Can you get a mortgage with bad credit? That depends on how bad your credit is.
The home loans that caused the housing market to crash in 2008 are returning under a different name — nonprime loans, though with more documentation than the subprime loans where it seemed like anyone with a pulse could get a home loan. They’re replacing subprime mortgages as a new form of bad credit mortgages, but with some safeguards.
If you have a low credit score and high debt, buying a home is easier than it was almost a decade ago.
You know that late payments will send your credit score plummeting. But do you know how far your score might fall? And do you know how long that missed payment will drag down your score?
The Trump Administration’s policy to deport more illegal immigrants may ultimately hurt the housing market and mortgage lenders in a variety of ways, including fewer immigrants buying homes and more foreclosures, according to immigration experts.
Home shoppers who haven’t checked their credit reports months before applying for a home loan may be in for a shock when they visit a loan officer.
If you've filed for bankruptcy, you're not alone. The American Bankruptcy Institute reported 789,222 personal bankruptcy filings in 2015. And here's the truth: Many of the people behind these bankruptcies will one day be able to qualify for a mortgage and buy a home.
Engaged couples and newlyweds looking to buy a home probably don’t want to have a difficult discussion on financial issues in front of a loan officer.
You supplied all the paperwork. You filled out your Uniform Residential Loan Application, and you supplied a signed letter from your supervisor verifying your employment. Yet your mortgage lender rejected your application for a mortgage.
A bad credit score can keep you from qualifying for a mortgage. But what about having no credit score at all? Turns out, being a so-called "credit invisible" presents just as big a hurdle to qualifying for a mortgage.
When you're looking to buy a home, bad credit can do more than just make it harder to get a mortgage loan. It can make your life more difficult and costly in ways that may never have occurred to you.
Need help with credit repair? Bad credit is one of the chief obstacles for people who can't get a home loan. You can have a decent income and money for a down payment, but if your credit is bad, you're going to have trouble getting approved. Or you may get approved, but have to pay a higher mortgage rate and make a larger down payment than borrowers with better credit scores.