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Get a Home Loan With Low Credit

It is still possible to get a home loan, even if you have had some credit difficulties in the past. Don't let fear of some delinquencies or a bankruptcy keep you away from the dream of owning your own home

Credit Problems OK!

Most people have run into credit difficulties at some time or another and this is something that most banks understand, and many lenders are able to work around regardless. It is a common myth that only those with perfect or near-perfect credit scores can get a home loan or refinance their current home mortgage to take advantage of lower rates in the market. Nothing could be further from the truth. In fact, many people with credit scores less than 620 or with delinquencies or bankruptcy in their history are moving into new homes every day.

What Lenders Really Want

If you have declared a bankruptcy years ago but have kept on top of your payments to lenders or credit cards since over the last few years, that will reflect very favorably upon your creditworthiness to many banks and lending institutions today. What banks look for first in determining whether or not to loan money is the ability and willingness to repay a loan. If you have spent the last year or two working steadily and paying your debts on-time, most banks are willing to overlook any discretions that are further back in your credit history, but which might still show up on your credit report. Typical problems that can be overcome include:

  • 30-day delinquencies within the past year
  • 60-day delinquencies within the past two years
  • A bankruptcy discharged more than two years ago
  • Limited income to debt ratio

Having one or two of these issues stops many people from believing that they can get a home loan or refinance the home that they are in, but there are many programs available to help with these issues so that you can get the loan you need.

Contact Us Now for More Information

If you are interested in getting a home loan with less-than-perfect credit, contact us through this site and one of our expert counselors will help guide you through the process of getting approved for one of our easy loan programs.