Bad Credit Mortgage Refinance Loans

Recently, some investors created several alternative refinancing programs for bad credit so that homeowners with low fico scores or past delinquencies can find a second chance loan that yields more savings and lower monthly payments. We offer alternative mortgage refinancing opportunities for homeowners that are unable to meet the conforming guidelines. Talk with bad credit mortgage lenders that believe in 2nd chance refinancing and our underwriters know that there is more to a assessing a borrower's risk than the scores issued by the credit bureaus. BD Nationwide can match you with lenders that extend subprime and FHA refinancing options for borrowers behind on bills. Our lending team provides non-conforming refinance loans, as well as fixed rate mortgages, government loans, lines of credit and hard money for borrowers with a bad credit history. Our bad credit mortgage lenders want you to consider refinancing with a subprime or a FHA mortgage even if you are behind on your existing loans. If you have an adjustable mortgage loan that has an increasing monthly payment, it's time to get your loan approved and interest rate locked. Our experienced team always strives to get you the best loan that makes financial sense with your short and long term goals. Many distressed homeowners already have found out that a bad credit mortgage can be difficult to get approved, even if your house has equity. Get matched with private money sources that provide several refinance solutions for people with less than perfect credit.

New Opportunities with Mortgage Refinancing for Bad Credit from Lenders

Preferred Loan Type Select ---------------> Mortgage Refinance Cash Out Refinance Home Equity New Home Purchase Property Type Select One-----------> Single-Family Detached Condominium Cooperative Multi-Family Dwelling Modular Mobile Home Manufactured Home Property Value Select One-----------> 1st Time Buyer 75,000 - 80,000 80,000 - 85,000 85,000 - 90,000 90,000 - 95,000 95,000 - 100,000 100,000 - 105,000 105,000 - 110,000 110,000 - 115,000 115,000 - 120,000 120,000 - 125,000 125,000 - 130,000 130,000 - 135,000 135,000 - 140,000 140,000 - 145,000 145,000 - 150,000 150,000 - 155,000 155,000 - 160,000 160,000 - 165,000 165,000 - 170,000 170,000 - 175,000 175,000 - 180,000 180,000 - 185,000 185,000 - 190,000 190,000 - 195,000 195,000 - 200,000 200,000 - 205,000 205,000 - 210,000 210,000 - 215,000 215,000 - 220,000 220,000 - 225,000 225,000 - 230,000 230,000 - 235,000 235,000 - 240,000 240,000 - 245,000 245,000 - 250,000 250,000 - 255,000 255,000 - 260,000 260,000 - 265,000 265,000 - 270,000 270,000 - 275,000 275,000 - 280,000 280,000 - 285,000 285,000 - 290,000 290,000 - 295,000 295,000 - 300,000 300,000 - 305,000 305,000 - 310,000 310,000 - 315,000 315,000 - 320,000 320,000 - 325,000 325,000 - 330,000 330,000 - 335,000 335,000 - 340,000 340,000 - 345,000 345,000 - 350,000 350,000 - 355,000 355,000 - 360,000 360,000 - 365,000 365,000 - 370,000 370,000 - 375,000 375,000 - 380,000 380,000 - 385,000 385,000 - 390,000 390,000 - 395,000 395,000 - 400,000 400,000 - 405,000 405,000 - 410,000 410,000 - 415,000 415,000 - 420,000 420,000 - 425,000 425,000 - 430,000 430,000 - 435,000 435,000 - 440,000 440,000 - 445,000 445,000 - 450,000 450,000 - 455,000 455,000 - 460,000 460,000 - 465,000 465,000 - 470,000 470,000 - 475,000 475,000 - 480,000 480,000 - 485,000 485,000 - 490,000 490,000 - 495,000 495,000 - 500,000 500,000 - 505,000 505,000 - 510,000 510,000 - 515,000 515,000 - 520,000 520,000 - 525,000 525,000 - 530,000 530,000 - 535,000 535,000 - 540,000 540,000 - 545,000 545,000 - 550,000 550,000 - 555,000 555,000 - 560,000 560,000 - 565,000 565,000 - 570,000 570,000 - 575,000 575,000 - 580,000 580,000 - 585,000 585,000 - 590,000 590,000 - 595,000 595,000 - 600,000 600,000 - 605,000 605,000 - 610,000 610,000 - 615,000 615,000 - 620,000 620,000 - 625,000 625,000 - 630,000 630,000 - 635,000 635,000 - 640,000 640,000 - 645,000 645,000 - 650,000 650,000 - 655,000 655,000 - 660,000 660,000 - 665,000 665,000 - 670,000 670,000 - 675,000 675,000 - 680,000 680,000 - 685,000 685,000 - 690,000 690,000 - 695,000 695,000 - 700,000 700,000 - 705,000 705,000 - 710,000 710,000 - 715,000 715,000 - 720,000 720,000 - 725,000 725,000 - 730,000 730,000 - 735,000 735,000 - 740,000 740,000 - 745,000 745,000 - 750,000 750,000 - 755,000 755,000 - 760,000 760,000 - 765,000 765,000 - 770,000 770,000 - 775,000 775,000 - 780,000 780,000 - 785,000 785,000 - 790,000 790,000 - 795,000 795,000 - 800,000 Over 800,000 Credit Rating Select ---------------> Excellent Good Fair Poor

