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In a recent report, Clear Capital issued its Home Data Index that includes sales data through June. The report through June 2013 underscored new trends that suggest the overall housing recovery is more substantial than previously thought of.
With low rates and expanded guidelines from most lenders nationally, consumers have more opportunities than ever before to get a great home loan with poor credit scores. Learn more about today's standards.
Home Loans with Bad Credit
Nationwide Home Mortgage Loan Refinancing for People with Poor Credit Scores and Limited Trade lines
Did you know that nearly 40% of consumers in the U.S. have experienced a financial setback in the last few years that has caused their credit score to suffer? The demand for bad credit home mortgage programs has surged since the recession resurfaced. According to CreditReport.com, the average credit score dropped nearly 50% in the last 48 months? With more and more people needing a bad credit home loan it has helped make the rates more competitive. Even the Federal Housing Administration is approving bad credit home loans on applicants with fico scores greater than 500.
Save Money and Improve Your Fico Scores with Low Interest Home Mortgage Loans for Bad Credit
Utilize our bad credit home loan program that offers second chance financing in 50 states. Millions of borrowers have suffered with bad credit and many lenders are pleased to be able to offer bad credit loans for refinancing or home purchase. Our home financing unit continues to provide subprime financing for new home purchase and refinance transactions.
Get Rates on Home Loans with Bad Credit
Government home financing is more popular than ever because FHA mortgages ensure fair lending with flexible credit guidelines. Now you can buy a home or refinance your adjustable rate loans even if you have credit scores below 600. Bad credit home financing allows both fixed and adjustable rate terms with options for interest only payments for qualifying borrowers.
Refinancing a bad credit home mortgage or adding a second mortgage can help you lower interest rates and reduce monthly payments. Often times, home loans can assist you credit rebounding and in most cases will raise your credit scores with timely payments.
Options for home loans with bad credit are available depending upon and equity and debt to income ratio. Homeowners often have a significant financial edge when it comes to consolidating bad credit and high interest loans. If you took out a poor credit home loan a few years ago it may be in your best interest to compare loan options today because lower rates may lead to lower mortgage payments. Nationwide Mortgages does not offer debt relief or legal advice. Consult with a loan officer, because not everyone will qualify for a bad credit home loan.