Are you hesitant to apply for a home mortgage loan or refinancing because of bad credit?
Acquiring a home is one of the main priorities of an adulthood to help secure the stability for the future.
While most people cannot afford to buy a house in a one-time payment because of high prices, purchasing your own house can still be made possible because of home purchase loans.
With home mortgage loans, almost anyone can buy and own a house without the need to have all the money at once. Banks and other lending institutions can help you purchase your house which you then are going to pay for over a number of years (normally 15-30 years).
However, banks and other lending firms need to know whether you can pay them for the mortgage. One of the major requirements they will ask of you is a good credit score.
That may sound simple, if you already have one.
In reality, however, not everyone has a “fair credit” or a good credit score on their credit record. It may be because there was a phase when they had financial difficulties, and although they were able to fix it, they did not have enough time to regain a good credit score.
Some people may be just starting out in life, and are still trying to build their credit score from zero until they get fair credit. This may take a couple of months or even years before they can establish a good enough credit rating.
If you are one of those who has just started establishing a credit rating, or if you have a record of poor credit and bankruptcy, it may be difficult for banks and other lending institutions to grant you a home mortgage loan. This doesn’t mean, however, that you can’t get a home mortgage loan. Believe it or not, if you have a poor credit rating, you’re not alone.
As previously stated, banks and other financial institutions may be hesitant to grant you a home mortgage loan or refinancing, as they require a good credit score for them to assure you can pay the loan regularly and on time.
However, getting a home mortgage loan and refinancing even with bad credit can still be possible.
There are loan financing firms that focus on providing their clients the best possible loan and refinancing options that fit their needs and their financial and credit status. The service is provided to almost everyone, even those that have a bankruptcy on their credit history.
Financial institutions such as these give an opportunity to those who don’t have a good score, so you may still be able purchase and own your own home.
At Peak Home Loans, you can get a home mortgage refinancing loan or home purchase loan, even when you have a not so favorable credit record and history, and even if you have a record of foreclosure or bankruptcy.
Peak Home Loans finds the best ways they can to provide their clients a home mortgage loan and refinancing loan, even to those who are feeling hopeless of being granted a loan because of their credit score.
With almost two decades of providing people with the best home mortgage loans, you are assured to get the home mortgage loan or refinancing that best fits your financial capabilities and lifestyle. At Peak Home Loans, they can help you own a house with less burden, offering you deals that are within your means.
To make sure that you can pay your monthly home purchase loan or mortgage refinancing, Peak Home Loans offers a monthly payment of as low as $435 at a 3.25% interest rate on a $100,000 mortgage refinancing or home purchase loan.
Having a monthly payment that is as low as $435, your monthly obligations for your home mortgage is lighter than many home purchase loans. Moreover, the 3.25% fixed interest rate assures that you will only be paying a very low interest rate, even when interest rates rise. Therefore, when interest rates go up to as much as 9%, you don’t have to worry, as you will still be paying at a 3.25% rate. The fixed interest gives you assurance that you will be paying the same amount of interest whether the rates in the market rise or fall.
Another good thing about Peak Home Loans is that you are guaranteed a home purchase loan even when you bad credit.
Many people are not able to get a home mortgage loan when they need one because, during lean times, their credit scores have not been established or fixed yet.
At Peak Home Loans, even those whose credit ratings aren’t perfectly ideal, and find it too difficult to obtain and acquire a loan, especially those that have a bankruptcy in their credit history, are still granted a home mortgage loan.
Four out of five applicants with poor credit scores are guaranteed a home purchase loan, so if you have a less than stellar credit score, go to Peak Home Loans as they can help you settle your application so you can start owning your own home.
The representatives of Peak Home Loans not only tell you whether you can get approved for a home purchase loan or refinancing; they help you analyze and find ways on how you can get approved for a loan and the strategies that you can use in order to pay your mortgage with less hassle.
Though you can still be approved for a mortgage refinance or home purchase loan even with bad credit, it doesn’t mean, however, that it is good idea to let your credit score flounder. Fixing or establishing a good credit score is still better and would give you more financial opportunities in the future.
If you currently have bad credit, here are some advice you should follow in order to improve and maintain your credit score and get back to having a good record in your credit history.
First of all, so as not to worsen your already bad credit history, don’t be tempted to open multiple accounts and new credit cards in a short period of time. Doing so only gives you more options to get a credit, which, in time, you will regret when the payment period arrives.
Even when you already have bad credit, credit card providers don’t really care about it, and they will still offer you new accounts, making you want to get even more, especially if you’re using one new account just to pay off an older one. It’s a vicious cycle no one should get in. Once you’re in this cycle, when the bills arrive, all it does is adds more stress and and your credit score will continue to plummet.
Secondly, start paying on time, with at least the minimum required balance.
Paying the minimum balance on or before the due date helps you from having to pay more because of interest rates. Usually, your payments tend to increase over time because of the accumulated interest rates due to overdue payments.
In order to avoid this, and to pay not more than the actual value of your loan or credit over time, start paying at least the minimum required balance on or before the due date. This reduces your chances of seeing your credit score go down, and on a more positive note, may even help you increase your credit score if you do this regularly.
Peak Home Loans gives you the opportunity to get a home mortgage loan and refinancing even when you have bad credit, and own a house instead of renting another person’s property.
Take this rare opportunity and ask for loan and refinancing advice from a Peak Home Loans representative today.
Once you get a low-cost and low-interest rate home mortgage loan or refinancing loan at Peak Home Loans, start fixing and establishing your credit record by paying on time and by not applying for other loans and credit cards that are not of a top priority.
Gaining a good credit score may not be easy. However, if you decide and take the first step in doing so, in time, you’ll be able to get a fair credit rating and get more loan and refinance opportunities you can use on future expenses such as a college education for your child or home renovation.
Ask for mortgage loan and refinancing advice now. Get a home mortgage refinancing or home purchase loan even when you have bad credit, with low monthly payments at a 3.25% interest rate, and start owning your own house while rebuilding a good credit score rating only at Peak Home Loans.
Follow us for more real estate tips and life hacks today!