Equity Home Loans

Getting Bad Credit Home Loans?

Whats the best options for getting a home loan if your credit isn't so good?

Public Comments

1. Do NOT go with mortgage brokers. All they do is rip you off and several are now being sued in the US. If you can't get a loan through your bank, ask them why and what you should do to qualify.
2. You probably don't want to hear this, but the best option is to clean up your credit first and seek a mortgage loan after that. Obtaining a mortgage loan with shaky credit is a sure-fire way to find yourself in foreclosure faster than the ink dries on your closing docs. Pay off or settle all charge-offs, collections, judgments and liens. If you have declared bankruptcy, make sure you wait two years (after the discharge date) before you start looking for a home loan. If you have a lot of middle debt, pay that down until you are borrowing less than 40% of your total limits. After you do all of that, save up as much as you can for a down payment. If your credit is questionable, a nice amount of money down might get you in the ballpark of a better interest rate. Good luck to you!
3. Your best bet is to repair your credit first. You can do it yourself and it is not hard. Last year I had bad credit and looked into getting it compared. I found out there were a lot of companies out their trying to scam people. During my search I found a website (your-credit-solution dot com) that provided me with a solution to improve my credit score by 200 points in less than 90 days.
4. You can try a variable credit lending company. There's a bunch listed here http://badcreditpersonalloans.best-loans.ws/mortgage_refinance.html Compare rates and terms carefully.