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable. If the borrower defaults, the lender/issuer can seize the collateral, but the lender’s recovery is limited to the collateral. If the property is insufficient to cover the outstanding loan balance (for example, if real estate prices have dropped), the lender is simply out the difference. Thus, non-recourse debt is typically limited to 80% or 90% loan-to-value ratios, so that the property itself provides “overcollateralization” of the loan.

A lender of non-recourse debt depends crucially on an accurate assessment of the credit of the borrower, and a sound knowledge of the underlying technical domain as well as financial modeling skills.


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FAQ

All the answers to your questions.

  • Why is Re Funding Source so popular?

    As Mortgage Brokers, we have built our reputation on providing our clients with exceptional customer service, reliable information, and seamless transactions. Our focus is always on the needs of our clients, which is why we take the time to understand your unique situation and help you choose the mortgage product that is right for you. 


    We understand that every client's financial situation is different, and that is why we offer a variety of mortgage options to suit your needs.


    At Re Funding Source, we pride ourselves on our professionalism and expertise. Our Mortgage Brokers have years of experience in the industry and stay up-to-date on the latest trends and regulations in the mortgage market. 


    We are committed to providing you with the best possible mortgage solutions and we work tirelessly to ensure that your homebuying or refinancing experience is a success. So why trust anyone else with your mortgage needs? Let our team of Mortgage Brokers at Re Funding Source guide you through the process and help you achieve your homeownership dreams.

  • What types of mortgage products do you offer?

    At Re Funding Source, we offer a wide range of mortgage products to suit your unique needs. 


    Our offerings include fixed-rate mortgages, adjustable-rate mortgages, jumbo loans, FHA loans, VA loans, and more. We work with you to find the product that best fits your financial situation and homeownership goals.

  • What sets Re Funding Source apart from other mortgage brokers?

    At Re Funding Source, we pride ourselves on our personalized approach and attention to detail. We prioritize your time and make sure that every detail is taken care of, so you don't have to worry about any delays during your closing. 


    Our Mortgage Brokers have years of experience in the industry and stay up-to-date on the latest trends and regulations in the mortgage market. We are committed to providing you with the best possible mortgage solutions and we work tirelessly to ensure that your homebuying or refinancing experience is a success.

  • Can I still apply for a mortgage if I have a less-than-perfect credit score?

    Yes! We understand that every client's financial situation is unique.


     We work with clients who have all types of credit scores and financial backgrounds, and we can help you explore all of your mortgage options. 


    Our Mortgage Brokers will work with you to find the best mortgage product that fits your unique needs and financial situation. 


    We believe that homeownership should be accessible to everyone, and we are committed to helping you achieve your homeownership dreams.