Many people believe that it’s almost impossible to get a bad credit mortgage. While it’s true that lending norms have become much stricter, there are still many bad credit mortgage options. Lenders do want mortgage loan applicants to have a good credit history, but their expectations are not as high as you might expect.
If you are interested in buying a home and have bad credit or no credit, seek advice from experienced professionals. We have been helping our customers to find the best mortgage deals for years. Please fill out our brief online form now to get free, no-obligation advice on the best bad credit mortgage loan options that are currently available.
Buy your dream home at a great price
This may be one of the best opportunities you will get in your lifetime to buy a great home at a bargain price. Home prices are at very attractive levels and interest rates are very low. If you buy a home now, you will be able to lock in a great price and a very low interest rate. So, stop worrying about your credit score and explore your options for buying your dream home.
You can make a lower down payment
Many people believe that they will be asked to make a down payment of as much as 20 percent of the price of the home. While making a larger down payment will make it easier for you to get a mortgage loan, there’s no need to worry if you can’t afford to do this. There are mortgage loans with low down payments and some have no down payment.
Rural development loans that provide as much as 100% of the purchase price are offered by the U.S. Department of Agriculture. You can also get great deals on homes bought with loans from the Federal Housing Association (FHA), which are owned by the Department of Housing and Urban Development (HUD). Please fill out our brief online form now to get free, no-obligation advice on the best bad credit mortgage loan options that are currently available.
Compare offers from different lenders
Explore your options and compare offers from different lenders before you sign up for a bad credit mortgage loan. Ask the lenders to provide offers in writing, which include all the charges that will be applicable. Jot down notes when you visit different lenders to avoid forgetting important details. Do some online research to check the reputation of the lenders. An online mortgage loan calculator will help you to assess your options.