Author Archives: Brian Bush

How To Get A Mortgage With Bad Credit

New Bad Credit Mortgage Programs

Approved StampAre you a Home Buyer or Homeowner sitting on the fence because of credit issues and low credit scores?

Would you like to purchase a home or refinance your current loan at today’s low interest rates?

The good news is that you are in luck because things have changed. We have bad credit mortgage programs.

That’s right, our new mortgage programs allow bad credit.

With lower credit score requirements (down to 500 credit scores) and shorter waiting periods since things like, bankruptcy, foreclosure and short sales, we are obtaining more and more loan approvals.

I am sure you are thinking that you must need a large down payment or a lot of equity to qualify with bad credit, right?

Wrong. These programs allow for a less than 5% down payment or equity in the property even for credit scores well below 600 (even down to 500)!

According to Yahoo Finance, in 2017 the national average credit score was 687. So, you can have a score well below the national average and still get approved for a mortgage with these new programs.

Credit Score

So, what’s the catch?

Well, the big banks don’t like these loans. Most big banks have minimum credit scores of 680-720. They set their credit standards high so it appears to the regulators and shareholders that they are lending only to those who represent a very low credit risk.

But, there are companies, like ours who represent some of the largest wholesale mortgage banks in the nation that love these loans, even specialize in them.

Let’s do the math. You don’t need excellent credit, a big down payment or large amount of equity to qualify.

So what are you waiting for?

Are you ready to see what these new bad credit mortgage programs can do for you?

Call 800-607-1941 x220.

B BushPosted by: Brian Bush

Brian and his team have been funding Home Loans for over 26 years.
Since 1991, they have funded over 2,000 loans

You can reach Brian at 800-607-1941 x220 or bbush@slglends.com

Mortgage Programs That Allow A First Time Home Buyer With Bad Credit

Mortgage Programs That Allow A First Time Home Buyer With Bad Credit

Are you looking to make your first home purchase, but worried that your credit may stop you?   Well, you are not alone. You are not the only first time home buyer with bad credit. Most new homeowners using our loan programs have had some credit issues. Reduced credit requirements (lower credit scores allowed, smallerContinue Reading

How To Get A Home Mortgage After A Bankruptcy

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Are you looking for a new mortgage but concerned about a recent bankruptcy? Well, the good news is, that a recent bankruptcy’s impact on your credit will diminish over time…but you probably already knew that. When will you be able to get back into the home mortgage market? Sooner than you think…newer home loan guidelinesContinue Reading

Why Every Purchase Offer Should Include A DU Mortgage Pre Approval

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Getting A Mortgage Pre Approval Are purchase offers still submitted with a Pre-Qualification letter and not an actual Mortgage Pre Approval? I hope not. There is no good reason for a buyer or buyer’s agent not to submit a Pre-Approval, at least a copy of a Fannie Mae Desktop Underwriter (DU) approval. You probably see DU approvals, butContinue Reading

3 New Changes Make It Easier To Get A Home Loan

3 New Changes Make It Easier To Get A Home Loan

Recently, the credit market for mortgage loans has seen some dramatic changes for the better. After years of extremely tight lending guidelines and risk avoidance by major banks, there are new loan programs that allow more flexibility. This means more loan approvals for today’s home buyers and current homeowners seeking to refinance. The new changesContinue Reading

First Time Home Buyer Down Payment Assistance

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Looking for a First Time Home Buyer Down Payment Assistance Program?  The good news is that our First Time Home Buyer Program allows you to put zero down. That's right, 100% financing for the purchase of your new home. And, this program has zero lender fees. We can also provide additional home buyer credits, jusk ask and we will give youContinue Reading

New Commercial Mortgage Programs Offer Easier Qualification

New Commercial Mortgage Programs Offer Easier Qualification

With Reduced Documentation When you own commercial property or apartment buildings, you soon learn that big bank financing can be challenging and expensive. Sure, they have decent programs, you just have to understand that they will do everything they can to minimize risk. After all, they are protecting customer deposits and must report to shareholders.Continue Reading

3 Big Improvements To Rental Property Loans

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How These Loans Just Got Better If you are a real estate investor, you probably know that getting the right financing for your rental property can be difficult. Banks and other lenders typically see these as riskier loans so they create tighter guidelines to minimize their risk. If you look at historical loan default andContinue Reading

The 3 Things You Need To Know About The Lowest Mortgage Rates

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Sure mortgage rates are quoted everywhere, but what you don’t know about what is behind the quoted rates could hurt you. By law, the Annual Percentage Rate (APR) must be disclosed and this is a common and simple way of comparing one lender’s mortgage rate quote to another’s. The APR is supposed to factor inContinue Reading

The 5 Qualifying Factors All Mortgage Lenders Consider

The 5 Qualifying Factors All Mortgage Lenders Consider

When qualifying for a home loan, lenders focus on five main areas of the application. Although each lender may have its own preferences, they all have very clear written guidelines as to what they will and will not accept in these areas. The five main qualifying factors are Credit, Income, Employment, Savings History/Reserves and Collateral.Continue Reading