BAD
CREDIT HOME LOANS
Bad
credit home loans
All loans are strictly
fico driven. If you are purchasing or refinancing a home following table
is a guideline for subprime conventional loans. All loans are fully documented
income loans. Stated income requires higher scores and a minimum score
of 640 is needed.
| Credit
scores | Loan
to values | Down
payment required |
| 620
+ |
100%
loan to value | 100%
financing | | 560-580 | 90-95%
loan to value | 5-10%
down payment | | 550-560 | 85-90%
loan to value | 10-15%
down payment | | 535-550 | 80-85%
loan to value | 15-20%
down payment | | 500-535 | 80%
loan to value | 20%
down payment | Down
payment means having cash in hand or available in near future.If you don't have
the down payment, you can still get a gift,have the seller carry a note as a second
mortgage, or improve your credit scores.
- For example if
you have a 600 middle fico score, and have $2000 in the bank than the
transcation will not work, unless you do the above to change your situation.
- Recent
bankruptcy in the last 12 months is OK.
- A
minimum of 500 middle score is needed for all borrowers.
We can pre-qualify
you with a basic loan application and a mortgage credit report which costs
$10 for all three bureaus, and we look at all three scores if you had
any credit problems. A mortgage credit report, is not the same as a consumer
credit, report available to you.
Reasons
to use our bad credit home loans programs: - We
staunchly advocate our clients, dedicated to giving you the best service you deserve
with dignity.
-
Our loans are geared toward people with bad credit histories and who cannot qualify
elsewhere.
-
We can fund our own loans, and have relationships with dozens of other unique
lending sources giving you more flexibility and real time solutions.
- We
don't penalize you for past credit performance. Our loan team focuses on
future financial needs and improvement.
- We
are an independent entity, so we are able to make decisions about your loan directly.
This streamlines your loan process and ensures a better outcome for loan approval.
To
find out how easy it is to get your bad credit home loan approved complete our
Quick Loan Application.
It takes minutes, and finds you a solution your are looking for. Apply
Now
Loan
Application
| 