FHA, Fannie Mae and Freddie Mac

Fannie Mae and Freddie Mac are also working towards stemming the tide of foreclosures. According to testimony submitted to the House Financial Services Committee, Fannie Mae's chief executive, Daniel H. Mudd, is expected to say that his company is altering its loan products so that lenders can qualify more high-risk borrowers for refinancing. Under a new campaign called HomeStay, Fannie Mae would allow mortgage lenders it works with to refinance homes without first having to clear up borrowers' unpaid bills on their credit reports. The most popular government mortgage relief today is with the "Home Affordable Refinance" and the Emergency Homeowner Loan Program.

Freddie Mac has also introduced additional loan programs for home refinancing to help troubled homeowners. It plans to buy about $20 billion worth of mortgages that would primarily refinance the loans of people in danger of losing their homes. With a stagnant secondary market for subprime lending, FHA may be your best refinancing option, because credit scores are not considered. Subprime homeowners have the ability to keep their homes, preventing foreclosure with the FHA Secure refinance program. The FHA loans offer competitive interest rates and with the recent drop in mortgage rates it makes financial sense to lock into a loan for 30 years.

Which mortgage refinance is the best for you?
What is the purpose of the refinancing your mortgage? This is important, because there is always costs and risks involved in a loan and you need to weight the benefits against the risks every time you go through the process of refinancing your home.

Call now to speak with a friendly loan officer that is excited to help you qualify for a refinance loan that saves you money every month.

Mortgage Refinance Less Than Perfect Credit: Fixed rates and fixed monthly payments.
Includes additional options for lower monthly payments or lower interest rates, and potential tax savings. This fixed rate second mortgage allows customers to know what the payment will be for the entire life of the mortgage.

Ask a loan officer which loan makes more sense for you - Getting a mortgage refinance for bad credit or taking out a 2nd mortgage that permits cash back. If you find bad credit mortgage lenders you may be one step closer to uncovering the best solutions for your needs and eligibilities.

Strong commitment to customer service. Many homeowners are finding comfort with the fixed rate second mortgages that usually have lower rates than the adjustable rates that Prime is set at. Bottom line, at this moment the rates are lower on the fixed rate second mortgage loans than they are for the home equity lines. So the time couldn't be better to lock into a low rate 2nd mortgage and get a fixed rate that allows you to become debt free quicker. Fixed rate second mortgages allow you to budget easier because your payment is the same every month. 

Which mortgage refinance is the best for you?
One important determining question to ask is...What is the purpose of the loan? There has to be a benefit for refinancing. Refinancing should help you to save money, get cash out or trim time from your mortgage. At the end of the day, you need to be able save money or have benefits like additional money back or a shorter term. The benefits for refinancing are essential because you do not want to spend time and money getting a new loan that doesn't offer you tangible value. Discuss you goals with one of our lenders and they will help guide you to a loan program that best suits your needs.