Bad Credit Mortgages - Am I Eligible?
- Author Paul Barker
- Published November 22, 2010
- Word count 325
"I have a poor credit rating, so refinancing my existing mortgage or buying my own home is impossible."
This is a common misconception that is held by many people with poor credit history. But you may be surprised to hear that this is not always the case. Bad credit mortgages are available for those with a low credit score and you may be in a better financial position to purchase your own property than you think.
Bad credit mortgages
A decade ago the phrase "Bad credit mortgages" was associated with huge rates of interest, dishonest brokers and excessive charges. But over the past few years, bad credit mortgages have emerged from the shadows. With this type of loan now available at a far more competitive price.
For those with bad credit, it can still be quite difficult to get approved for a mortgage loan. This is because the number of lenders who provide remortgages and mortgages for people with poor credit histories is decreasing. Having said that, there are still a handful of mortgage lenders who are willing to help people with credit issues such as mortgage arrears, defaults or CCJs by offering mortgages that are secured against your property, reducing the amount of risk to the lender.
Mortgage quotes.
Trying to find lenders who offer bad credit mortgages and actually obtaining mortgage quotes can be a tedious and lengthy process. To simplify this process, use a dedicated on-line service to obtain the mortgage quotes for you. These free search tools allow you to seek out lenders easily and quickly and are very simple to use. Simplify enter your ZIP code and you will be provided with an up-to-date list of lenders in your area who will provide you with free quotes.
If you are searching for lenders who will provide the best deals on bad credit mortgages, then searching for mortgage quotes using an on-line service is by far the best place to start.
For further advice regarding bad credit mortgages or to use our free on-line tool to find the best mortgage quotes, please click the links in blue.
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- Non resident Mortgages in Spain
- Effective Strategies for Paying Off Your Mortgage Faster
- How Does Equity Release Work?
- Florida First Time Homebuyer: The Indispensable Guide of Tips, Programs, and Resources
- How to Become Debit Free?
- Sellers Concession the Closing Cost Option
- Financing Short Term rentals with DSCR loans
- Why move to Roseville CA
- Simple Interest Mortgage Advantage
- Are Low Doc Commercial Loans available in Australia
- How to Obtain a Rural Agriculture Loan Quickly and Easily
- What is a Caveat Loan?
- Tips for improving your Credit Score before getting a Home Loan
- 3 Things To Look out for With An Equity Release Mortgage
- Manage your Debts by Refinancing your Current Home Loan
- How to Get a Home Loan with Unusual Employment or Income?
- 20 Effective Debt Consolidation Loans Tips with Bad Credit
- Tips for Choosing a Non Conforming Lender
- Why is a Good Credit Rating Important in Australia?
- Most Common Ways That People Fall Into Personal Bankruptcy
- How to Choose a Consumer Credit Counseling Agency?
- Consolidate Your Debts and Take Control of Your Finances
- How to get a Home Loan due to a Bad Credit Report
- Debt Consolidation Home Loans are a Solution to Multiple Debt Problems
- Facts You Should Know About Low Doc Home Loans in Australia
- No Doc Loans from Private Lenders
- Home Loans to Consolidate Debt for People with Bad Credit
- How Can I Get a Mortgage If I Have a Bad Credit History?
- Guidelines to Fix Bad Credit Effectively Through Dispute
- Dealing with Debt – What to know about Debt Consolidation