Subprime Mortgage Lenders - Sub-Prime Loans Now Available Through Traditional Lenders

Author: Carrie Reeder

Sub-prime loans are becoming more readily available through traditional lenders. Even with a bankruptcy or foreclose in your credit history, you can still find financing for the purchase of your home. The key to sub-prime mortgages is to do your research and compare both terms and rates.

Your Credit History

A poor credit history doesn't have to send you running to sub-prime lenders. For one, you may still qualify for an A loan, reserved for people with good credit. If your bankruptcy was four or more years ago and you have established a good payment history since then, your FICO score is probably over 600, the requirement for an A loan.

Through FHA loan programs, you can apply for a loan after two years of a bankruptcy or foreclosure. VA loans also look more leniently on past credit problems. In the end, don't assume that because you have an adverse credit history you have to apply for the higher interest sub-prime loans.

Sub-prime Mortgages

If you find that you do have bad credit, you can still work with a traditional lender, who may offer you better interest rates. As financing companies expand their financing options, more and more companies are adding services for B, C, and D loans.

Sub-prime mortgages are based partly on your credit history, but largely on your mortgage or rent payment history. You will want to provide proof of your rent payments by sending copies of your rent receipts or checks. Mortgage payments can be verified through your credit report.

Sub-prime mortgages are just short term financing options. Once you have improved your credit history, you can refinance your mortgage for better rates.

Sub-prime Lenders

When you start your search for a sub-prime lender, include all lenders in your investigation. Request quotes from traditional lenders as well as those who specialize in poor credit financing. Compare everyone's financing packages to find the best rates and terms.

Ideally, you want to find a low APR with no prepayment fees. Unless you plan to keep your mortgage for seven or more years, it is probably not worth paying points for lower rates. You may also find that an ARM will provide lower rates with more buying power than a fixed rate mortgage.

About the author: See my recommended

Subprime Mortgage Lenders online. Carrie Reeder is the owner of ABC Loan Guide, which offers help with loans for people with bad credit .

The Online Mortgage Application Is The Best Option For Good & Bad Credit

Author: Carrie Reeder

Are you ready to fill out a mortgage application and get your home loan process going? Consider applying for your mortgage online in order to get the best interest rate and the best loan program for you.

There are many mortgage companies online that will offer you the option to complete your mortgage application online, which is very convenient. However, make sure that the mortgage company you apply with can provide you with multiple offers for one application.

The benefits to completing a mortgage application online with a company that will provide you with multiple offers are:

More Programs Available For People With Bad Credit - Credit problems are very common. One of the best ways to get approved for a mortgage loan with bad credit is to try a company online that will provide multiple lender offers. They just have more loan programs to choose from, so they usually have more sub prime mortgage programs available as well.

Mortgage Companies Will Usually Not Pull Your Credit Initially - Mortgage companies online will usually ask you to describe your credit and once you decide on which lender to work with, then they will pull your credit. You don't want your credit pulled very often, because your credit score can drop every time your credit is pulled.

You Can Quickly Compare Lenders and Loan Programs - This will save you a lot of time and hassle. Searching for the right home loan can be very time consuming. Try and contact each lender individually that you have an offer from and get more details about the loan program before you decide.

No Obligation - Oftentimes when working with a mortgage broker in the real world, once you have begun working with someone, you feel obligated to continue the working relationship. With an automated mortgage application process, you can receive offers with no obligation if you are unhappy with any of the loan offers you receive.

About the author: See my recommended Home Mortgage Lenders online for the lowest rates possible. Carrie Reeder is the owner of ABC Loan Guide, which offers help finding the best home mortgage loans .

Business Mortgage or Utah Mortgage?

Author: Adam Smith

Are you looking for commercial lender in Utah that will offer you a business mortgage? If you are new to Utah then there is one thing you should understand, Utah is a peculiar state. So if you visit your commercial lender in search of a business mortgage then they might offer up a puzzled look and then say, oh you mean a Utah Mortgage. To which you should reply, yes that is exactly what I mean, a Utah mortgage. Now that you have the Utah lingo down you will be able to work with you commercial lender and hammer out the details to your business mortgage, errr Utah mortgage that is.

Now you might ask, what exactly is the difference between a Utah mortgage and a business mortgage? And your commercial lender might have a really good answer. But chances are the commercial lender will come clean and tell you a Utah mortgage is really the same thing as a business mortgage.

Appealing to people searching for a business mortgage as well as to people searching for a Utah mortgage is just another way for the commercial lender to expand their reach. Most commercial lenders are really good people at heart and as much as they like to make money their real satisfaction is derived from helping people like you and me. The best Utah commercial lenders have learned through their market research and industry analysis that there are a lot small businesses searching for the aforementioned Utah mortgage. As a result they have broadened their informational marketing efforts in hopes of reaching out to those businesses that are in the market for a Utah mortgage.

Business Mortgage vs. Utah Mortgage

Of course, as you learn the terms and condition of the now ubiquitous Utah mortgage, one quickly realizes that it resembles the typical business mortgage. The average business mortgage is a financial instrument issued by your commercial lender to finance the cost of your office space. There are thousands of businesses that take advantage of a business mortgage so that they can occupy their own office building and be free of rental obligations and the like all the while earning equity in the land their office building sits on. Like you might expect, a business mortgage is secured against the building and the corresponding land. When you take out a business mortgage you also agree to make monthly payments on the mortgage, just like you do on your home mortgage.

Any Utah commercial lender offering a Utah mortgage is essentially offering the same product to your company. When you are issued a Utah mortgage you are also agreeing to pay a monthly installment to cover the interest on the loan and pay down the principal. Just like a business mortgage, a Utah mortgage is secured against the building and the property it sits on. As you can see, a Utah mortgage is basically the same thing as a business mortgage.

So next time you talk to your commercial lender in Utah, don't be fooled by their terminology. You can be confident knowing that the Utah mortgage your commercial lender is offering you is really just a good old business mortgage.

Adam Smith is an informational author for 10X Marketing.com To learn about making a positive

cash flow from investing in Real Estate, visit SNCLoans.com

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