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BAD CREDIT SOLUTIONS
Poor Credit Home Loan – Get The
Mortgage Loan You Want
by: Carrie Reeder
Having poor credit alone cannot hold you back from getting
the home loan you want. Buying a home that is everything
you want in a home, is a very exciting experience. The
blemishes on your credit history will not alone keep you
from getting the home you want and the home you deserve.
Here are some things to keep in mind when moving forward
in the application process to get your home loan:
Contact or apply to many different lenders or brokers
– Online you can fill out many mortgage applications
where the lender or mortgage service company does not
pull your credit history. If they don't ask for your social
security number, they usually cannot pull your credit.
Brokers usually use the initial application or inquiry
form and what you tell them about your credit to make
a decision about whether they should pursue the application
and pull your credit or not. Many lenders will tell you
that you are not going to get approved anywhere and that
if they can’t help you, no one can. That is not true.
All mortgage brokers have access to very different mortgage
programs and some brokers are more creative in their financing
techniques than others.
Fill out your application or inquiry as accurately as
possible – Inflating your income on your application
or inquiry form, to be higher than you know you can verify
your income to be, will only delay the process of getting
pre-approved. The broker will work the fastest for you
if he/she is working with the exact information he/she
needs to be able to verify. That’s the best way to
get approved and through the pre-approval process smoothly.
Be persistent – This is the key when seeking a mortgage
loan pre-approval with poor credit, be optimistic. Look
for creative ways to get financing and contact as many
brokers as possible. There is one or more out there that
can help you. The key is to find them.
Start house hunting - Sometimes the key to getting into
a house is finding the right one and a seller that is
flexible enough to help you do some creative financing
work. For example: the seller carrying back a small percentage
of the loan, the seller paying your closing costs or you
being able to purchase the house for significantly lower
than market value.
To view a list of our recommended poor credit mortgage
lenders, visit this page: www.abcloanguide.com/lessthanperfectcredit.shtml.
About The Author
Written by Carrie Reeder, Owner of www.abcloanguide.com.
Carrie's website is an informational mortgage loan website.
Her website has articles and a list of recommended mortgage
lenders for many different types of mortgage loans.
carrie@abcloanguide.com |
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