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Compare credit cards after reading this
Capital One and Chase are two big-time credit lenders. These companies offer a multitude of different cards, and in this article we will compare credit cards between the two companies and see where their rates vary. Since most all credit cards are...
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SuperCharged Secret 5, Credit Card Utopia
LIVING IN CREDIT CARD UTOPIA
Let’s just take a brief moment to recap:
If you’ve been following along on this journey with me, learning the 5 Super-Charged secrets to Credit Card Utopia, then you now know 4 very important things:
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By the time you become interested in credit, two things have
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2) You want something in life like a new car or house and your
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Adverse Credit Mortgage Loan - Persistence is the Key to Getting Approved
People with bad credit that are looking to get a home mortgage loan or to refinance their existing home mortgage loan, know how difficult of a job it can be to try and get approved. Adverse credit history can mean a little more legwork to get an approval for a mortgage loan, and especially to get a decent interest rate.
Most mortgage brokers will tell you that if they can’t help you, no one can. That is simply not true. Every mortgage broker or mortgage lender has access to very different lending programs. A program that may be impossible for one broker can be very possible for another broker. Some mortgage brokers have access to lending companies that specialize in home mortgage loans for people with less than perfect credit that have more lenient qualifications than other sub-prime lenders do.
The key to getting approved for a home mortgage loan with poor or bad credit is persistence.
Apply with online mortgage brokers that will submit your application to multiple lenders, so that you will receive at least 4 lender offers from each application that you submit. These companies will submit your application to usually hundreds of mortgage lenders that can help you with a refinance, purchase, second mortgage or home equity loan and then remit the 4 best offers available to you. These online mortgage broker services can help people in almost every state from Florida to California.
The best thing about this process is that most of these mortgage brokers won’t even pull your credit when you apply. That means that there is no risk to you for trying it out. Usually when you have started to work
with a specific mortgage lender, that is when they will ask if they can pull your credit report. You may already know that multiple inquiries on your credit report can drop your credit score slightly, and if you have bad credit to begin with, you are going to want that score to be as high as possible.
Talk with many different mortgage loan brokers, if you can, have one mortgage loan broker pull your credit and then ask him/her what your credit score is. Then, go to all the other lenders you want to apply with and tell them your situation, with your credit score, income and down payment information. Have them give you some estimates of what they can do before they ever pull your credit.
There are many things you can do to boost your credit score, but before you let your bad credit keep you from getting into a home, be persistent and make sure you have applied with or talked with as many different mortgage lenders or mortgage service companies as you can. If you can apply online, that is a fast, easy way to apply with many mortgage lenders and get responses quickly.
To see a list of our most recommended bad credit mortgage lenders who can help you with refinancing, purchasing, getting a 2nd mortgage or home equity loan, visit this page: Recommended
Bad Credit Mortgage Lenders
About the Author
Carrie Reeder is the owner of ABC Loan Guide. It is an informational website about various types of loans. It has informative articles and the latest finance news.
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