Do you have bad credit? Finding a mortgage with bad credit can be a difficult task, and there is a need to find solutions. In this article, we will look at how you can get a mortgage to buy a home with, yes, even with poor credit!
The first point to remember, is that you do have options, however, there is first a need to look at your own circumstances.
Low credit doesn’t mean that you can get financing, in fact the only reason you get financing, is because the lender believes that you have a financial ability to pay throughout the course of the mortgage.
What this means, is that you likely have worked for over a decade. That you likely have built up some money, that you can pay for things, and have a stable job! Meeting this criteria, is the first step. The next step is to take action, but even here, poor credit histories can stop your progress. We need solutions. Luckily there are 3 main ones!
The first option, is that of fixing your existing credit rating. And this can be done by first getting your credit report through Experian. Though this can take time. If you need finance fast, there are more solutions.
Going online is a great idea, to find poor credit mortgage providers. These are specialists, and in most cases may have something for you.
Another solution, is to go through mortgage brokers, who may have a bad credit option. Here, they will do the work, and likely can help you find finance fast!
By Robert Charlson