Bad Credit? First Time Buyer? You Can Still Get Approved For A Home Mortgage LoanWritten by Carrie Reeder
Do you have bad credit that you worry will stop you from being able to apply for a home mortgage loan? Have you given up on dream of being a home owner? Well don’t. Take comfort in fact that there are special home mortgage loans that you can apply for, that will make sure your dreams of becoming a home owner are fulfilled!
Home Loans Are Flexible - The first thing you need to keep-in-mind is that home loan mortgages are very flexible – they can be adjusted to meet needs of any borrower. So, if you have a bad credit history, but circumstances have changed in your life and now you are looking to become a home owner then all you need to do is to find a lender who is willing to lend.
First Look at Companies That Specialize in Bad Credit Mortgages - Bad credit mortgage lenders or otherwise called, subprime lenders, are always best place to look first. Bad credit mortgage companies specialize in lending to people with less than perfect credit to very bad credit, even if they are first-time buyers. The may charge you extra over life of home loan mortgage than would have otherwise been case had you not had bad credit history, but that’s why they’re in business!
Bankruptcy And Buying A HomeWritten by Carrie Reeder
Filing bankruptcy is a stressful time in a person's life. Along with discharging your debts and gaining a fresh start, you may wonder if you will be able to buy a home after a bankruptcy. The answer is yes! Mortgage companies and online lenders are now offering home loans for those who have a bankruptcy on their credit report. Some lenders will even approve your loan as soon as one day after your bankruptcy has been discharged.
Buying a home after bankruptcy is no longer impossible. There are many reasons a person chooses to file bankruptcy. The loss of a job, unexpected medical bills, and overwhelming credit card debt are just a few of factors that can lead to filing bankruptcy. The mortgage lending industry has created special loan packages and terms for those who have filed bankruptcy in past. Lenders have little to lose in approving a home loan after bankruptcy. With your home serving as collateral for loan, lender can feel confident in approving you for a home loan, often soon after your bankruptcy has been discharged.
Filing bankruptcy and buying a home are no longer mutually exclusive terms. Both traditional and online