Mortgage Glossary
Portfolio Loan
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A portfolio loan is a mortgage the lender keeps on its own books instead of selling to Fannie Mae or Freddie Mac.
What Portfolio Loan means
Because the lender holds the risk, it can set flexible guidelines on income, property type, or credit. Portfolio loans help borrowers who don't fit agency boxes, often at a modest rate premium.
Florida example
A Florida buyer with a complex income picture or an unusual property uses a portfolio loan from a lender willing to underwrite by hand. The flexibility is the point; the cost is a slightly higher rate.
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