|
|
| *Loan,banking and credit>>>bad credit mortgage |
Whats the apr on a mortgage for people with bad credit history? |
me and my partner thinking about trying for a mortgage we on a joint income of about 拢35000 the only problem is we got some bad credit history including a couple of ccjs which could be cleared but ive heard they stay on your credit file for six years and the interest rate is going to be really high if youve had bad credit history does anybody know the average mortgage rate for some1 with bad credit history and know of any companies which may be able to help with a mortgage if it helps should be able to put a 拢5000 depo down. Hi A lot of companies will charge between 1 and 2% above the normal mortgage rate. Unfortunately, as these same companies have you over a barrel they also charge a fee to arrange the mortgage, sometimes 3 - 5% of the mortgage amount, which they know you cant pay, so the money is added to the mortgage account and you pay extra interest on this too. Gulp!!! If you have a bank account and have used it properly over the last year or so then I would suggest going to your bak and talking over the options. A self certificated mortgage may be an option, this is based on your ability to pay as opposed to your earnings etc. One thing to bear in mind though is not to have too many credit searches done as each one is logged on your file and can affect your rating. If the bank cant help you out then do a web search and get some general info from reputable lenders, or speak to a reputable INDEPENDENT financial advisor. Hope this helps and good luck Keep Smiling Dean http://www.freshmortgagesolutions.com... Contact them. Martins Moneysaving Website APR is a reflection of fees charged. Most bad credit borrowers will have an APR higher then normal since the broker will have to work much harder on a bad credit loan. On most conforming loans the APR is usually .25% higher. I have seen some bad credit mortgages have an APR of 1-2% more then the rate. The APR does not reflect your payment though, it is only a reflection of fees charged. Basically the cost of borrowing. http://www.mkemortgage.net/content/sitem... it is so individual that i'm afraid i can't answer this my friend. hope it all goes well! There is no straightforward answer to your question unfortunately. A bad credit history is not the sole factor in determining an APR. The only thing you can do is shop around. |
| Tags |
| loan rate sba loan debt loan cash loans bad credit mortgage best credit card business credit chase credit citibank credit card credit application |
SiteMap--Copyright/IP Policy--Contact Webmaster--Resource of HR For personal non-commercial use only. |