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Which mortgage brokers will assist someone with bad credit when trying to obtain a mortgage on their home?
Wiki User
∙ 10y ago
There are several places one can look if one is trying to obtain a mortgage and has bad credit. Mortagedigger, realator, and homeloanlearning center are good places to start.
Wiki User
∙ 10y ago
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Where can one find a mortgage broker who can help people with bad credit?
You can find mortgage brokers who specialize in helping people with bad credit in several ways: Online Search: Use search engines and online directories to find mortgage brokers in your area. Look for brokers who explicitly mention assisting clients with bad credit. Ask for Referrals: Seek recommendations from friends, family, or colleagues who may have had a similar situation or have used a mortgage broker with expertise in bad credit situations. Real Estate Agents: Real estate agents often work with mortgage brokers and can refer you to one who can help with bad credit. Credit Unions and Local Banks: Visit or call local credit unions and community banks; they may have in-house mortgage specialists who can provide guidance on financing options, even for those with poor credit. Online Mortgage Brokering Platforms: Some online platforms connect borrowers with mortgage brokers who specialize in different credit situations. Be sure to research these platforms for legitimacy. Check with Non-Profit Housing Agencies: Some nonprofit organizations and housing agencies offer advice and resources for individuals with bad credit who are looking to secure a mortgage. Online Forums and Communities: Join online forums and communities where people discuss their experiences and share recommendations for mortgage brokers who can assist with bad credit. Mortgage Broker Associations: Associations like the National Association of Mortgage Brokers (NAMB) can help you find licensed mortgage professionals. Reach out to their local chapters for recommendations.
Is is possible to qualify for a mortgage with bad credit?
There are many different programs to help you get a mortgage even if you have bad credit. You are likey to pay a higher rate for your mortgage but there are mortgage brokers who can help you to qualify.
Where is it possible to get a debt consolidation mortgage?
You can get a debt consolidation mortgage from mortgage brokers, commercial mortgage bankers, commercial banks, credit companies, online lenders, savings and loan associations.
Predatory lenders can charge higher interest rates because someone with bad credit is considered a higher risk than someone with good credit?
Some lenders will charge a higher interest rate to someone with a low fico score or "bruised credit". They are not necessarily "predator lenders" but must take a higher risk than the bank. I am assuming that you are referring to real estate lending. There are private lenders, institutional lenders, mortgage brokers, and mortgage bankers. I would suggest you check with a member of NAMB. National Association of Mortgage Brokers. They are licensed in each State they operate in and also uphold their standards to the Mortgage Broker Code of Ethics. They are licensed and bonded. As far as consumer credit, auto loans, credit cards & payday loans, I am not qualified to answer
What effect does a credit score have on a mortgage?
The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.
Where can one find a mortgage broker who can help people with bad credit?
You can find mortgage brokers who specialize in helping people with bad credit in several ways: Online Search: Use search engines and online directories to find mortgage brokers in your area. Look for brokers who explicitly mention assisting clients with bad credit. Ask for Referrals: Seek recommendations from friends, family, or colleagues who may have had a similar situation or have used a mortgage broker with expertise in bad credit situations. Real Estate Agents: Real estate agents often work with mortgage brokers and can refer you to one who can help with bad credit. Credit Unions and Local Banks: Visit or call local credit unions and community banks; they may have in-house mortgage specialists who can provide guidance on financing options, even for those with poor credit. Online Mortgage Brokering Platforms: Some online platforms connect borrowers with mortgage brokers who specialize in different credit situations. Be sure to research these platforms for legitimacy. Check with Non-Profit Housing Agencies: Some nonprofit organizations and housing agencies offer advice and resources for individuals with bad credit who are looking to secure a mortgage. Online Forums and Communities: Join online forums and communities where people discuss their experiences and share recommendations for mortgage brokers who can assist with bad credit. Mortgage Broker Associations: Associations like the National Association of Mortgage Brokers (NAMB) can help you find licensed mortgage professionals. Reach out to their local chapters for recommendations.
Is is possible to qualify for a mortgage with bad credit?
There are many different programs to help you get a mortgage even if you have bad credit. You are likey to pay a higher rate for your mortgage but there are mortgage brokers who can help you to qualify.
Where is it possible to get a debt consolidation mortgage?
You can get a debt consolidation mortgage from mortgage brokers, commercial mortgage bankers, commercial banks, credit companies, online lenders, savings and loan associations.
What effect does a credit score have on a mortgage?
The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.
Predatory lenders can charge higher interest rates because someone with bad credit is considered a higher risk than someone with good credit?
Some lenders will charge a higher interest rate to someone with a low fico score or "bruised credit". They are not necessarily "predator lenders" but must take a higher risk than the bank. I am assuming that you are referring to real estate lending. There are private lenders, institutional lenders, mortgage brokers, and mortgage bankers. I would suggest you check with a member of NAMB. National Association of Mortgage Brokers. They are licensed in each State they operate in and also uphold their standards to the Mortgage Broker Code of Ethics. They are licensed and bonded. As far as consumer credit, auto loans, credit cards & payday loans, I am not qualified to answer
How can one receive a 2nd mortgage if they have bad credit?
Specialist mortgage brokers may offer a second mortgage to somebody with bad credit. Since the credit crunch this will be much harder to find however and any such deal is likely to carry a weighty interest rate.
Where might one get a mortgage if they have bad credit?
You can get a mortgage with bad credit from companies like the FHA. Other options include brokers and small lenders. However, the interest rates are sometimes higher on these options.
Equal Credit Opportunity Act is overseen by whom?
ECOA is overseen by the Federal Trade Commission for mortgage brokers and the OCC for mortgage bankers answered supplied by www.goldnvault.com
How can someone get a loan from a broker?
Mortgage loans are available from brokers with information related to the property, the person's credit score and history, their down payment, their overall asset-to-debt ratio, and similar financial factors.
What banks allow bad credit mortgage?
Unfortunately, fewer banks will lend to someone with bad credit. Some of the major banks that advertise that they will give a mortgage to someone with bad credit include Paramount Equity and FHA Mortgage.
Where can one find adverse credit mortgage brokers?
Finding a mortgage broker for one with bad credit is no easy task. Besides waiting for one's credit score to raise, the best option is to work through the Federal Housing Administration or FHA. Not only will the FHA offer a better deal (other mortgage brokers will charge exorbitant down payments or interest) but they will offer a 30 year fixed rate loan at low cost.
What are the leading Canadian car insurance brokers?
The leading car insurance brokers for car insurance in Canada is Kanetix, they can also provide insurance for travel, home, mortgage rates and credit cards.
