Although some lenders would lead you to believe otherwise, millions of Americans suffer from poor credit, due to everything from bankruptcy to unpaid medical bills. If you've applied for a mortgage refinance loan only to be turned down because of your credit, don't give up the idea completely. Refinancing your home can have real financial benefits, and there are lenders willing to help you.
Choosing the Right Lender for Bad Credit Refinancing
If you've been turned down for a loan before, it could be that you were approaching the wrong type of lender. Downs Financial is a direct lender, and we specialize in working with people who have less than perfect credit. Because we are loaning our own money, we're free to make our own decisions about whom we lend to, and because there's no middle man to confuse the process, you'll get your answer in a timely manner.
Although mortgage brokers will boast about their "network" of lenders and the flexibility that network offers you, it is often the opposite that ends up being true. Working through a broker means time lost as information is passed from you to the broker to the lender and back again. The lender you're matched with may be located in another region, and they won't know the ins and outs of your market, causing further delays. At Downs Financial, we have a nationwide network of title companies and appraisers working with us, and because we don't have to pay brokerage fees, we pass the savings along to you in the form of lower interest rates and fewer closing fees.
When you apply for bad credit refinancing with Downs Financial, you'll receive a reply the same day. If you have questions before you apply, we have lots of helpful information on our website, or you can call our customer service line to speak with one of our loan experts. We're committed to helping you get the refinancing loan you need regardless of your credit; in fact, we approve four out of five applications we receive. Check us out today and take a step toward increased financial health and security.