how can i get a mortgage with bad credit

It’s quite common for one spouse or partner to have a good credit score and the other to have a bad credit rating when they’re planning to apply for a mortgage. If this is the case you may want to speak with a mortgage broker who has experience with this type of situation to discuss [.]

If you and your partner are buying a house and one of you has poor credit, can you still buy? The short answer is yes.

Again, you must pay PMI until you've paid off another 15% of the mortgage, but it. mortgage; you essentially pay less to borrow than someone with bad credit.

Our advice would be to get your free annual credit reports for you and your wife (you can get those at AnnualCreditReport.com) and go to a local mortgage officer and get his/her advice on whether.

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Bad credit home loans can be tough to get. Follow our comprehensive guide to obtain a bad credit mortgage & start the path to owning your home today!

As well as looking at your credit report, lenders will usually ask you to supply several other bits of information before they agree to offer you a mortgage. They will want to see pay slips from your employer or typically three years’ accounts if you are self-employed and bank statements to see how you manage your account.

While it’s possible to take out a mortgage with as little as a 5% deposit if you have good credit, subprime lenders require 15% and upwards. You may be able to apply for one of the government’s help to buy schemes in order to put your deposit together.

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Your credit score, the number that lenders use to estimate the risk of extending you. You can be approved for a mortgage with a lower credit score if, for.. Bad credit refers to a person's poor history of paying bills on time and.

Some lenders might also consider collateral, such as a personal home that is owned free and clear of a mortgage. Leonard, Kimberlee. "How Can I Get a guaranteed small business loan With Bad Credit?