Bad Credit Mortgage Loans
How to Get Home Mortgages for Bad Credit from Top Lenders & Brokers
Are you looking for financing help on bad credit home loans, refinancing and low rate mortgages for people with a poor credit history? We understand that millions of borrowers need an affordable "bad credit mortgage". Even after the crash of the market, we continue to offer subprime home loans and government refinancing with 15, 30 or 40-year non-conforming mortgages for people with good and bad credit. Get more info on what is needed to get approved for bad credit mortgages can be a challenging process, so you can understand why it is so critical to align yourself with lenders that have experience helping people buy a home with bad credit. We also have a strong track record helping homeowners refinance a mortgage with bad credit. Please complete the form below and our lenders will contact you quickly with information that may help you get approved for a bad credit mortgage.
No Costs or Hassles with Our Bad Credit Mortgage Loan Quotes
Guidelines on bad credit mortgages for first time home buyers have been expanded in recent months, so even if you were denied for a loan in the past doesn't mean you can't get approved today. Please complete the quick form above so you can compare lenders, rates and terms without the pressures you get from most banks. Now you can work with loan officers that can help you evaluate mortgages for people with bad credit.
- Meet Trusted Companies that Specialize in Mortgages for Low Credit Scores
- Get Help Avoiding Predatory Lenders that Charge Excessive Fees
- Affordable Monthly Mortgage Payments that Reduce Your Housing Expenses
- Compare and Review Top Non-Prime Lenders to secure competitive offers with the best rates and terms.
Why People Deserve New Opportunities to Become Homeowners
With the economy struggling, millions of Americans have been suffered from income losses that strapped with them with debt and late payments that caused their credit scores to be adversely affected. Most lenders have distanced themselves from consumers that want a mortgage for bad credit. The crew at BD Nationwide embraces people with all types of credit. If you need a bankruptcy mortgage and it's been 2 years since the discharge date, mortgage loans may provide an opportunity to reestablish credit while qualifying for a low interest rate. We have earned a reputation as one of the few bad credit mortgage lenders that offers low rates and great service. Borrowers with low fico scores are in dire need of a refinancing with bad credit that enables them to trade out their high adjustable interest rates for an affordable loan with a fixed mortgage rate. Getting approved for a loan with bad credit mortgage lenders can be a stressful time. We suggest that you make sure you work with a lender like Nationwide that has significant experience helping people with all ranges of credit scores.
|5 Steps to Get Approved for a Home Loan with Limited or No Credit:
1. Provide Bank Statements for the last 24 months showing timely rent payments to your landlord.
2. Establish Trade Lines with a car loan, charge card etc. It is very important to re-establish credit.
3. Make Payments on Time every month and keep good records of bank statements, cancelled checks, etc.
4. Write Letters to Credit Bureaus requesting they remove errors. Verify with Credit Repositories that they received your written request and monitor the progress to have the derogatory comments changed.
5. Connect with Mortgage Lenders that have a history of underwriting alternative finance programs and extending bad credit home loans.
Borrowers Continue to Seek Info about a Mortgage for Poor Credit
We help people find sources that have the ability to deliver fixed rate refinancing for people with less than perfect credit scores. Even if you have past bankruptcies, charge-off and or late mortgage payments, our mortgage lenders may be able to offer you a fixed rate mortgage that lower your payments and saves you money.
Our sub-prime loan programs include: FHA, hard money refinancing, HELOCs and second mortgage loans with 20, 30 or 40-year non-conforming mortgages for people with good and bad credit. Get a free consultation from a bad credit mortgage lender that evaluates more than your fico scores when considering approving consumers for a loan.
Shop HUD approved FHA mortgage companies that offer refinance loans that only requires 15% equity in the home and the interest rate is competitive. Nationwide is considered a premier subprime mortgage lender and banker offering expanded FHA, VA and non-conforming loan programs for borrowers with all types of credit. We have made finding a FHA mortgage for people with bad credit easier than ever before.
Get a fresh start refinancing with a bad credit mortgage loan, regardless of your credit score or past bankruptcy.
