Understanding Nonconforming Mortgages and Their Risks

The Week explores the definition of nonconforming mortgages. It explains how these loans differ from conforming mortgages. The article outlines the typical characteristics of nonconforming loans. It discusses the potential risks borrowers may face. It highlights how lenders assess these mortgages. The piece notes possible impacts on interest rates and terms. It advises readers to consider the implications before borrowing. The article concludes with guidance on evaluating loan options.