0
It is very difficult to secure a mortgage if you have little or no credit. Mortgage lenders have become more picky about who they will lend money to after the huge issue took place with forclosures.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What is the average expected credit score to receive a mortgage loan?
There is not an average expected credit score to receive a mortgage loan. You may have a low credit score, and an high income and still be able to qualify. Loans are not just based on credit score.
Where can someone get a mortgage loan for people with bad credit?
One can get a mortgage loan for people with bad credit in two different places. The first place that one can get a mortgage loan for people with bad credit is a bank, like Wells Fargo. Another place that one can get a mortgage loan is a credit card company, like American Express.
Can I get a mortgage with bad credit?
It is possible to get a mortgage loan with bad credit but you will have to pay a lot higher interest rate and the loan amount will be lower. You can go to HUD and talk to a counselor about securing a mortgage loan with bad credit. There are a few different options for people with bad credit.
What is a tradline?
any credit line that you have- credit card, car loan, mortgage and student loan
How hard is it to get a mortgage after chapter 13 discharge?
If you have just filed bankruptcy, you will not be barred from ever obtaining a mortgage loan; however, you will not be able to get one immediately. When you can get a mortgage after bankruptcy will depend upon the type of loan you want, the type of bankruptcy you filed, and how good your credit is at the time you want the loan.
Can you get a mortgage loan with horrible credit?
Most probably No
How can one get poor credit mortgage loan in Ottawa?
To get a poor credit mortgage loan in Ottawa a person needs to seek the advice of a lending company who can help you with getting a loan. Many times they will tell you how to get your credit in better standings so that you may get the loan.
Can you get approved for a mortgage loan with a FICO score of 517?
Yes, you can get approved with a 517 FICO for a mortgage loan; however the terms of the loan may be far worse than if you are able to work on improving your credit score first. Everyone has to start somewhere!
How can someone apply for a mortgage loan?
Someone can apply for a mortgage loan by going to the Realtor website. The website has information on how people including those with bad credit can apply for a mortgage loan.
What and where to pay a mortgage loan?
A mortgage loan is a loan that is used to either purchase a property or get a loan with your property as collateral. You can secure a mortgage through financial institutes like banks, credit unions or mortgage companies like Fannie Mae.
How does a persons credit score affect mortgage credit rates?
Actually the better the credit score the better are the offers for a mortgage credit loan. In general the interests offered for a new loan depend (besides others) directly on the credit score.
What are the qualifications of getting a mortgage?
To get a mortgage one must be able to prove that they are able to meet the monthly payments and pay back the mortgage. One must prove their income and tax returns, pass a credit check loan qualification procedure.
