Low Credit Score Home Loans - loans for people with bad FICO credit scores

Whether you are refinancing, getting a second mortgage or equity home loan, always a mortgage loan with poor credit can be difficult. In the eyes of lenders, with credit problems more emphasis on other qualifying factors to determine if you get approved.

Here are some tips to help you get approved for a mortgage loan:

1 Think about how you come up with a down payment - Even a 2-3% down paymentYour ability to get approved for a mortgage or help to influence a lower interest rate on the loan. There are many creative ways to deal with a down payment. Sometimes it may be worth saving, to be added for a few months or a year to a deposit.

2 Lenders look closely at your income and work history - with bad credit, lenders are going to want to make sure that your income is more than enough to make all your minimum coverage isPayments. The longer you have in your work, the better. If you are close to a year to sign your work, you must wait a little 'more to your work before you apply for your mortgage.

3 Lenders want to see the latest debt payments made ​​on time - Even if you have had credit problems in the past, lenders look closely at your payment history over the last year or two. You are most like your car you are interested,Supply and credit card payments. If you are making payments then the lender may be willing to overlook past credit problems.

4 Try to use techniques to increase your credit score - There are many tips available online to help you with your credit score. There are 16 ways to improve your score here. You can dispute online, for free, any inaccuracies, that appear on your credit report. This can begin increasing your score, sometimes within 30 days or less.

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