Jump to content

Who's The Best Subprime Lender?


beatboy77
 Share

Recommended Posts

There are plenty of subprime lenders as to speak.

Your best option is to go through a mortgage broker

You may contact Charles at 801.942.2918 with your situation.

www.bestmortgageinfo.com

What is current FICO score? You probably want to be in 610-620 range good options. Higher the score the better and remember income will play an important role too. I am ont sure how BK will play all into this.

Link to comment
Share on other sites

You would definately need to talk to a broker, especially with a bk so young. You could email or PM Charles and he will be able to give you more info. In terms of FICO scores, you will want your mid score to be 620 or higher. Also, do you have money for a downpayment? The more you have for a downpayment, the better off you will be.

Good luck.

paw67

Link to comment
Share on other sites

The best subprime lender will loan to 100% financing at 600 credit scores, 1 day after bankruptcy discharge. Right now the par interest rate is 6 5/8% for a thirty year FIXED RATE on the first mortgage, and the second mortgage is around 11 or 12% on the second mortgage.

All that is needed is three tradelines in the credit history that were paid off satisfactorily, or paying satifactorily, one being open for 24 months, and the other two at least 6 months. This does not mean current accounts, as long as they are contained in the credit history on one of the three credit reports.

There are several other alternative sources for less than 1 year discharge, but almost all will require 5% down payment.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.