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Archive for the 'New Home Loan' Category

Qualifying for an FHA loan with bad credit

FHA loans, which are government-insured mortgages offered by most lenders, can be a solution for your home financing issues if you have credit problems. However, FHA loan requirements have been tightened since the housing crisis and lenders require borrowers to prove that they can repay the loan. FHA lenders have various standards, so it pays to shop around and talk to several lenders even if you get turned down by one. Complete the form on this page to reach FHA lenders and find out if you qualify for a loan.

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Can you get a mortgage with bad credit?

Subprime lending, which means approving home loans with bad credit, has been blamed by some people for causing the housing crisis. While that's not the only reason home values dropped and foreclosures rose, bad credit loans are a thing of the past for many lenders. Before you give up on your dream of buying a home, though, you need to do some homework and consult with a lender to find out whether you can qualify now for a poor-credit mortgage. Complete the form on this page to find a lender.

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3 things that affect your home-loan approval

Mortgage lending standards tightened after the housing bubble burst and, even as home prices rise, credit qualification requirements are still high for most home loans. Back when home prices were rising at double-digit rates in 2004 and 2005, lenders were more willing to take a risk with borrowers and a whole industry of bad credit mortgage lenders was ready to help you with a poor-credit mortgage. If you have bad credit today, you may find an FHA loan will be available or you can work with a lender to discuss how to improve your chances of qualifying for a bad credit home mortgage.

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Bad-credit mortgages return

Why is it so hard to get a home loan if you have bad credit? Blame the government behemoths that control 90 percent of American mortgage financing.

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FHA loans: Avoiding one big mistake

If your credit report is not ready for prime time, you're probably applying with FHA mortgage lenders to buy or refinance your house. FHA's guidelines are more flexible than those of conventional mortgage lenders.

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Study finds many renters with credit problems want to buy homes

Contrary to popular belief, the majority of renters are not on the sidelines because they think home ownership is a bad idea. If these folks could find new home loans for people with bad credit, they'd quit renting in a heartbeat.

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Going up? Mortgages for people with bad credit get more expensive

Closing costs for mortgages have increased by 8.8 percent from a year ago, according to a 2011 survey. Learn how to keep your closing costs down on a bad credit mortgage.

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About Mortgage Credit Problems

Specializing in Bad Credit Mortgages… Because Life Doesn’t Always Turn Out Like You Planned. A sick child, a few late bills, or an unexpected expense can easily get you off track and your credit may suffer, but we don't think you should miss out on the opportunities available to everyone else.

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