A guaranteed personal loan is for those borrowers who have difficulty
receiving traditional loan products from banks and other lending institutions, or just do not have the time to wait for approval.
While others participated in investor - owned markets or were exposed to exotic mortgages such as option - ARMs and interest - only loans, and while some tolerated lax underwriting standards, FHA stuck to the basics during the housing boom: 30 - year, fixed
rate traditional loan products with standard underwriting requirements.
Lenders, for their part, have universally shifted to
traditional loan products and underwriting standards.
Traditional loan products are the loan types that have been used the longest and are generally the most stable types of loans available.
Traditional loan products are not flexible enough to meet your needs.