Buying a Home With Bad Credit - Tips on Finding the Right Broker or Lender

Written by Carrie Reeder


Continued from page 1

It is reasonable to expect to pay up to five points for a mortgage loan, but any higher and you should be wary. There are always exceptions to this, so use your best judgment and compare companies.

Get Multiple Offers

Mortgage lenders can vary as much as 5% in their interest rates, so you should compare financing packages. The internet has made comparison shopping easy. You can get bids from multiple lenders and read over their offers fromrepparttar comfort of your home.

Read The Fine Print

Once you get an offer from a mortgage lender, make sure you readrepparttar 146356 fine print. Interest rates are easy to compare, but you should also look overrepparttar 146357 fees that are involved which can add up to thousands of dollars. Also, be sure to understand any fees for late or missed payments.

To view our list of recommended bad credit or sub prime mortgage lenders online, visit this page: Recommended Sub prime Mortgage Lenders Online.

Carrie Reeder is the owner of ABC Loan Guide, an informational website with articles and the latest news about various types of loans.


Sub-Prime Mortgage Loans - Things You Should Know About Sub-Prime Mortgages

Written by Carrie Reeder


Continued from page 1

Fees and terms can be better duringrepparttar off-season of fall and winter for borrowers. When there is more competition for fewer loans, mortgage lenders will lower their fees. If you do secure a mortgage duringrepparttar 146355 spring or summer, double-check fees to make sure they are not inflated.

Down Payments Wanted

A down payment is often necessary for a person with a bad credit record. The larger your down payment,repparttar 146356 easier it is for you to secure a loan. You can also avoid PMI by putting down at least 20% ofrepparttar 146357 home’s value.

Fees Add Up

Interest rates are an easy way to look at a loan, but you should also considerrepparttar 146358 fees involved in a sub-prime mortgage. Some fees are to be expected to processrepparttar 146359 loan, but others can be excessive. When you get a mortgage offer, be sure to add uprepparttar 146360 fees from each financing package and compare those withrepparttar 146361 interest rates.

To view our list of recommended bad credit or subprime mortgage lenders online, visit this page: Recommended Subprime Mortgage Lenders Online.

Carrie Reeder is the owner of ABC Loan Guide, an informational website with articles and the latest news about various types of loans.


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