1-954-667-9110

BAD CREDIT

BAD CREDIT FHA MORTGAGE LENDERS

KNOWLEDGE IS POWER- Many Bad Credit mortgage applicants don’t realize that private bad credit FHA Mortgage Lenders that provide Government guaranteed mortgage approvals based on payment history and not based on your bad credit scores. Believe it or not there are some bad credit mortgage lenders that still provide low interest rate government mortgage loans can help bad credit FHA mortgage applicants purchase or refinance a home with bad credit. Even If you have a bad credit past and you’re looking for a low interest rate a bad credit FHA mortgage lender may be able to help you with one of our programs:

WHATS THE MINIMUM REQUIRED CREDIT SCORE FOR BAD CREDIT?

ADDITIONAL QUALIFYING CRITERIA APPLIES

BAD CREDIT FHA MORTGAGE LENDERS APPROVALS WITH MINIMAL DOWN PAYMENT AND CLOSING FEES:

  • Down payment only 3.5% of the purchase price.
  • Gifts from family or FHA Grants for down payment assistance and closing costs OK!
  • Sellers can credit the buyer’s up to 6% of sales price towards buyers costs and pre-paid.
  • No reserves or future payments in account required.
  • FHA regulated closing costs.
  • Read more about buying a home with an FHA mortgage Bad Credit –No Credit – Investment –Second Home –Multi Family – 

BAD CREDIT FHA MORTGAGE LENDERS MAKE QUALIFYING EASIER BECAUSE YOU CAN PURCHASE:

  • 12 months after a chapter 13 Bankruptcy FHA mortgage Lender approvals!
  • 24 months after a chapter 7 Bankruptcy FHA mortgage Lender approvals!
  • 3 years after a Foreclosure FHA mortgage Lender approvals!
  • No Credit Score FHA mortgage Lender approvals!
  • 580 required for 96.5% financing or 3.5% down payment FHA mortgage Lender approvals.
  • 500 required for 90% financing or 10% down payment FHA mortgage Lender approvals.
  • Bad Credit with minimum 500 FICO credit score with 10% Down Payment FHA. For FHA mortgage applicants with credit scores between 500 and 579 must make down payments of at least 10% down!
  • Read more about FHA Qualifying Qualification Summary – Manual Underwrite – Collections-Judgement’s – Bankruptcy or Foreclosure – Compensating Factors –

BAD CREDIT FHA MORTGAGE LENDERS ALLOW HIGHER DEBT TO INCOME & EASIER JOB QUALIFYING

BAD CREDIT? – GET PRE APPROVED TODAY!

ALL SITUATIONS ARE WELCOME!!!

MORE BAD CREDIT MORTGAGE LENDERS PROGRAMS INCLUDE:

  • Bad Credit Bank Statement Only Mortgage Lenders!
  • Bad Credit Mortgage After Foreclosure – Short Sale – Bankruptcy- Foreclosure
  • Bad Credit Mortgage Refinance
  • Bad Credit Portfolio Lenders
  • Buy a home 1 day after a Foreclosure or Bankruptcy
  • Bad Credit FHA Mortgage lenders
  • No Credit score mortgage lenders
  • Hard Money mortgage lenders
  • Bad Credit Modular Home Loans
  • Bad Credit 2nd Second Mortgage
  • Stop Foreclosure Lenders
  • VA bad credit mortgage lenders
  • Bad Credit Mortgage with Judgments
  • Bad Credit Mortgage with Evictions
  • Bad Credit Mortgage with Tax Liens and Judgments
FHA BAD CREDIT MORTGAGE LENDERS UNDERWRITING- Bad Credit FHA mortgage lenders must downgrade and manually underwrite an FHA mortgage applicant that does not have Automated underwriting system approval or if the the non-occupying co-borrower has a lower credit score. FHA mortgage applicants with no credit or insufficient credit payment histories may be approved for maximum FHA financing, but must be manually underwritten using the procedures in Handbook 4000. When the FHA mortgage application involves multiple borrowers, the FHA mortgage lender must determine the bad credit credit scores for each borrower, and then select the lowest middle credit score for all borrowers. Where the FHA mortgage involves multiple borrowers and one or more of the borrowers do not have No credit score  the FHA mortgage lender must select the lowest middle credit score of the borrower’s with the lowest credit score’s. The FHA mortgage lender must review the credit report to determine the borrower’s credit score and payment histories are acceptable under FHA minimum bad credit mortgage lending requirements.

