By Carrie Reeder
People with bad credit that are looking to get a home mortgage
loan or to refinance their existing home mortgage loan, know
how difficult of a job it can be to try and get approved.
Adverse credit history can mean a little more legwork to get
approval for a mortgage loan, and especially to get a decent
Most mortgage brokers will tell you that if they canít help
you, no one can. That is simply not true. Every mortgage
or mortgage lender has access to very different lending
programs. A program that may be impossible for one broker can
be very possible for another broker. Some mortgage brokers
access to lending companies that specialize in home mortgage
loans for people with less than perfect credit that have more
lenient qualifications than other sub-prime lenders do.
The key to getting approved for a home mortgage loan with poor
or bad credit is persistence.
Apply with online mortgage brokers that will submit your
application to multiple lenders, so that you will receive at
least 4 lender offers from each application that you submit.
These companies will submit your application to usually
hundreds of mortgage lenders that can help you with a
refinance, purchase, second mortgage or home equity loan and
then remit the 4 best offers available to you. These online
mortgage broker services can help people in almost every state
from Florida to California.
The best thing about this process is that most of these
mortgage brokers wonít even pull your credit when you apply.
That means that there is no risk to you for trying it out.
Usually when you have started to work with a specific mortgage
lender, that is when they will ask if they can pull your
report. You may already know that multiple inquiries on your
credit report can drop your credit score slightly, and if you
have bad credit to begin with, you are going to want that
to be as high as possible.
Talk with many different mortgage loan brokers, if you can,
have one mortgage loan broker pull your credit and then ask
him/her what your credit score is. Then, go to all the other
lenders you want to apply with and tell them your situation,
with your credit score, income and down payment information.
Have them give you some estimates of what they can do before
they ever pull your credit.
There are many things you can do to boost your credit score,
but before you let your bad credit keep you from getting into
home, be persistent and make sure you have applied with or
talked with as many different mortgage lenders or mortgage
service companies as you can. If you can apply online, that is
a fast, easy way to apply with many mortgage lenders and get
About The Author: To view Carrie Reeder's list of most
recommended bad credit mortgage loan companies, visit this
Reeder is the owner of ABC Loan Guide. It is an informational
loan website, with informative articles and the latest finance