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.
VA mortgage loan benefits help make home ownership possible for veterans who might otherwise miss out. VA loans do not require a down payment
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.
Homeowners with FHA-insured loans may be able to avoid foreclosure by making a “partial claim” to get their loan out of default.
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.
NACA makes homeownership possible for people with credit problems. No downpayment is required plus you get an “A” credit loan interest rate.
Foreclosure can be a traumatic event and unfortunately, too many Wells Fargo borrowers have experienced foreclosure. But foreclosure can be an opportunity for a fresh start and here is how to rebuild credit after foreclosure.
Rapid Rescore is a service used by lenders and mortgage brokers to update or increase credit scores in as little as 72 hours! Credit report errors can be quickly corrected, balances can be updated quickly and new scores generated in order to qualify for a 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…