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 Damaged Credit: Sub Prime Loans
Consider a sub prime loan for several reasons, in a purchase transaction most borrowers can get into the home they want at today's price.
Once in the home a borrower now has an opportunity to clean up their credit, reestablish new credit and ultimately refinance into a
lower rate at a later time. If the borrower already has a mortgage, a refinance to cash out equity to pay down higher rate credit cards,
bankruptcy's, foreclosures or collections and liens is a great way to clean up a troubled credit history, save money each month and get back on your feet.
If your credit is truly damaged or less than perfect, you may need a "Subprime" loan. These sub prime loans may have higher interest rates, but they can often get you approved when no one else can.
Click here if you've been turned down by another lender
Click here if you have good credit.
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