Refinancing or Purchasing Equity Is the Key
Can I get a mortgage with Bad Credit?
If you’re a homeowner or looking to purchase a home with bad credit, home equity is the key. Banks are not interested in mortgaging anyone with bad credit, but you still can be approved through B-lenders or Private mortgage lenders.
How much equity do I need to qualify for a mortgage?
Depending on your location and property type you can qualify for a mortgage with as little as 25%* down. This means homeowners can borrow up to 75% of their homes value with a mortgage lender. Keep in mind the more home equity you have the better rates and terms you will qualify for.
Refinance Mortgage with Bad Credit
Refinancing your home or doing a 2nd mortgage to consolidate debts can significantly improve your credit score. In the long-term this can improve your credit and help to assist in obtaining bank rate financing in as little as one year.
What are the costs associated with Bad Credit Mortgage Financing?
When looking for a mortgage outside of banks traditional guidelines you will be expected for pay additional costs. Some of the cost include appraisal fees, legal fees, in some cases lender fees, and broker fees. Once you obtain home ownership we can help guide you to improving your credit score which in turn can help you refinance back with a bank in as little as 1 year.