Have you ever wondered how people with bad credit get approved for mortgages?
The answer is simple – they get approved because they knew the right program to apply for, and they had the right lender.
Most people get turned down for a mortgage because they didn’t apply for the right bad credit home loan program. The key to getting approved for a bad credit home loan is knowing who to talk to and which program to apply for. Lucky for you, that’s our specialty!
Our reps are up to date on the current bad credit mortgage programs, and our lender network enables us to match you with the perfect lender for your credit situation. For example, if you have bad credit due to collections or medical bills, you will need to look at different loan programs than if you have bad credit due to bankruptcy or divorce. My Financial Gateway helps by gathering as many details about your situation as possible, and then finding the best program for your needs.
If you’re wondering how to buy a home with bad credit and are confused about the differences between sub-prime loans, bad credit FHA programs, bad credit conventional loans, bad credit conforming loans, and HARP programs, let our team simplify the process for you. Simply complete the form above, and we’ll help you find the answers you need.
“How do I get a new home with bad credit?”
This is probably the most frequently asked question in the mortgage business today. For most people, the best answer is to apply for an FHA bad credit home loan. There are several reasons that make this type of loan unique.
FHA bad credit home loans are insured by the government, and therefore encourage lenders to loan money to people with lower credit scores.
Unlike stricter mortgage products, an FHA bad credit home loan can help you get into a new home, even if you’ve had collections, bankruptcy, or currently have outstanding medical bills.
Our specialists take a very systematic approach to helping you get into an FHA bad credit home loan. We’ll help you get your credit score for free, compare that to the existing loan products out there, and then tell you what the shortest path is to getting into the home of your dreams. Simply complete the form above, and we’ll help you find the answers you need.
Feeling Confused? You’re Not Alone!
Getting a mortgage can be difficult and downright tough if you have bad credit. Despite a significant number of lenders offering bad credit loans, and numerous government programs, few people know where to look.
In fact, according to Yahoo Finance, “How to get a mortgage with bad credit” was the 5th-most-searched finance term in 2014.
Getting a mortgage with bad credit is possible -- you just have to know what you’re doing. The trick is knowing the right people to talk to. First, you need to find the right home. Second, you need to speak with the right lender about the right program. Finally, you need to close on the property at the right time. This doesn’t sound so difficult but with thousands of lenders in the market, each offering their own loan products, pinpointing the right match can be tricky.
We have a network of over 10,000 mortgage brokers in all 50 states, and a proprietary database to match up borrowers with lenders based on credit factors. Our team can help you understand what options are available to you and help get you into a home. Our programs are catered to our customers, and our options don’t stop at lenders.
We can refer you to credit-service providers to help address any nagging credit issues that may prevent you from getting a mortgage. If you’re one of the many individuals wondering “How to get a mortgage with bad credit,” simply complete the form above. We’ll help you find the answers you need.
Find the Right Lender
With over 8,000 mortgage originators in the US today, finding the right bad credit mortgage lender can be like looking for a needle in a haystack. A good place to start when looking for the right lender is with your credit scores. Once you know your scores, you can start your search for a lender based on what type of mortgage you will qualify for – Traditional or Bad Credit FHA.
If your score is lower, a bad credit FHA loan is likely to be your best bet. These types of loans are called “subprime loans,” and are offered by a number of financial institutions. In fact, since 2014, many larger lenders such as Wells Fargo, Bank One, and Chase have reopened subprime divisions in an effort to assist borrowers with damaged credit.
Many banks can fund these loans, but finding one that you want to work with can be difficult. With over a decade in the mortgage industry, and a vast network of over 10,000 individual loan officers, My Financial Gateway can help you identify the right bad credit mortgage lender for your needs. Simply complete the form above, and we’ll help set you up with a loan and lender for your situation.
Start planning for your new home today. Fill out the form above to get started.
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