Bad Credit Home Loan - Apply Online and Keep Your Credit Score as High as PossibleWritten by Carrie Reeder
If you have a poor or bad credit history with something in your past like a bankruptcy or a foreclosure, you know how difficult it can be when you try to get financing for a home mortgage purchase, refinance, home equity or second mortgage loan. Its important to be persistant in looking because there are home mortgage loans out there for people with bad credit.There are many articles online that will tell you to be wary of subprime lenders, those lenders who specialize in doing hard to approve loans. There are many things to be careful of with subprime lenders, who can charge interest rates that are far too high and have unreasonable pre-payment penalties. However, if you shop around and talk to many different mortgage brokers, you should be able to find a lender that can get you approved and with an interest rate and terms that are fair. The best way to make sure you are getting lowest interest rate and terms possible, if you are looking to get approved for a mortgage loan after a bankruptcy or foreclosure, is to apply with as many different lenders as you can. You will want to compare as many mortgage loan quotes as possible to make sure you are choosing best one. When you have a low credit score and are applying with sub prime lenders, main thing you need to be careful of is to make sure that your credit report is not pulled until you have pretty much decided which lender you are going to want to work with. Every time your credit is pulled by a mortgage lender, your credit score will drop just a tiny bit. That is why you need to be careful. Sometimes even as little as a 5 point drop in your credit score can be difference between getting approved or turned down for a mortgage loan. Most mortgage lenders, especially those that specialize in hard-to-approve home loans need a credit score of 585 – 600 or higher in order to do 100% financing with no money down on your home loan. The bottom line is, you will need that score to be as high as possible.
| | Bad Credit Personal Loan - A Pay Day Loan May Be Your Best Option, No Credit CheckWritten by Carrie Reeder
If you have bad credit, have an emergency and need some fast cash, an instant pay day loan online could be a quick solution for you. With online pay day loans, lender does not pull your credit, so it doesn’t matter how poor your credit history is. Adverse credit will not hold you back from getting an instant cash loan. Pay day loan lenders will just need to verify your income with pay check stubs. They will also usually want to see bank statements to make sure you have an active checking account. The pay day loan or cash advance lender may want to verify some of your other information. Each online pay day loan company is different.Pay day loan or cash advance loan companies will not pull your credit. There is no credit check because they base loan off of fact that you have employment verification. The money to be paid back will be automatically withdrawn from your checking account, usually right after your next pay day. You can tell pay day loan company what day you would like money to be withdrawn from your checking account. Usually you can borrow cash for 2-3 weeks. The amounts you can borrow vary from company to company. Most of time, you can borrow $300-$1000 depending on company.
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