Welcome to Bad Credit Mortgage Help. We are advocates for people with past credit problems and experts at helping people with imperfect credit qualify for a mortgage with reasonable terms. We offer Home Loans for people with past credit problems at the Lowest Mortgage Rates in the country. We have decades of experience with many Bad Credit Mortgage programs such as FHA Home Loans, VA Home Loans, FHA Streamline Refinances, VA Streamline Refinances, USDA Rural Housing Loans and more.
To find out what you qualify for, please fill out our inquiry form to set up a free consultation.
March, 2008 Higher Loan Limits Come With a Catch
Although FHA and "conforming" loan limits have increased in many areas with the new economic stimulus package, obtaining loans above the old limits comes with a catch- higher rates.
Lenders are offering the program, but it still isn't clear whether the increased limits will spell relief for homeowners in the form of lower comforming rates. Jumbo rates, previously anything above $417,000, are currently anywhere from .5-.75% higher than conforming rates.
The new FHA mortgage loan limit increases, part of the government's economic stimulus package, has been deemd "FHA Forward." The program will raise the maximum FHA loan amount in many areas as follows:
Maximum loan amount in low-cost areas : $271,050
Maximum loan amount for highest cost areas: $729,950
FHA Mortgage limits have officially been increased as part of the government's economic stimulus package. The increases will especially affect high-cost areas where many home owners were well above the previous FHA loan limits.
FHA remains one of the best programs for people with poor credit or a lack of credit history, and the flexible underwriting standards make it possible for many people to buy a home or refinance into a reasonable rate.
posted by RJ Baxter March 07, 2008 13:18 | permalink | comments(0) | Credit RepairFebruary, 2008 No Credit History? Try FHA!
Are you someone who doesn't like credit, never had it, and stays away from it?
This may be a great strategy if you want to stay out of debt, but if you are trying to qualify for a mortgage, it can spell trouble. Most lenders these days want to see an established credit history, and most loan programs require at least 3 credit lines that have been open for 24 months or more.
Many home owners over the past year have been hurt badly by increasing adjustable-rate mortgage payments. Some can't refinance and have no choice but to accept the higher payments or lose their home.
Well, I have good news for you. The recent rate-cutting effort by the FOMC has served to help indexes which are tied to ARM mortgages go lower too. It may be hard to believe, but upcoming rate adjustments may actually send ...
The government is set to unveil a new program designed to help all homeowners who are in trouble with their mortgage and behind on their payments.
The new plan, called Project Lifeline involves six of the largest banks in the nation and will help all home owners, not just home owners with subprime mortgages. Even people with excellent credit got into adjustable-rate mortgages or interest only mortgages and some of them are now ...
