Mortgage Loans Guide

Mortgage Loans Section


 

Mortgage Loans Navigation

Loans Guide Home Page
Partners
Tell A Friend about us
Mortgage Loans Categories Mortgages And Real Estate |
Home Mortgage Loans |
Mortgage Loans Categories Mortgages And Real Estate |
Home Mortgage Loans |
Second Mortgage Loans |
Mortgage Loans Categories Mortgages And Real Estate |
Bad Credit Mortgage Loans |
Home Mortgage Loans |
Second Mortgage Loans |
Mortgage Equity Loans |
Mortgage Loans For Bad Credit |
Mortgage Refinance Loans |
VA Mortgage Loans |
Interest Only Mortgage Loans |
Reverse Mortgage Loans |

List of Mortgage-Loans Articles

Mortgage Loans Best Seller

Learn More Here!



Best Mortgage Loans Products



Click Here To Discover Insider Secrets Of Loan Modification - How To Do It Yourself With 60-Minute Loan Modification!



"Legit Online Jobs" - Click Here To Start Earning Today!


Ovation Credit Services
Check out Ovation Credit Services ... Fix your credit profile today! Ovation specializes in credit report repair. This is an awesome program. They get fantastic results and you'll be amazed at the low monthly fee. Highly recommended!


"How To Get A Mortgage"
Terrific resource on obtaining a mortgage, even if you've been foreclosed or filed bankruptcy. On sale now for only $10.00!

Click Here!


Personal Loans & Visa Approved At Abacus
Offering Personal Loans, Credit Cards For The Credit Impaired.


Click Here!


Mortgage Secrets For Investors
Mortgage Secrets For Real Estate Investors E-book. Stop Getting Bullied By The Banks And Start Closing Your Investor Loans!

Click Here!


Bad Credit Personal Loans Regardless Of Bad Credit - Up To $25,000
Click Here!



Sitemap



Social bookmarking
You like it? Share it!

Newsletter

Subscribe to our newsletter AND receive our exclusive Special Report on Mortgage-Loans
Email:
First Name:



Main Mortgage Loans sponsors


 



Newest Best Sellers


 

Welcome to Mortgage Loans Guide

 

Mortgage Loans Article

Thumbnail example. For a permanent link or to bookmark this article for further reading, click here.

´╗┐Comparing Mortgage Loans with Bad Credit

Loan & Credit Facts



Do you have bad credit? Don't worry; you can still get a mortgage loan.

Sure, it used to be really hard in the past. If you had bad credit, banks and lenders would treat you like you were a bad person. You would rarely be able to buy your own house.

The times have changed, though. Now banks and mortgage companies are competing to gain you as a customer, even if you have bad credit. Because of this, there are all sorts of mortgage loans with bad credit out there for you to choose from.

You don't have to worry that you'll always be renting. You can actually own your own home with the help of these loans.

There are a few aspects of mortgage loans with bad credit that are different than if you had great credit. One of the bigger differences is the interest rate.

Interest rates for people with good credit tend to be around five to seven percent, although this does fluctuate. People with bad credit will often find these rates doubled.
Since this can happen with many mortgage loans with bad credit, it is important that you do a good bit of research. Contact as many banks and lending companies as possible and figure out what interest rates they are providing with their loans for people with bad credit. Through heavy research and comparison, you should be able to find a mortgage loan that has a similar interest rate to what you could find if you had good credit.

Another area that is affected with mortgage loans with bad credit is the down payment.
Down payments are a percentage of the total loan amount that needs to be paid in order to actually receive the loan and buy the house. Normally, this would be around 5% of the total loan.

Loans for people with bad credit tend to have a higher percentage for this. The reason for the higher down payment is the banks want to make sure they can re-sell the house for enough money to cover the money they have loaned you, in the event that you default on the loan.

While a higher downpayment may seem negative, consider this a great opportunity to save up a little longer, but start out with more equity in your home. Plus, you will save money on interest over the loan term, and start to build your good credit history.

Because of this, just like what you did for the interest rate, you should do a fair amount of research. You should be able to find a loan that doesn't have a large down payment. After all, this can really add up when you are buying an expensive home.

If you have bad credit, not all is lost. You still have a chance of getting the right mortgage loans with bad credit. And if you do great research and compare many different lenders, you should be able to find a loan that has great interest rates and down payments.
It is well worth the effort in the end.



Other Mortgage Loans related Articles

Bridge Mortgage Loans
Interest Only Mortgage Loans
Debt Consolidation Mortgage Loans
VA Mortgage Loans
Mortgage Loans Bad Credit

Do you want to contribute to our site : submit your articles HERE


Mortgage Loans Specific links

Mortgage Loans News