Think You Cant Get a Mortgage?

You've finally found that dream home that you have always been searching for, but you are afraid to apply for a mortgage because you have bad credit or less than perfect credit.

Before you give up entirely, there are many mortgage programs that are geared towards people just like you. Here's a short guide to finding the best one.

The first step in getting a home loan is to find out what your actual credit score is. This will help to protect you against lenders taking advantage of you because of your poor score. Some companies may try to charge a higher interest rate than the applicant's score actually warrants, so being prepared is very important. There are many services to help you find and manage your score, so take advantage of them.

Once you know your score, you can then begin to look around for the best mortgage program. Generally speaking, lending agencies categorize credit scores based upon a ranking system. The A- category is for those with the best credit; the D-category is for those with the worst credit history. But even if you fall into the last group, you should be able to find a mortgage scheme.

There are companies that will work with you, regardless of whether you have tax liens, judgements, charge-offs or collections. Many of these companies will probably assign you a higher interest rate than those with good credit, and perhaps even require you to put down a larger deposit on your home. On average, those with poor credit histories are only able to finance approximately 80% of the total asking price, so you will be required to put down the difference.

Even if you have a history of bad credit, or county court judgements levied against you, you should find a mortgage lender who will be sympathetic towards your individual situation.

Mark Lambie is the founder of The Loan House a website that allows consumers to quickly and easily get mortgage refinance mortgage information.

---

What Are Home Equity Loans?

A home equity loan is simply borrowing on the difference... Read More

Helpful Mortgage Advice

Mortgage advice overwhelming you? Many people get advice from everyone... Read More

A Mortgage Loan For Homes

Everybody wants to own a house because it is something... Read More

Buy a Home With a Government Grant? Avoid this Scam

If you watch enough late night television, you'll see advertisements... Read More

Interest-only Mortgages Have Their Pitfalls

Rising home prices, particularly on the East and West coasts... Read More

What is a Capped Mortgage?

A capped mortgage is a variable rate mortgage with a... Read More

Reverse Mortgage Maximization

Have your home's appreciation grow twice as fast.For Seniors over... Read More

Bad Credit Mortgage Lender - What to Look For

If you have less than perfect credit and are looking... Read More

Refinance Your Property Online

By refinancing your property online you can take advantage of... Read More

Thinking About Re-mortaging? Read These Tips First

More and more of use are signing up for limited... Read More

Bridging Loan Basics

A Bridging Loan is a short-term loan used as a... Read More

7 Credit Improving Steps You Must Take Before Applying For A Mortgage

If you think you have good credit, think again. Chances... Read More

6 Things to Consider Before Refinancing

Perhaps you're a homeowner in need of some quick cash.Maybe... Read More

Mortgage Glossary of Terms

A brief list of some of the most common Mortgage... Read More

Flexible Mortgage Tips

Outlined below are some useful flexible mortgage tips. The most... Read More

Repayment Remortgages is The Cure For Outdated Endowment Policy

If bulls and the bears of the stock market have... Read More

Reverse Mortgage ? Be Sure You Need It Before Applying For One

Reverse mortgages used to be considered the last resort of... Read More

Apply For Home Mortgage Loan Online With Bad Credit - Things To Consider

So, you've found the perfect home. You've already decided where... Read More

Find the Best Mortgage Company

If you do not wish to commit to living in... Read More

What the Bank Won?t Tell You About Mortgage Refinancing

So you have a mortgage, and you need to refinance... Read More

A Guide to Direct Homeowner Loans

Are you considering applying for direct homeowner loans? Perhaps you're... Read More

Kingsland Georgia Mortgage Company Information For Homebuyers Transferring to Kings Bay

If you are transferring to the Kings Bay Georgia Naval... Read More

Tips On New York Mortgage Refinance Loan

Many homeowners want to know if it worth taking a... Read More

When Not To Agree To A Home Equity Loan

Before you borrow money on your home's equity, think twice... Read More

Before You Buy

Before you start looking for a home, figure out what... Read More

Composite Credit Report Score Simplifies Mortgage Issues

Do you want a mortgage loan for your new home?... Read More

Kings Bay Georgia Mortgage Information

When choosing the right mortgage company for your home purchase... Read More

Should You Refinance?

There are several reasons that might make someone consider refinancing... Read More

Is the Inverse Mortgage a Scam? New Program Promises Mortgage Payoff inside of 5 Years

If a mortgage could be paid off in five years... Read More

Home Loan Refinancing - What Lenders Dont Want You To Know

Refinancing lenders seems to hold all the cards. They have... Read More

How to Find the Best Home Improvement Loan

If you're looking for the best home improvement loan for... Read More

Are You Ready for a Home Mortgage Loan?

Buying a Home and committing to a Mortgage can be... Read More

Mortgage Information for the First Time Homebuyer

Inflation in the United States is increasing rapidly and home... Read More