Bad Credit Mortgages - Getting Around a Poor Credit
Buying a Duluth Home With Bad Credit
Buying a home is usually considered a good investment that can help set you up for long-term financial stability. However because the home buying process can seem difficult and complex, some would-be home buyers with bad credit often assume securing a mortgage and purchasing a home isn't a realistic option. But with a steady income history and the ability to prove you’re a worthy candidate who will actually be able to re-pay the loan, getting around your poor credit score truly is a realistic possibility, depending on who you work with.
The Kris Lindahl Team works closely with lending partners that understand every home buyer’s needs, regardless of whether you have good credit or bad credit. Bad credit mortgages, also known as sub-prime loans, are commonly granted to home buyers with a less-than-stellar credit score, only the difference between working with The Kris Lindahl Team and other lenders in the business is that we’ll work to get you a fair home loan with a reasonable interest rate.
Are You a Candidate For a Bad Credit Mortgage?
Lending partners of the Kris Lindahl Team are experts in analyzing your credit history to detainee what home loan works best for your individual situation. If you think you might be someone who needs a bad credit mortgage, here’s a quick rundown of who usually qualifies for this particular home loan option:
- Someone with a credit score of 620 or lower
- Someone who has two 30-day late mortgage payments within the past 12 months
- Someone who has one 60-day late payment on a mortgage within the past 12 months
- Someone who has filed bankruptcy within in the past 2 years
- Someone who has a higher-than-average debt-to-income ratio
- Someone who has had a foreclosure i the past 2 years
Interested in learning more? Contact The Kris Lindahl Team to receive more information about bad credit mortgages.