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| *Loan,banking and credit>>>mortgage loan |
Is there any mortgage companies that loan to high risk people? |
Is there any mortgage companies that loan to high risk people? Lending is a risk based business. You can find lenders who will lend to higher risk people, but the interest rate will be higher due to the risk, there will be a prepayment penalty so that you don't refinance with someone else as soon as your situation improves (guarding against what insurance companies call adverse selection), and you will likely have to have a substantial down payment or significant equity. Source(s): Loan Officer and Realtor in San Diego. Website http://www.danmelson.com Yes, and they charge higher rates for it too. go here and have a look http://www.researchitforme.com/wesayes/h... Yes, but interest rates will be high. You should first contact a consumer credit counselor to fix your credit, then apply for a mortgage loan. Yes there is, but be ready to get hit hard.. Usual the interest rates are huge, and it has a pre-pay penalty (I heard of some that last 5 years).. They like to stick it to you, then lock you in to the crappy loan for as long as possible. You may want to see what options you have to clean up your credit a bit first. It may take awhile to do, but can save you 10's of thousands (if not 100's) in the long run. My own bad experiences |
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