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Do Home Loans for People with Bad Credit Still Exist?
The rates in the survey below are for people with
good credit. Please contact the companies listed below
for information on their products geared towards people
with past and present credit issues.
There are very few home loan programs for borrowers
with credit scores below 620 in today's market. However,
you may be able to locate a handful of provers out
there such a American Financial Resources who will
consider borrowers down to
580
scores.
You may also want to look into
FHA
loans,
VA
loans, and
USDA
rural housing programs which can offer slightly
more flexible credit guidelines than their conventional
loan counterparts. After the subprime mortgage meltdown
and the corresponding declines in the housing market,
most investors sought the safety of agency (Fannie
Mae and Freddie Mac) products.
If you are in the market for a new home and are not
sure if you can qualify, give American Financial Resources
a call or reach out to the companies listed throughout
ForTheBestRate.com for information.
