Credit Problem Loans
(Alternative Loan Programs)
Yes, you probably can get a home loan with bad credit. It depends on how bad. There are many classifications. You may be able to get a loan with as little as 5% or 10% down. After completing the application, we forward it to the underwriter. They let us know what our down payment is and our credit grade. Some things to consider are that unless a bankruptcy or foreclosure is 2 years old, it will probably require a higher down payment.
Benefits:
- Debt ratios
to 50%.
- You can buy
before prices go up more!
- Loan can be refinanced if the credit is repaired.
Conditions:
- 2 year employment
work history.
- Verifiable income.
Please note
that these alternative loan programs have a higher interest rate.
We usually suggest a 30-year loan with the first few years fixed.
Your goal would be to refinance the loan as your credit issues age,
thus obtaining a better interest rate. Don't let the housing market
pass you by!
For FREE PREQUALIFICATION, click here.
For more information, please e-mail or call 800-784-5363