answersLogoWhite

0

If one has bad credit, it is difficult to apply for credit-based loans such as a mortgage loan, but there are ways of reversing the bad credit to make it acceptable for lenders. Such ways include making current credit payments in full and showing evidence of steady employment for two years. There are also FHA loans for people with bad credit that guarantee payment to the lender by the FHA if the borrower fails to make payments.

User Avatar

Wiki User

12y ago

What else can I help you with?

Continue Learning about Finance

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.


Where can one find a home loan in California with bad credit?

To find a home loan in California with bad credit you can contact Ameriquest Mortgage Company, The Lenders Network and Reverse Mortgage Lenders Direct.


Where can one get advice on obtaining a mortgage loan when one has a bad credit report?

Advice for obtaining a mortgage loan when one has bad credit can be obtained from bank or mortgage companies such as Wells Fargo or Bank of America Home Loans. Information can also be found on the websites Mortgage Digger and Quicken Loans.


Where can one buy a home loan with bad credit?

There are many places to get a home loan for people with a bad credit. Some of these places include Home Loan Specialist, ICC Mortgage and Financial Services, E-Loan, MortgageCreditProblems and Ameriquest Mortgage Co.


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.

Related Questions

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.


Where can one find a home loan in California with bad credit?

To find a home loan in California with bad credit you can contact Ameriquest Mortgage Company, The Lenders Network and Reverse Mortgage Lenders Direct.


Where can one get advice on obtaining a mortgage loan when one has a bad credit report?

Advice for obtaining a mortgage loan when one has bad credit can be obtained from bank or mortgage companies such as Wells Fargo or Bank of America Home Loans. Information can also be found on the websites Mortgage Digger and Quicken Loans.


Where can one buy a home loan with bad credit?

There are many places to get a home loan for people with a bad credit. Some of these places include Home Loan Specialist, ICC Mortgage and Financial Services, E-Loan, MortgageCreditProblems and Ameriquest Mortgage Co.


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.


What are the advantages of no money down bad credit mortgages?

One might ask, how can one get a no money down bad credit mortgage? If you have bad credit and do not have enough money to put a down payment of a mortgage, you can take advantage of an FHA loan.


How could the FHA help with a bad credit home loan?

The FHA can help with a bad credit home loan by allowing one to get a mortgage despite having bad credit. They are loans insured by the federal government.


How does one apply for a mortgage loan if they have bad credit?

It is not a good idea for one to apply for a mortgage loan if they have bad credit. If one goes to a bank or financial institution for a loan, a mortgage specialist will advise them that they will need to increase their score in order to be approved for a mortgage. One can increase their score by making payments on time, paying off old debts and not applying for new loans.


How does one go about getting a boat loan?

Obtaining a boat loan is the same method as obtaining an automobile loan, a mortgage or any loan. One must have a history of credit scores and no bad credit.


Where online can one find a bad credit home loan?

Bad credit loans can be found at websites like Bad Credit Problems, E-LOAN, Guaranteedcreditloans and Ameriquest Mortgage Company. At the website Loanfinder one can compare services that provide bad credit loans.


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.


How do defaulted homeowner loans affect bad credit?

Defaulted homeowner loans affect bad credit because it wont allow one to get a mortgage or another loan. Most banks and loan lending companies wont offer one a mortgage or a loan because one had taken defaulted homeowner loans.