When a borrower meets a private lender's qualifications, the brokerage may approve the terms and distribute the funds. Most non conforming home loans require considerable collateral or equity in the building being purchased. There is less personal documentation needed to qualify for these contracts. Some require no income verification and no down payments. Typically, investment properties and second homes qualify for non conforming home loan status. In addition to higher amounts, they are also offered to foreign nationals who would not otherwise qualify for a conventional contract in the United States.