At BD Nationwide, you can FHA lenders that believe that if you have been making your mortgage payments on time for the last year that you deserve a good mortgage with a fair interest rate. We believe you there should be affordable fixed rate loans for you even if you had discharged a bankruptcy a year ago. We believe that you should be rewarded for rebuilding your credit with a low interest rate loan that saves you money. That's why we have always been a big proponent of mortgages for people with bad credit.
If you need a fixed rate or cash out to consolidate debt, FHA refinancing may be the best option for cost effective loans. We offer home loans for poor credit insured by the FHA continue to help borrowers rehabilitate their credit records so they can qualify for lower mortgage rates and better loan terms.
Sub-prime lending has had some recent tightening of guidelines, but that doesn't mean that there isn't a mortgage loan for bad credit that doesn't meet your goals and qualifications.
BD Nationwide has uncovered respected non-conforming lenders across the country to be able to offer competitive rates with forgiving underwriting guidelines that are essential with home mortgages for people who have bad credit. We provide a direct connection between lenders that offer alternative financing options with loan applicants whether they have good or bad credit scores.
Compare Purchase and Refi Rates on Bad Credit Mortgages Now!
Our lending partners have helped many renters become homeowners with our first-time home buyer programs backed by Fannie Mae, Freddie Mac and the Federal Housing Administration. Most people are not aware of the down-payment assistance that is available in many states. Many consumers also do not realize that not all banks and lenders have the same mortgage programs or credit guidelines. We offer non-traditional loan programs that help people qualify for a "bad credit mortgage."
Get a Fixed Rate Mortgage & Consolidate Loans and High Interest Bills.
- Bad Credit Mortgage Refinance
- Fixed Rate Debt Consolidation
- Late on Your Mortgage - OK
- Bankruptcy in the Past - OK
- Bad Credit Home Loan Purchasing
- Buy a Home with Bad Credit
- Past Due Bills & Collections - OK
- Consumer Credit Counseling - OK
- Past Due Credit Card - OK
Refinance Your Bad Credit and Save Money!
If you have been turned down recently, some of our lending sources still may be able to find the right bad credit mortgage loan for you. Think positive and talk with our experience loan officer today about putting together a home financing plan that will turn your bad credit into good credit with enduring good credit scores for the years to come. These days you have more opportunity to improve your credit score quickly. Many lenders offer credit repair solutions such as the Rapid-Rescore that can get creditor mistakes erased and deleted in less than a week. Besides, refinancing your revolving credit loans will increase your fico score simply by consolidating all of your credit cards into a mortgage. Having the ability to quickly improve credit ratings for the purpose of lowering your interest rate on a secured lien is a unique opportunity that typically leads to increased savings annually.
Linda's Suggestions for "Losing the Bad Credit Label"
Let's say you had a bankruptcy 5 or 6 years ago, but your payment history has been good since. You may qualify for a great rate, so don't approach the lender with a "Bad Credit Mentality". Your credit score may have rebounded and your humble approach could end up hurting your rate. We suggest strongly that you know all your fico scores before starting the process of a poor credit mortgage. For example, did you know that by paying a slightly higher rate, over 30-years, you could be losing thousands of dollars? That's why it's imperative that you get the best possible home loan with terms you can afford and fees at most reduced amount possible. Bad credit mortgage loans come in all shapes and sizes. Believe it or not, in some cases the interest rates are very competitive. In most cases subprime finance sources will extend credit with rates at a couple points higher than the conventional averages, but FHA rates remain at the same low interest that Freddie Mac, Fannie Mae and major banks advertise.
Whether you have poor, fair, or perfect credit, we have loan programs that can help you finance your dream home or simply refinance your existing loan for a lower rate. If you have been unable to get approved because of low scores, talk to one of our bad credit mortgage lenders today and find out the financing options that may be available to you. Nationwide has the answers on how to get a mortgage with bad credit.
