As a mortgage professional, I am getting daily requests for bad credit mortgages. The reality is that there are more people which bad credit than there are people with good credit.
What is bad credit? From a lending perspective it is anything below a score of 620. If your score is less than 620, you can still buy a home with bad credit.
If you are reading this because you are looking for help or if you have a client who needs a bad credit mortgage, then the good news is that there are solutions today.
Compensating factors to help you to qualify
- Larger Down Payment
- High income levels
- Low Debt To Income Ratios
- High Cash Reserves
- Steady Employment History
- Positive Rental Payment History
There are a few bad credit mortgage options out there. Read more about bad credit loans and find a lender
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