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What should you do if you have bad credit but you need a mortgage?
Wiki User
∙ 12y ago
You should talk to a banker about your options. Your chances are low but you might some options. You more then likely will have a high down payment and high payments.
Wiki User
∙ 12y ago
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What should one do if they have bad credit but need a loan on their first mortgage?
If someone has got a bad credit record and wants a loan linked to their first mortgage then they will need to convince a bank that they do have a good and realistic chance that the loan will be paid back. As it stands they are probably a bad credit risk so they will find getting the loan hard.
Where can a person go to get information on mortgage lenders for bad credit?
There are a few websites where one can go to get information on mortgage lenders for bad credit. Realtor have an article on how to get a mortgage with bad credit. The Bad Credit Whiz website has a list of the top 10 bad credit mortgage companies.
How can I get a mortgage with bad credit?
It is very difficult to get a mortgage with bad credit. You will probably first have to raise your credit score.
What paperwork do I need to fill out to apply for a bad credit mortgage?
For a bad credit mortgage you need to have a stable income, someone who can guarantee your loan, and a down payment of at least 20%. As well, the rates for these mortgages are much higher.
Where can one get a home mortgage if one has bad credit?
One can get a home mortgage if one has bad credit from several different places. Some of the places that one can get a home mortgage with bad credit are: banks, and mortgage companies.
Where can I find more information on getting a mortgage with bad credit?
Check out this article about getting a motgage with bad credit... http://www.finweb.com/mortgage/need-a-mortgage-but-have-bad-credit.html You can learn more about getting a mortgage with bad credit, by visiting www.fha.gov, www.hud.gov, and www.mortgageloansbadcredit.com.
What should one do if they have bad credit but need a loan on their first mortgage?
If someone has got a bad credit record and wants a loan linked to their first mortgage then they will need to convince a bank that they do have a good and realistic chance that the loan will be paid back. As it stands they are probably a bad credit risk so they will find getting the loan hard.
Where can a person go to get information on mortgage lenders for bad credit?
There are a few websites where one can go to get information on mortgage lenders for bad credit. Realtor have an article on how to get a mortgage with bad credit. The Bad Credit Whiz website has a list of the top 10 bad credit mortgage companies.
How do I get a mortgage with bad credit?
The best way to get a mortgage when you have bad credit is to take care of the negative issues on your credit. Try to get pre-approval on a mortgage and they will tell you what steps you need to take.
How can I get a mortgage with bad credit?
It is very difficult to get a mortgage with bad credit. You will probably first have to raise your credit score.
How can I get a reversed mortgage on a bad credit score?
http://www.reversemortgageinterest.org is a great website to help you find all the information you need concerning your reversed mortgage and bad credit score.
What paperwork do I need to fill out to apply for a bad credit mortgage?
For a bad credit mortgage you need to have a stable income, someone who can guarantee your loan, and a down payment of at least 20%. As well, the rates for these mortgages are much higher.
Will they give me a mortgage if I have bad credit?
Often you can get a mortgage with bad credit. Bad credit can, though, increase your interest rate, increasing your monthly payment.
Where can one get a home mortgage if one has bad credit?
One can get a home mortgage if one has bad credit from several different places. Some of the places that one can get a home mortgage with bad credit are: banks, and mortgage companies.
What mortgage lender can a person use for bad credit?
There are a few mortgage companies that one can use even if one has bad credit. The downfall of this is that you will need to have a cosigner, and will likely have a higher interest rate.
Where can one go to get a loan for a mortgage refinance if one has a bad credit history?
You can go to your local bank, talk to your financial advisor, see if you are qualify to get a mortgage if you have a bad credit history. They probably need you to have a guarantor co-sign your mortgage.
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.