Bad Credit Mortgage Program Highlights
- Rehab Your Fico Scores (All 3 Bureaus)
- 500 Credit Scores Possible with FHA
- Fixed Interest Rates on Home Loans for Bad Credit
- 1st-time Homebuyers with Poor Credit OK
- Gift Funds Allowed on Purchase Programs
- Competitive Low Rates on High Risk Loans
- No Mortgage Insurance on Poor Credit Mortgages
- No Cash Reserves & Low Bad Credit Mortgage Rates
- No Credit Check Home Loan Quotes
- Mortgage Rates for Bad Credit
- 100% LTV Refinance
- Pay off High Rate Debts
- 30-yr Mortgage Loans for Low Credit Scores
- 40-yr mortgage terms
- Interest Only Option with Subprime Home Loans
- No Application Fee on Bad Credit Mortgages
- Hard Money for Under 500 Fico's
- 3.5% Down Payment with FHA Mortgages
Can I get cash out of my home with a refinance loan for the purpose of paying off my Chapter 13 bankruptcy?
You may be able to refinance now, but your loan to value and credit score will open the door to more loan options, or close the door on any hope for a loan approval if there is an inadequate amount of equity in your home, or if your credit score is extremely low. Not very many lenders will offer this subprime loan program, so make sure you limit your rate shopping to Lenders who offer a wide variety of credit rehab loans. We suggest aligning yourself with bad credit mortgage lenders who have experience with bankruptcy courts. Verify that you're loan processor has experience working with the courts and lenders underwriter.
|More Related Pages for People with Past Credit Problems:
Home Loan for Bad Credit | FHA Loan for Bad Credit | Subprime Loans | Second Chance Mortgage | FHA Mortgages for People with a Bad Credit History | VA Refinancing with Bad Credit
Need to increase your Cash Flow with Lower Payments? Check Out Interest Only Loans
See how a lower monthly payment on home equity, purchase or refinance loans could help your cash flow!
Take Advantage of Our Expertise with Bad Credit Mortgages. For more details, call your loan consultant or apply online. One of our poor credit mortgage lenders will respond to you shortly with rates and program eligibility.
It's no secret that paying off debt and consolidating unsecured bills with a 2nd mortgage or refinance can significantly improve the credit scores as reported by Trans Union, Equifax and Experian. Ask your loan advisor at Nationwide about their recent loan program updates that included expanded credit guidelines for home refinancing and bad credit mortgages. If you are unable to qualify for an equity loan, consider a refinance with FHA, because underwriters have the discretion to approve bad credit home loans with credit scores as low as 500.
Highlights of Home Mortgages for People with Bad Credit
- More Info for Lower Payments Save You Money with Bad Credit House Loans
- Get Access to Money for Debt Consolidation Home Improvements
- Some Bad Credit Home Loan Programs Offer Cash Back for House Rehabilitation
- Compare Terms on Bad Credit Mortgage Rates
- Flexible Equity Lines of Credit
- Eliminate Revolving Credit Card Debt with a Low interest Loan
Need a Mortgage with Bad Credit Offering a Lower Rate to help Pay Your Bills Monthly? Check out our 30 and 40-Year Fixed Rate Loan that features lower monthly payment after refinancing! If you are looking online in an effort to find to a mortgage lender for bad credit refinancing, then you have found the right website. Many of our lenders have been successful helping consumers get qualified for bad credit home loans that are more affordable with lower interest rates and better terms.
Understand More on How the Credit Bureaus Calculate Your Fico Score
Scoring your credit is a method of statistics that brokers and lenders use to objectively assess the credit risk of a mortgage loan applicant. The credit score is a number that rates the chances that you will pay back a loan. Scores range from 350 to 950. 350 is really bad credit that lenders consider the highest risk. 950 is just the opposite: great credit and low risk. The most commonly used credit scores are called FICO scores. The fico scoring system was developed many years ago by a company called Fair Isaac & Company, Inc. Credit scores assess and consider information derived through your credit profile. This system does not analyze your income, savings, or demographic factors like gender, race, nationality or marital status. Past late payments called delinquencies, derogatory credit like charge-offs, current debt level, duration of credit history, and number of credit inquiries are all considered in credit scores. Your score considers both positive and negative information in your credit report. Late payments can reduce your credit score. Establishing or a stellar track record that includes making payments in a timely manner will also raise your credit score.
