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Bad credit home loans

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Talk to the experts in home loans and get your home loan approved - guaranteed! Don't go straight to your bank, find out what other lenders can do by talking to us. – PowerPoint PPT presentation

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Title: Bad credit home loans


1
Bad Credit Home Loans
2
What is a bad credit home loan?
  • A bad credit home loan is a type of mortgage that
    is offered from a non-conforming or specialist
    lender
  • that can consider all situations, in particular
    for those of you with black marks on your credit
    file. It is
  • designed to help outside of the box
    applications from regular people who dont meet
    the banks
  • guidelines.

3
Who can qualify for a home loan?
  • Bad credit home loans are generally suited for
    people who have had something bad happen to them
    such
  • as a divorce, loss of job, injury or business
    failure which has resulted in black marks on
    their credit file.
  • Lenders dislike people who did not want to pay
    for their defaults or those who keep having
    ongoing credit
  • problems.

4
Below is the list of the basic qualifying
criteria
  • Small paid default If you have a small default
    for less than 500 and it has been paid more than
    six months ago then we can help you borrow up to
    90 of the value of your property.
  • More than one small paid default If you have
    less than 1,000 in paid defaults from financial
    institutions (e.g. banks) and less than 500 in
    paid defaults from non-financial institutions
    (e.g. phone companies) then you can borrow up to
    85 or possibly 90 of the property value.
  • Major paid defaults If you have up to 3,000 in
    paid defaults we are able to help you borrow up
    to 80 of the property value with a prime lender,
    or up to 100 of the property value if you have a
    security guarantee from your parents. Larger paid
    defaults up to 10,000 can be considered on a
    case by case basis if you have a very good
    explanation which is backed up with strong
    evidence.
  • Unpaid defaults If you have any unpaid defaults
    then you can only borrow 80 of the property
    value, this is with a non-conforming lender.
  • Judgments / court writs If you have any
    judgments / court writs then you can only borrow
    80 of the property value, this is with a
    non-conforming lender.
  • Part IX agreement Please refer to our Part IX
    agreement page for more information.
  • Bankruptcy Please refer to our bankruptcy
    mortgages page for more information.
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