SubPrime Mortgage Loans
Buy or Refinance with Bad Credit
As more people have seen their fico scores drop our sub-prime lenders have introduced new mortgages for people with bad credit. In most cases, people need a "subprime mortgage" when they have lack of equity low credit scores or difficulties documenting their income. For the first time since the program's inception, rates on loans for people with low credit scores have fallen to a never-before seen level for qualified borrowers. And unlike most high risk lenders, we refer you to companies that do not charge pre-payment penalties when our customers want to refinance.
Learn more about sub-prime mortgage loans for refinancing adjustable rates, bill consolidating, lowering monthly payments and cleaning up bad credit. If your credit scores have fallen recently, a subprime loan or 2nd mortgage may be the perfect interim loan until your credit rebounds.
Compare Lender Quotes on Subprime Mortgage Loans
Sometimes waiting for your credit scores to go back up can cost you money. Until your credit scores rise, subprime mortgages can lower your monthly payments by consolidating credit card debt or fixing the rate with your existing adjustable rate loans. Nationwide provides several subprime mortgage programs for buying and refinancing.
Poor Credit Mortgage
Refinance today and get cash for consolidating your debts even if you have low credit scores or past bankruptcies. You can significantly reduce your current interest rate as well as lower your monthly loan payment so that you can save thousands of dollars each year. We also offer subprime mortgage programs that are government insured.
Rate & Term Refinance
Cash Out for Home Improvements or Debt Consolidation, etc. Borrow up to 100% of the value of your home! FHA approves refinancing to borrowers that typically need a subprime home loan, but the rates are low.
Jumbo Mortgage Loans
These loans do not conform to the guidelines established by Fannie Mae or Freddie Mac or exceeds the conventional loan limit is called a Jumbo loan. These non-conforming loan amounts can go up to two million dollars. Unless you have good credit and some equity you may need a subprime mortgage lender to refinance your jumbo loan. Did you know that we are one of the only non-conforming lenders that provide sub-prime financing to borrowers with low ficos?
In a recent report, the Home Loan Wholesale revealed new statistics that many subprime mortgages were actually performing better than in recent years. They indicated that there were less defaults and the delinquency rates had fallen as well. Read more about subprime lenders online.
Don't worry if you have seen your fico scores plummet because our subprime mortgage lenders are standing by.
There are new subprime mortgages from lenders offering FHA, VA and hard money financing.
3.5% rate is an example of a FHA loan that is a popular solution for people with credit issues in their past. The APR is 3.79% with $1,750 due at closing. The 3.5% rate is fixed for 30-years and we used this example on a $200,000 loan that would have a principal and interest payment of $929.39 a month. Check with a loan officer to verify your eligibility.
Subprime Mortgage Rates
Get the Lowest Interest Rates Online. Get rates for interest only, negative amortization, credit lines, and fixed rate home equity loans with no application fees.
Get a Low Mortgage Payment with Options Many people have discovered the low payment options available with option arm mortgages that offer fixed rate, interest only and neg am payments that have very low rates. Refinance now and increase your cash flow and save.
Equity Loan with Bad Credit
If you are sick of being turned down because you have low credit scores, give Nationwide a try, because we offer second chance loans for people who want to consolidate debt and refinance. We offer fixed loans and credit lines.
Second Mortgage with Bad Credit
We offer many fixed and variable rate second mortgages for people with all types of credit. Check out our Stated income and limited doc home equity loans as well. We offer competitive rates and no equity loan options.
Payment Option ARM for Purchase or Refinance Low payments and flexible options for your mortgage are important for home purchases and maximizing cash out refinancing. Check out these flexible loans that allow you to pick a small payment or principal and interest loan payment. (No longer available)
Apply Online or Call our Friendly & Experienced Loan Department for a Free Quote
This is not an advertisement for credit. See Privacy for Details. NationwideMortgages.net does not offer subprime mortgages, debt consolidation, consumer counseling, foreclosure prevention or any other loan relief assistance. Nothing on this web site contains an offer promise either to make a mortgage loan or that any participating lender will guarantee any subprime mortgage for any purpose or on any specific terms. Loans cannot be made online or be approved without an underwriter analyzing your credit score, debt to income ratio and combined loan to value.