Of course, the most important factor for obtaining a high and favorable credit score is simply to pay your bills on time, as agreed. Late payments will adversely affect your credit rating. Another critical factor is maintaining a limited balance on revolving accounts like credit cards. It is also better to pay off debt rather than shifting your balances from credit card to credit card. The experts suggest not closing unused cards, because if your debt isn't reduced, less accounts open can also reduce your credit score.
Fortunately, there have been recent changes reduce the negative association from rate shopping for mortgage consumers. Consumer generated inquiries within the past 365 days from mortgage loan or auto finance related industries are ignored for credit scoring purposes for the 1st 30 calendar days. After that multiple inquiries within the next 2 weeks are only counted as one. All inquiries still appear on the credit report, but the impact for inquiries has changed significantly. When you get some time, read the Fair Lending Act that is available online. For more information, please contact the Federal Trade Commission.
How to Order a Free Credit Report
There are 3 consumer reporting credit companies recognized nationally. They are now all using the same website for people to order free annual report. Go to annualcreditreport.com or you can call 1-877-322-8228.
No Costs or Hassles from Lenders that Understand All Types of Credit
Nationwide is a mortgage banker affiliated with a federally chartered bank that provides government home financing for qualified Americans seeking fixed rate solutions and alternative refinancing. Take a minute and review our government programs and conventional rates and non-conforming credit lines that are offered at discount interest rates. Regardless of how low your credit score may be Nationwide believes that with compensating factors and the will of the borrower to turn over a new leaf, that affordable mortgage payments can be a reality. In the past low credit scores have prevented millions of consumers from buying a home but today our lenders are taking more risks. At one time, home buying and refinancing was only available to people that had high fico scores, but we are pleased to announce several initiatives that have opened the door of financing for all types of credit.
Loan Comparison Calculator
This calculator will help you to compare the total interest charges of four different styles of home loans. Whether you are looking for good or bad credit mortgages, this tool will help you calculate a variety of payment options.
Did you know that a bad credit mortgage refinance is one of the best ways for people to reduce their housing expenses? Our calculators will help you analyze the benefits of refinancing. Get help calculating the monthly payment and discover the net interest savings. It will also calculate how many months it will take to get a return on investments for the mortgage loan costs.
Find alternative loans in your state. Learn how to get a mortgage with bad credit.
Latest Buzz On Facebook About BD Nationwide
After being rejected from several banks because we had low credit scores, a friend referred us to BD and their website enabled us to efficiently shop lenders that specialized in poor credit mortgages. Thank You!
- Amy G., Scottsdale, AZ
BD Nationwide helped us find a loan plan that accepted poor credit!
- Tim H., Springfield, MA
Our loan officer took the time to explain to us our finance options as first time home buyers. We made an informed decision and got a great rate!
- Janice S., Venice Beach, CA
Nationwide helped me buy my first home. Their team got me approved for a mortgage that I can afford. Thanks again!
- Jason B., Houston, TX
After a bankruptcy and a few late house payments, we couldn’t find any companies online to assist us in financing a new home. BD Nationwide helped us find a FHA mortgage for people with bad credit scores that didn’t care that we had a BK two years ago. They acknowledged all our payments on time and processed our loan with a great interest rate. Thanks you! – Jill T., Seattle, WA
Thank you so much for your help! We were approved quickly to refinance our poor credit mortgage. Our home was worth less than our mortgage lien but they found a government program that did not consider the loan to value in their underwriting process. - Benjamin D., San Diego, CA
After searching years of searching for a lender that would help us, we finally found a solution when a friend referred us to BD Nationwide. Our mortgage was higher than our home's value so other lenders were quick to deny us loans for refinancing. Nationwide helped us get approved for the HARP mortgage that did not care about our equity or loan to value. We were approved and our loan funded in about 3 weeks. Our mortgage payment was cut by almost $400 so we're very pleased with the savings. -
Jeffery F., Bend, OR
Thanks to BDNation for giving us a second chance. They provided a clear and easy path to shop mortgages for people with bad credit. buy my first home. - Terry and Erica D., Riverside, CA