Mortgages With Bad Credit

Dated: 02/04/2015

Views: 2598

Mortgages for buyers with 540 credit score or higher.

If you're struggling with less than perfect credit, the search for a new home can be a saddening and frustrating venture. When you're working with poor credit it limits all of your housing options, even landlords these days are foolishly looking for tenants with good credit, what I tell these landlords is that if someone had perfect credit they could easily buy a house and pay 30-40% less than what the landlord is asking. Nonetheless, the process is frustrating for both the shopper and their agent. 

Luckily, banks are loosening up their standards allowing more people to qualify for mortgages. We've been able to get people into homes recently with a 540 credit score. If you thought home ownership was out of your reach, you may have been mistaken. If you have steady income that you can prove for the last 2 years and no major deficiencies on your credit, you may be able to qualify for a mortgage. The rate of your mortgage won't be astronomically high like if you were purchasing a car either, usually it only varies by .5 point or more per year.

Along with the low-credit mortgages, we may also be able to find buyer incentives that would qualify you for down-payment and closing costs assistance, so you could actually move into a house for less than it would cost you to rent a home.

If you'd like to find out if our mortgage and downpayment programs will work for you, contact us with the chat below, or call 410.384.4059.

2 comments in this topic

  • Posted by Toya
    Hi, I have contacted you all before to no avail. I am really looking to purchase a home. Sooner rather than later. Current lease expires May 30th. Please contact me on [email protected] if you can help. Thanks.
  • Posted by Dee Weekes
    Is this really true. I am tired of hearing "yes we can help." Then all my info is submitted the answer is..."NO.... You need to clean up your credit a little more." Please do not waste my time...either you CAN or you CANNOT. [email protected]

Want to Advertise on this Site?

Latest Blog Posts

Proper Insulation Tips

A properly insulated attic and crawl space can save you 10 to 50 percent off your energy bill. But the reality is, many homes fall short of the recommended insulation levels - about 10 to 14 inches,

Read More

Spring Is Here

Helpful hints to get your home ready for summer...Trim branches so that they are 10 feet away from your roofTouch up peeling paintHave your air conditioning unit serviced and make sure that

Read More

HomeBuyer Happy Hour At BigFish Grill In Crofton

Have a drink, grab a bite to eat and learn about real estate in a casual setting..Are you thinking about buying a home in 2018 and dont know where to start ?Do you want to learn more about Short

Read More

Selling A House 12 Selling Mistakes To Absolutely Avoid When Selling Your House

Selling a House is an art within itself that requires the necessary steps to getting your home sold as quickly and as effective as possible. Without following the optimal steps to selling your

Read More