Bad Credit Mortgages – What Are They?
When people fail to repay or go late on a number of credit payments, it results in low credit score. Perhaps you are in currently in this position. You may be wondering – are there mortgage options for low credit? Of course there’s a way out! While a poor credit score is a bad news, you can still get a mortgage with poor credit.
What is a Bad Credit Mortgage?
Also called low credit mortgage or poor credit mortgage, it’s the kind of mortgage that people with low credit scores can easily access. Before now, there was no such thing as bad credit lenders. In fact, mortgage lenders reject people with poor to low credit score. However, owing to a consistent increase in competition across financial institutions – cheers to new beginnings. More lenders and mortgagers are engaging in the flourishing market – offering bad credit mortgages as a way of maximizing profits.
While they are called bad credit mortgages, their interest rates and terms assume same modalities as standard mortgages. In fact, mortgage providers for low credit are readily available in the market today. Many banks and mortgage companies are also tapping into the market too, making good profits. So, if your low credit score is as a result of bankruptcy, criminal charges, any other financial problems – you qualify.
Bad Credit Mortgage – Good or Bad?
While getting mortgage loans for poor credit is good for some people, it is not quite beneficial to others. Know the best step to take. At Credit Repair Now we offer the best advice. Think you qualify for a bad credit mortgage? We will help you. We promise to walk you every step of the way until you get approved for one.
Seeing as we are in a partnership with Dominion Lending Centers Mortgage House, you’ll get answers to all your mortgage needs.
Contact us today and start qualifying for a mortgage here.