Any Question Regarding Mortgage Refinance Bad Credit?

You can refinance your mortgage with bad credit to:

  • Reduce monthly payments
  • Get lower rates of interest
  • Shift from an ARM to FRM
  • Pay-off multiple credit debts
  • Obtain a new longer loan term

By refinancing home loan online, you can get access to lower interest, shorter or longer duration (as per your choice) as well as reduce monthly mortgage payments drastically to save money. Know More..

Refinancing your home loan can be a sensible decision when:

  • Mortgage interest rates plummet
  • Home values have appreciated greatly
  • You want to shorten the overall loan repayment term

Yes, it is perfectly possible to convert home equity into vital cash. There may be number of options available for tapping home equity. Just talk to a mortgage specialist today.

Prior to exploring various alternatives for getting your home loan refinanced to a lower interest rate, you must have some understanding of the loan types. The most popular programs are:

  • FHA mortgages
  • Conventional mortgages
  • VA mortgages

Some of the best mortgage refinance bad credit programs are being made available to first time homebuyers these days. You can inquire regarding these with various top lenders in your local area.

Closing costs refer to the fees charged by lenders at the time of completion of the loan. Loan dealers are required to provide an estimate of these charges within 3 days of receipt of application.

Qualification criteria may vary from lender to lender. To that effect, once you have chosen a lender, you need to ask about basic approval requirements about income, DTI ratio, employment, debts and assets.

Most of the lenders will require applicants to give valid proof for having regular, stable and sufficient income in the form of copies of recent paystubs, latest bank statements, last 3 years’ income tax returns and W-2 forms (if self-employed).

The status of your credit profile reflects of your financial behaviour and the manner in which you handled debts previously. Lenders use this information for assessing risks of lending money and accordingly, calculate interest rates. Click Here to Read More

Mortgage instalments are an integration of monthly principal loan dues, interests as well as escrow charges. The popular term P.I.T.I (Principle, Interest, and Taxes, Insurance) is used for the purpose.

A mortgage loan pre-qualification implies lender representative’s judgement regarding your ability to repay the loan on time based on the verbal information that you give pertaining to your income, employment history and asset details. On the other hand, a mortgage loan pre-approval refers to conditional qualification based on underwriting guidelines. Lender has reserves the right to review your application after verifying income, asset and employment documentation as well as running credit checks on applicants, appraisals and several other allied factors.

No. There are no fees charged for filling and submitting an online mortgage loan application. Apply Here

How it works

Connect With Us