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GUARANTEED!
• 1-Day Out Of Bankruptcy
• Judgments, Late Payments,
Collections…. Approved!
• No Down Payment? No
Problem!
Testimonials-
"We didn't think that with our credit history, that we'd be able to get a loan. Bad Credit Mortgage showed us how we could still purchase the home of our dreams with No Money Down! "
- Robert and Joanne Becket, Greenville, MI
What can I do if I have bad credit but I want to obtain a home loan?
If you have bad credit, it generally cannot be avoided on your credit report. As a general rule, a bad credit report usually stays upon your record for a period of 7 years
How does bad credit affect your mortgage?
Your credit score plays an important role in the loan application process. If the lender isn't satisfied with your credit history, you may have to make a bigger down payment or accept a higher interest rate.
How can I find out information about my credit history?
There are three major credit reporting companies: Equifax, Experian, and Trans Union. Obtaining your credit report is as easy as calling and requesting one. Once you receive the report, verify its accuracy.
How does the lender decide the maximum loan amount that can afford?
The lender considers your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support.
Are there special mortgages for first-time home buyers?
Yes. Several affordable mortgage options are available which can help first-time home buyers overcome bad credit that made purchasing a home difficult in the past.
The information provided on bad credit mortgage, Inc. is not intended to be official legal, real estate, or
financial advice but merely conveys general information. Sitemap
