Your real estate agent should be able to help you find one. One thing to consider however is that with a bad credit rating, you are likely to end up with a higher rate of interest. Over the lifetime of a home loan, that amounts to a large sum of money. Might be better to get credit rating up and then look into mortgages. Also, try to make sure you have a fixed rate mortgage. The variable rates look good at first but if the interest rate goes up and you can’t meet the increased mortgage payment you can lose your home and do more damage to you credit rating. Also, realize, property taxes are subject to change (increase) which can increase your mortgage payment as well. I have seen folks have to give up their homes just because their property taxes increased their monthly mortgage payments and they just didn’t have the extra. Allow yourself plenty of “wriggle room”.
I have a list of some good websites offering Mortage Loans with low Interest rate and fast approval. Its a policy voilation of yahoo if i post any link here.
Just mail me at solidoffer11@yahoo.com with subjet- Mortage Loans. I will send a link of best website where you can find best Loan offers,tips and resources.
Bad credit is one of the worst problems to have… however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is a straight to the point ebook with question and answer I found :
There are plenty of lenders that can help you. You do need to understand that your rate will be much higher than if you had good credit. Have you looked at your credit report, sometimes your credit isn’t as bad as you think. If you need help my company does do bad credit mortgages. Send me an e-mail and I would be glad to help you out. Good Luck!
NACA (neighborhood assistance corporation of america) naca.com they helped me and they can help you my score was 592 now it is in the 700’s. WAHOO!!!….. good luck!!
Yes I do know a lender, but would need to know a little more about your situation in order to lead you in the right direction. Also your credit might not be as bad as you think to get a mortgage. You would be surprised.
Make repairing your credit your first priority. Even if you get qualified for a loan, and in today’s market, your chances are getting slimmer by the day, your rate and terms may not be user friendly. If you commit to 12 months of rehabing your credit, you will be in a much better position to negotiate your rate and terms with a lender. Just look around at all of the people going into foreclosure today nationwide. They all went into high risk loans, and they are all loosing their homes. This is one of the biggest choices you will make in your lifetime, for the biggest investment. Do it right the firat time, and leave no room for mistakes. What you do now will have a tremendous impact on your financial future. If you are interested in getting Reputible information on credit rehab, email me at thenderson@acgmoney.com, and I can help. Credit Counseling Companies are not the way to go either as lenders see that as a liability, not a positive.
9 Responses to Does anyone know a lender that will approve a mortgage for very bad credit?
w i
May 4th, 2010 at 10:20 am
Your real estate agent should be able to help you find one. One thing to consider however is that with a bad credit rating, you are likely to end up with a higher rate of interest. Over the lifetime of a home loan, that amounts to a large sum of money. Might be better to get credit rating up and then look into mortgages. Also, try to make sure you have a fixed rate mortgage. The variable rates look good at first but if the interest rate goes up and you can’t meet the increased mortgage payment you can lose your home and do more damage to you credit rating. Also, realize, property taxes are subject to change (increase) which can increase your mortgage payment as well. I have seen folks have to give up their homes just because their property taxes increased their monthly mortgage payments and they just didn’t have the extra. Allow yourself plenty of “wriggle room”.
James
May 4th, 2010 at 11:07 am
I have a list of some good websites offering Mortage Loans with low Interest rate and fast approval. Its a policy voilation of yahoo if i post any link here.
Just mail me at solidoffer11@yahoo.com with subjet- Mortage Loans. I will send a link of best website where you can find best Loan offers,tips and resources.
best wishes
gabriel jones
May 4th, 2010 at 11:58 am
Bad credit is one of the worst problems to have… however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is a straight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-consolidation.htm
if it helps kindly remember me in your voting!.. cheers!
HOLLY C
May 4th, 2010 at 12:49 pm
I would try a company called naca. they might be able to help you. http://www.naca.com
Amber J
May 4th, 2010 at 12:57 pm
There are plenty of lenders that can help you. You do need to understand that your rate will be much higher than if you had good credit. Have you looked at your credit report, sometimes your credit isn’t as bad as you think. If you need help my company does do bad credit mortgages. Send me an e-mail and I would be glad to help you out. Good Luck!
Callie_Peach
May 4th, 2010 at 1:32 pm
NACA (neighborhood assistance corporation of america) naca.com they helped me and they can help you my score was 592 now it is in the 700’s. WAHOO!!!….. good luck!!
benbardot
May 4th, 2010 at 2:25 pm
Visit http://www.cheap-credit-cards.org/loans for more information.
Mortgage Dog
May 4th, 2010 at 3:18 pm
Yes I do know a lender, but would need to know a little more about your situation in order to lead you in the right direction. Also your credit might not be as bad as you think to get a mortgage. You would be surprised.
novastarbanker
May 4th, 2010 at 4:10 pm
Make repairing your credit your first priority. Even if you get qualified for a loan, and in today’s market, your chances are getting slimmer by the day, your rate and terms may not be user friendly. If you commit to 12 months of rehabing your credit, you will be in a much better position to negotiate your rate and terms with a lender. Just look around at all of the people going into foreclosure today nationwide. They all went into high risk loans, and they are all loosing their homes. This is one of the biggest choices you will make in your lifetime, for the biggest investment. Do it right the firat time, and leave no room for mistakes. What you do now will have a tremendous impact on your financial future. If you are interested in getting Reputible information on credit rehab, email me at thenderson@acgmoney.com, and I can help. Credit Counseling Companies are not the way to go either as lenders see that as a liability, not a positive.