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What lenders will give a 'close to prime' auto loan rate if one has good credit but their spouse has bad credit?
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∙ 19y ago
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∙ 19y ago
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Who will lend to people having low credit scores?
There are a number of specialty near-prime, sub-prime and "hard money" lenders that will lend to individuals having low credit scores. In most cases, the lender to choose depends specifically on what you are trying to get credit for. There are specialty auto lenders, mortgage lenders, personal loan lenders, etc. Please see the attached links for possible lenders.
What lenders do sub prime mortgages?
Not all lenders give the oppurtunity of sub prime mortgages, but one for example that does is the Infinity Federal Credit Union (IFCU). This is one of the posibilities.
Is it possible to take the co-signer's name off of your account?
YES> IF the lender determines that your credit score meets their requirements for the loan. Is your credit GOOD enough to got the loan without a co-signor? Yes..In most cases prime lenders will remove if you refi or re-qualify with your credit. No...In the case that you're are dealing with a sub prime lender they will remove the co-signer from the title but not the contract. Some lenders prime and sub prime have different rules but the one listed above are usually the general rule of thumb.
Can you get car loan with a 620 credit score?
Scores range from the low 400s to well past 800. The higher the score, the better the credit rating. Most lenders use a break of somewhere around 620 as the determining factor of a regular loan versus what is called a "sub prime" or higher-risk loan. Some lenders will not extend credit to people with under 620 credit scores and other lenders will offer those loans, but at a higher interest rate.
What services does the company Prime Lenders offer its customers?
Prime lenders services include mortgage loans and home financing in the state of Florida. Prime lenders works to finance family home, condos, mobile, manufactured, and 2-4 family properties.
What is conventional uninsured mortgage?
Candidates for conventional, uninsured loans are considered prime borrowers. They have at least a 20 percent down payment, good credit and enough income to make mortgage lenders feel safe. Lenders require insurance on loans when borrowers lack sufficient money or credit to offset the risk of financing a home.
What credit score is good for applying for credit?
In general terms, any score above a 740 score is considered excellent. However, every lender sets their own standards and their own tolerance for risk. At this time many lenders will consider that 650 is the point between what most consider a prime and sub-prime lender. What is considered a good score will be different for different lenders. Auto lenders like to see scores above 700 while a FHA mortgage lender likes to see a score of at least 640 for the best interest rates.
What are people that are unlicensed lenders who charge illegal rates called?
Loan sharks. If they've a license, it's a payday loan, advance check cashing or sub-prime credit card company.
Will it help your credit if your mom co-signs for you on a car loan after filing for bankruptcy?
depends on who the lender is and how you pay it off. with most lenders(sub prime) you can get the loan anyway if you pay more down.
What is the difference between a c loan and a b loan?
The credit rating of borrowers is sometimes defined through a letter grade of A to C (beyond C will not have credit available to them), where: A: Prime borrower - OK and better credit history - qualifies for reasonable rates B: OK Subprime borrower - limited or somewhat problematic credit history with no bankrupticies, foreclosures or credit judgments - qualifies for rates between 3% and 10% above traditional prime rates through specialty lenders and may have difficulties securing a mortgage or auto loan C: Not OK Subprime borrower - very limited or notably problematic credit history - qualifies for rates between 10% and 20% above traditional prime rates through non-traditional/specialty lenders and will not be able to obtain a mortgage or auto loan
Are there any companies that help to get a mortgage with bad credit?
There are several companies that will help one get a mortgage despite a poor credit score. These companies specialise is the so-called sup-prime arena and include broker sites like Zillow as well as lenders such as Countrywide Home Loans and Gmac.
What are the disadvantages of borrowing from sub prime lenders?
There are a number of potential disadvantages to borrowing from sub prime lenders. Interest rates are often raised after the initial two year period making it difficult to keep up with payments. There are a high number of foreclosure properties linked to sub prime borrowing.
