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Yes, people who have fair credit get good mortgage rate. They will have to look a lot harder for someone to give them a good mortgage rate, as there are less of them out there.
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∙ 11y ago
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With fair credit but income of 130k per year for one person with a spouse that has good credit with 36k per year would a mortgage be approved?
You would definitely be able to get a mortgage. The specifics of your credit history would determine the amount of interest you would be charged.
What is the worst thing about bad credit mortgage?
The worst thing about a bad credit mortgage is the price you have to pay. You get a worse rate and have to pay more for longer than if you have a good credit mortgage.
Can someone with a mortgage get another mortgage to buy a second house?
If they have good credit and the ability to repay. Most people who own multiple homes have multiple mortgages.
Can you obtain a home equity loan on a family home that does not have a mortgage?
Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.
Why are there two mortgage rates?
Often, a mortgage rate depends on the person's credit. If the credit rating is good, then they usually get a lower interest rate. But if their credit is not good or if they have not yet established a credit history, then they often pay a higher rate.
With fair credit but income of 130k per year for one person with a spouse that has good credit with 36k per year would a mortgage be approved?
You would definitely be able to get a mortgage. The specifics of your credit history would determine the amount of interest you would be charged.
What is the worst thing about bad credit mortgage?
The worst thing about a bad credit mortgage is the price you have to pay. You get a worse rate and have to pay more for longer than if you have a good credit mortgage.
Can someone with a mortgage get another mortgage to buy a second house?
If they have good credit and the ability to repay. Most people who own multiple homes have multiple mortgages.
Can you obtain a home equity loan on a family home that does not have a mortgage?
Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.Yes, as long as you have a good enough credit rating to qualify for the mortgage.
Why are there two mortgage rates?
Often, a mortgage rate depends on the person's credit. If the credit rating is good, then they usually get a lower interest rate. But if their credit is not good or if they have not yet established a credit history, then they often pay a higher rate.
What are some of the highest rating companies that offer loans for people with bad credit?
It may not always be easy to find a company which offers loans to people with bad credit scores. However, it is not impossible. Mortgage Credit Problems, E-Loan and Ameriquest Mortgage Co. offer loans to people with bad credit scores and have received good customer feedback.
How can one get a mortgage with bad credit history?
Although having a good credit history is better when applying for a mortgage it is possible to still get a mortgage with a bad credit history. When getting a mortgage with a bad credit history, one will have to pay a higher interest rate. Show the mortgage lender that you have a good job that will cover your mortgage. If you eliminate all other debt it looks better to the lender and gives one a better chance at getting approved.
What is a good place to look for an Adverse credit mortgage lender?
There are a number of places one can look for an adverse credit mortgage (also known as a bad credit mortgage) lender. Some potential sites include uSwitch, Council of Mortgage Lenders and Realtor.
Do you need good credit to buy a house?
Yes, in order to obtain a mortgage you will be required to have a good credit record.
What credit score do you need to get a mortgage?
Currently, it is tough to get a mortgage even with very good credit. 730 is about average so a score close to 800 has a good chance of getting approved.
What is a credit score of 642 mean?
Fair credit..not good not bad
Where can I find refinance companies in California?
Apply online at Refinance mortgage rates. They match people in categories with lenders. For example, do you have ; Excellent , Good , Fair or needs Improvement , type of credit. Please make sure you check out the website. It is a great deal.
