Bad Credit Home Equity Loans
Home equity loans use your home as the collateral for your debt.
Because the home must have sufficient value to cover the
mortgage it may easier for a person with sub par credit to
qualify for a bad credit home equity loan.
Top Recommended Companies To Refinance With:
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- Competitive rates and no hidden fees
- Bad Credit OK
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- One dedicated mortgage banker from first call to closing
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If you are looking for a mortgage loan but have "less than perfect credit" this company has options for people with credit problems. Complete a short form and get one dedicated mortgage banker from first call to closing with a simple, straightforward process.
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Another Great "bad-credit" Mortgage Company! QuickenLoans is also a competitive mortgage company for people with all types of credit including poor credit. Refinance or get new mortgage offers from this reputable Web based mortgage lender.
What to expect – A bad credit home equity loan will
generally have an interest rate at least two points higher than
a conventional home equity loan. Other additional fees may be
required for a person with bad credit. You may also be required
to pay off some bills with the money you receive from your home
Ask questions – People with bad credit are sometimes
intimidated by lenders. In the mortgage industry many lenders
make more money off of the bad credit loans they make than off
of the loans they make to people with excellent credit. An
honest lender is entitled to make additional money for taking on
additional risk. However, don't be taken advantage of by a
predatory lender. Some unscrupulous bad credit home equity loan
companies will pile on unnecessary fees and penalties. Look at
each item on your loan proposal and ask about anything that
seems out of line.