Buying a home with bad credit means you’re going to have a more challenging time getting approved for a mortgage loan. Check out these 6 Must-Know Facts that will guide you through the types of mortgage loans available for bad credit borrowers.
NACA makes homeownership possible for people with credit problems. No downpayment is required plus you get an “A” credit loan interest rate.
FICO generates the most widely used credit scores. These credit scores are based on credit reports from three major credit reporting agencies: TransUnion, Equifax and Experian. The bank or mortgage company will check your credit reports and scores and so should you. Mortgage lenders are looking for credit scores that are at least 620 or above….
Purchase a home with the help of an FHA Loan, they are generally easier to obtain because FHA can help a consumer qualify with credit scores as low as 500.
Own fixer-up rental property with bad credit using the FHA 203K Renovations Mortgage Loan. It’s easy to qualify with a required credit score of 580 and 3.5% down payment.
Fannie Mae’s HomeReady program will allow low to moderate income borrowers include income from extended family members, parents, and even boarders.
Mortgage rates remain at the lowest since the 1950s. Don’t let the opportunity to buy a home pass you. Use these 13 Tips to get approved for a bad credit mortgage loan
You can become a homeowner with a 500 credit score home loan by working with an FHA Lender. The Federal Housing Administration (FHA) is the largest insurer of mortgages on single family and multifamily homes. FHA can get people approved for a 500 credit score home loan because they provide mortgage insurance on home loans made…
VA mortgage loan benefits help make home ownership possible for veterans who might otherwise miss out. VA loans do not require a down payment
Homeowners with FHA-insured loans may be able to avoid foreclosure by making a “partial claim” to get their loan out of default.