As anyone with bad credit who has tried to get a home mortgage someplace besides Downs Financial can tell you, it is a tough process. The first thing you have to do is face rejection or even condescension from lenders who about your credit history. They may try to give you advice on improving your credit. Then, they may tell you to come back when your credit has improved.
However, there are certain aspects that can help to get a bad credit home mortgage loan. The first thing that helps is the type of payment history you have since a bankruptcy or other major event. If you have re-established your credit by getting a couple of small credit cards or department store loans, this is very helpful. In addition, if you have paid all of your bills on time since the bankruptcy, this is another sign to lenders that you are working toward good credit.
Another thing that can help secure a bad credit home mortgage is how long you have been at your current job. If you are someone that has had the same job for a number of years, this shows that you are stable in your professional career. This makes a client look much more favorable to a lender than someone who changes jobs frequently.
The last thing that can help in getting a bad credit home mortgage is to deal with a lender that actually works with people who have bad credit. At Downs Financial, about 80 percent of the individuals we help have bad credit. We can work with your bad credit to get you the mortgage you need. Simply fill out the simply online registration form and within 15 minutes, you will hear from one of our experienced loan officers.