Affordable bad credit home loans are available, you just need to know where to look.
Are you a Home Buyer or Homeowner sitting on the fence because your credit is not perfect?
Would you like to purchase a home or refinance your current loan at today’s low interest rates, but just need a home loan that allows bad credit?
I know, it is easy to get discouraged, especially if you have already been told that you will not qualify for a home loan because of your credit.
The good news is, you are in luck. We offer home loans for people with bad credit.
That's right, new changes to our programs allow even lower credit scores (down to 500 credit scores), prior bankruptcies, foreclosures, short sales, collection and charge off accounts.
Home Loans For Bad Credit Scores
No, not really. These home loans allow for a smaller down payment or equity in the property, even with bad credit scores.
These home loan programs are available to help you purchase a home or refinance your current loan to get a better rate, lower your monthly payment or take cash out.
In 2016 the national average Experian credit score was 673, according to Credit.com. You can have a credit score well below the national average, even credit that would be considered bad credit and still get approved for a home loan using one of our programs..
Which Lenders Offer Home Loans with Bad Credit
So, what's the catch, where do you get a home loan with bad credit?
The big banks don’t like these home loans. Most big banks have minimum credit scores of 720, so anything under this is considered average or bad credit to them.
Their credit requirements or home loan qualifying guidelines are very strict so it appears to the regulators and shareholders that they are lending only to those who represent a very low credit risk.
And since the mortgage crisis a few years ago, most banks are unwilling to make exceptions to their strict credit guidelines, even for long-time loyal customers who have been with them for many years.
But, there are companies, like ours who represent some of the largest wholesale mortgage banks in the nation that love these home loans, even specialize in them.
Your credit is not the only qualifying factor that lenders consider when reviewing a home loan application, but is the one where most people need the most flexibility to get approved.
How to Get a Home Loan With Bad Credit
Let’s do the math. You don’t need excellent credit, or even good credit, a big down payment or large amount of equity to qualify.
You just need to go where affordable home loans for people with bad credit are offered and work with the right loan professionals who know how to get you approved.
Our home loan programs are also more flexible when it comes to the other qualifying factors, not just credit.
And, best of all we can help you improve your credit along the way. With over 25 years of experience working with credit and home loans, we understand what you need.
We also provide you with a free credit improvement tool that will detail the exact changes needed to improve your scores quickly, in a matter of days in some cases.
It only takes a few minutes to determine how much you qualify for and what your monthly payments will be.
So what are you waiting for?
Are you ready to see what our home loans for people with bad credit can do for you?
Call 800-607-1941 x220.
Posted by: Brian Bush
Brian and his team have been funding bad credit home loans for over 25 years.
Since 1991, they have funded over 2,000 loans
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