Home Mortgage

Subprime Mortgages A Growing Option For Customers With Bad Credi Section


 

Subprime Mortgages A Growing Option For Customers With Bad Credi Navigation


|

Stress and Anxiety Guide Home Page
Tell A Friend about us
California Home Mortgage Loans |
Refinance Va Home Mortgage Lowest Interest Rate Today |
Home Mortgage Loans California |
Manufactured Home Mortgage |
Current Home Mortgage Interest Rates Mn |
California Home Mortgage Refinancing |
Home Mortgage Refinance In Florida |
Interest Only Mortgage Loan First Home Mortgage Maryland Bad |
Refinancing Home Mortgage Loans |
Washington Mutual Home Mortgage Loan |
Based Broker Business Home Mortgage |
Washington Mutual Home Mortgage Loan |
Allied Home Mortgage Capital Corporation |
Refinancing And New Home Mortgage For Those With Bad Credit |
Refinance Home Mortgage Interest Rates |

List of home-mortgage Articles
Sitemap



Social bookmarking
You like it? Share it!
socialize it


Main Subprime Mortgages A Growing Option For Customers With Bad Credi sponsors


 

Newest Best Sellers


 

Welcome to Home Mortgage

 

Subprime Mortgages A Growing Option For Customers With Bad Credi Article

Thumbnail example

Subprime mortgages: A growing option for customers with bad credi

from: Syd Johnson




Subprime mortgage are home mortgage loans to consumer with poor credit histories. This category includes customers with late payments, foreclosures, bankruptcies and more on their credit applications. It also includes some first time buyers and people without a long credit file.

If you are new to the country of for some other reason was shut out of financing for a while, you might not have enough information on your credit file about your spending habits, credit cards and more to warrant a regular mortgage application.

Subprime mortgages are designed to accommodate high risk clients. In the real estate financing industry high risk always comes with high interest rates. It is not unusual for a subprime loan to carry rates that are three points or more above the national average. In addition, the loan amounts tend to be a bit smaller.

How do you know if you are a candidate for a sub prime home mortgage? If you have been turned down by local lenders based on your credit and payment history then you might fall into this category. If there are problems in your file that cannot be corrected within a year or two then you might want to start looking into sub prime home loans.

On other hand, if you have a few problems in your file but there is a chance you can get them cleared up within two years or less, you might want to focus on cleaning up your file. Once you are done, your FICO score will probably go up and you can try again to get a regular home loan.

About the Author

This article may be freely distributed as long as there's an active link to http://www.rapidlingo.com
Syd Johnson
Editor