Consider a Portfolio Mortgage Lender

​Ready to buy a home but not sure if you fit the mold for a traditional (or “conventional") mortgage? You might be a good candidate for a more customized option — a locally-available portfolio loan!

What Are Portfolio Mortgage Loans?

Most mortgage lenders sell the loans they make on the secondary mortgage market to Government-Sponsored Enterprises (such as Fannie Mae, Ginnie Mae or Freddie Mac) as well as other private investors. When a mortgage lender sells a conventional “conforming" loan to these organizations, it must follow their underwriting guidelines.

On the flip side, a portfolio lender acts as its own investor, funding borrowers' loans with its own money. Then, instead of selling the loan, the portfolio lender keeps it in their own portfolio (or “on the books"). This allows portfolio lenders to create their own guidelines.

What Are the Benefits of Portfolio Mortgage Loans?

Because portfolio lenders have the flexibility to set more relaxed standards than those required for conventional mortgage loans, borrowers may benefit from:

• Faster, easier access to financing
• Flexible repayment terms
• Potentially larger mortgage loan amount options

Portfolio lenders are often local, community-focused financial institutions (like Wright-Patt Credit Union®), which means they can offer exceptional personal service and customized solutions.

When Should You Work with a Portfolio Lender?

Everyone's situation is unique, and certain financial or life circumstances can make it difficult for some borrowers to secure a conventional mortgage loan.

If your finances are out of the ordinary in any way, looking at the options a portfolio lender has to offer may be a good solution for you!

Here are a few situations when working with a portfolio lender can make sense:

• You have a less-than-perfect credit history
• Your income changes month-to-month (self-employed, side-hustle or freelance workers) 
• You're looking to buy a second home or vacation property
• You want to buy a home that needs repairs or renovations 

At Wright-Patt Credit Union, we believe everyone should have a chance at the dream of homeownership. A portfolio mortgage loan is just one way we help our members build hope to make that dream possible!

Get Help Finding the Right Mortgage Loan for You!

Finding the right mortgage for you is easier with a caring financial partner by your side. At WPCU®, our mortgage experts take a personalized approach, working hard to match borrowers with the right home loan for their specific circumstances.

Together, we'll review your overall financial picture and help you understand all your options, whether that's a locally-available portfolio loan or another type of mortgage loan.

To get started, simply connect with us at WPCU.coop/MortgageHelp, call (937) 912-7000 or visit your nearest WPCU Member Center.​​