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| *Loan,banking and credit>>>bad credit mortgage |
Are there any mortgage companies that lend to people with bad credit without having to pay nearly double the? |
interest rate!!!! You can't get something for nothing. If you need a house then get it at a high interest rate if that is all you can qualify for. Pay your bills on time for 2 years. Do everything you can to repair your credit. Pay off your judgements, cancel the cards you don't use, be sure your reports have the information they should, have at least 4 lines of credit, have a checking a savings account and never borrow more than 1/3rd over your limit. If you are good for 2 years then you can refinance and get a better rate. Actually you could probably refinance in 12 months, but you might be better waiting until 2 years. You don't want to refinance too often. Good luck. You will need discipline and diligence, but you can do it. there is some out there such as Beneficial Finance and a few other secondary mortgage companies but you will pay more cause you are a risk and your bad credit record already says you are not too responsible so they punish you with high fees and high interest . They make you pay fopr past behavior and also to protect them selves You would do the same thing if the role was reversed as you want to protect yourself in a high risk situation . Keep trying, I just read there aren't too many people requesting money because eveyone already did, so home owners may be a bit more willing to work with you and morgtage companies should be competive. Good luck I am in the same boat. No. You would be a lot better off fixing your credit and then trying to get a mortgage. Yes i just got a loan for379000.00 and my middle score was only 623 Not likely. People with poor credit are seen as much riskier to lend to. Becasue of that, the interest rate is much higher. try moneysupermarket.com or London & Country. They should help you find one. If you get it sorted let us know. |
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