GOVERNMENT BAD CREDIT LOANS –An FHA or VA mortgage lender may be able to help you purchase a new home with 0 or 3.5% down payment even if you have bad credit. Even If you’ve had accounts forwarded to collections, past bankruptcies or Foreclosures, high debt to income ratio, then you still may qualify for our bad credit or no credit mortgage programs. These government backed bad credit mortgage loans can work for mortgage applicants that don’t have cash for a down payment or closing costs. And they are a much better choice than a money loan option.

WE HELP FHA MORTGAGE APPLICANTS WITH BAD CREDIT GET APPROVEDWe work with all types of bad credit mortgage applicants with all types of credit situations who described themselves as having “bad credit” – that are now homeowners! The truth is, there are many more Bad credit mortgage applicants that will qualify for an FHA mortgage over conventional mortgage.

WHAT DO BAD CREDIT FHA MORTGAGE LENDERS LOOK FOR? Mostly bad credit lenders like every other lender want to see stability for at least the last 12 months. Regardless of your past bad credit lenders know they are taking a risk. But less of a risk with a borrower that is now back on track with proof of the last 12 months’ timely rental history. And no 30 day +plus late payments within the last 12 months. Bad credit mortgage lenders are looking for borrower who can not prove they are back on their feet!

FREE BAD CREDIT REPAIR CHECKLIST ATTACHED (CLICK HERE)- Bad credit scores can indicate to mortgage lenders how well you manage money. You can improve bad credit mortgage approval chances by cleaning up your bad credit history.. Furthermore, since bad credit scores could translate into high interest rates and a much larger down payment for most it always makes sense to focus on repairing the bad credit before applying with a bad credit mortgage lender.

HOW TO IMPROVE BAD CREDIT FAST IF YOU HAVE BAD CREDIT- Here are a few ways bad credit mortgage applicants can raise their credit scores and fix their bad credit fast.

  1. VERIFY TIMELY HOUSING PAYMENT HISTORY- Pay rent by check or bank transfer. Lets face it if you can prove to a bad credit mortgage lender you can pay your rent on time, you can pay a mortgage. By providing either 12 months timely rental history either provide cancelled checks or verification of rent from a management company you can show the bad credit lender you can handle the new obligation. In the hierarchy of bad credit mortgage approvals, if you can prove timely rental history then you can pay a mortgage
  2. PAY DOWN BALANCES ON REVOLVING CREDIT CARDS ONLY- Pay down ONLY OPEN ACTIVE REVOLVING ACCOUNTS. The lower the balance the better. For simplicity pay down all charge revolving account you charge up and pay down below 10% of the limit.
  3. OPEN/ DEPOSIT MONEY ON A SECURED CREDIT CARD IF YOU DON’T HAVE ONE- Google search secured credit cards. Buy a secured credit card. Secured credit cards are a tool that can help you establish or build your credit history. Unlike prepaid cards, secured credit cards provide you with access to a credit line, and your payment activity will be reported to the major credit bureaus. Only you can build a good credit history. Make your payments on time each month, and keep your balance at approximately 10% or less of the credit limit.
  4. CALL ALL CREDITOR ASK FOR A 1 TIME EXCEPTION TO REMOVE ANY AND ALL LATE PAYMENTS ON YOUR REPORTBad credit loan applicants should call all creditors that reflect 30 60 90 day late payments and ask for a 1 time exception for removal. What do you have to lose? Calle every creditor showing any type of bad credit remarks and ask for a “1-time exception for removal”.
  5. NEGOTIATE AND OR SETTLE ALL BAD CREDIT COLLECTIONS TO ZERO BALANCE- Negotiate all past bad credit collections on your credit report other than medical bills to show a zero balance.

FHA MORTGAGE LENDERS CREDIT QUALIFYING INFORMATIONAL LINKS

 

FHA Mortgage Lenders By State: 
Florida   Texas  Georgia  Alabama  

FHA-MORTGAGE-LENDERS.COM – Specializing in FHA government mortgage solutions and delivering the most updated FHA information to the consumer. FHA-Mortgage-Lenders.com has an extensive lender network that allows us to provide flexible update FHA mortgage lenders information from portfolio FHA mortgage lenders providing a comprehensive selection of non-traditional FHA, VA, USDA, Conventional, for all including bad credit mortgage applicants.

FHA-Mortgage-Lenders.com is not a direct FHA Mortgage Lender. Information on this site Is for example purposes and should not be relied on for decision making.

About Us

We are US Mortgage Lenders. Major real estate brokerages regularly entrust their clients to our team due to our reputation for transparency, delivering on time, customer satisfaction and loyalty. With five-star customer reviews on Zillow.com and counting, you're assured of having the backing of an experienced team.
zillow-lenders
Show Buttons
Hide Buttons