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Is there anywhere that I could apply that will approve me for a mortgage loan if I have BAD credit?

May 19, 2011 Mortgage Loan
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  1. Reply
    Peggy r
    May 19, 2011 at 8:32 am

    No. If you have bad credit, you probably shouldn’t buy a house.

  2. Reply
    Steve D
    May 19, 2011 at 9:18 am

    Very likely. Just be prepared to pay a higher interest rate than you would with good credit.

    Your best bet is to use one of the online services that gets you competitive quotes from several lenders (you know, the “when banks compete, you win” idea). Be honest about your credit situation. You will find lenders who are still interested in your business.

    Here’s one site you can try –

  3. Reply
    Anthony P
    May 19, 2011 at 9:22 am

    I am a mortgage consultant and deal with this a lot. There are sub-prime lender that deal with poor credit scores. Some lenders can go by the high score of the three, some go by the average of the three, and most go by the middle score. As long as you have a good job history and the percentage of the loan to the homes value is pretty low you should be able to get a loan. Also, your debt to income has to be under 50%. Good Luck, any other questions feel free to contact me.

  4. Reply
    todd
    May 19, 2011 at 10:13 am

    Yes. But it depends on how “bad” your bad credit really is. To some people bad credit may just mean having a little too much debt, and to others it may mean having filed for bankrupcy or having alot of collections with WAY to much debt.

    In most cases there are always going to be people that will work with you. You will just have to pay higher interest on your load. If you can get a co-signer who has good credit to go in on the loan with you —that will be the best way to get a good rate.

  5. Reply
    jeffl27
    May 19, 2011 at 10:33 am

    Hi,
    Go to this link: http://www.gotoinfolink.com
    You will find a lot a info about loan and credit card. They also have a section for people who have a bad credit.
    Hope that help 😉
    Jeff

  6. Reply
    CALIFORNIA GOLD
    May 19, 2011 at 11:25 am

    Yes, though it depends upon how you define “bad” and a host of other factors such as property value, amount of loan, debt load, income, etc. For more info, fill out the free evaluation form at

    http://www.totaldebtsolutionsllc.com

    and a loan officer from their network will contact you.

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