First Christian Financial
Real estate & Home Loans
 Ph: 800-696-6383
Matthew 10: 32-33
222 N.Mountain # 201 A.
Upland Ca, 91786 |
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Bad Credit
Mortgages and Bad Credit
Specializing in Bad Credit Mortgages...
Because Life Doesn’t Always Turn Out Like you Planned
Life happens. And when it does your credit can sometimes suffer. A sick child, a few late bills, or an unexpected expense can easily get you off track. We understand. That’s why we specialize in bad credit home loans. Just because your credit isn’t perfect doesn’t mean you should miss out on the opportunities available to everyone else.
Bad Credit Mortgages offer Relief
Yes, you can get relief from high mortgage and interest payments with bad credit mortgages, but you can also get much more.
• Bad credit mortgages give you the chance to clean up your credit.
• Consolidate all your bills into one, low monthly payment with ad credit home loans.
• Get relief from the harassing calls of creditors.
• Bad credit mortgages provide a way to live your life without worrying about every penny you spend.
• Need extra cash? Bad credit home loans give you what you need for home improvements, back child support, late payments, or a much needed vacation.
• Bad credit home loans can even give you the leverage you need to avoid bankruptcy.
• And so much more!
Take a moment right now to complete our FREE Easy firstchristianfinancial.com
Bad Credit Home Loans with a Difference
Unlike most other companies who offer bad credit home loans, we have a personal interest in your success. That’s why you’ll notice:
• A higher level of customer service
• Flexible guidelines
• Over 100 different programs to choose from
• Convenient online applications
• Quick closings, and
• No up-front costs to you.
It’s our mission to exceed your expectations, and deliver the help you need to get back on track
Applying for Bad Credit Mortgages is Simple
Take a few minutes to complete our online application. We’ll process your information and notify you immediately of the status. You’ll soon be on your way to more peaceful-and more financially secure-immediately of the status. You’ll soon be on your way to a more peaceful – and more financially secure-life! Don’t hesitate…apply now!
We offer these Mortgage Programs in every state.
I want to improve my credit scores:
If you have a low credit score, thus bad credit because of lack of credit, apply for credit with a local business, such as a department store or a local band or credit union. These local merchants may have lower credit standards than larger lenders. Before you apply for credit, make sure the credit grantor reports credit history information to one of the major U.S. credit bureaus so you can build your history.
Other options if you are having difficulty opening a credit account include asking a friend or family member to cosign your loan or credit card application or obtaining a secured card, which is guaranteed by a deposit you make with the card issuer.
Pay your bills on time:
Mortgage lenders always look for indication that the prospective borrower is a good credit risk: a person who will pay back his or her debts in a timely fashion. Obviously, a history of on-time payments demonstrated that you are just such a person.
But that doesn’t mean your credit history must be perfect for you to qualify for a mortgage home loan; few people’s do! Bad credit with late payments can be changed overtime. Make an effort to pay all bills on time. You do not want any payments to arrive over 30 days past the due date, as this will be reported as a 30 day late. The more late payments the lower your credit score witch equals to bad credit. Also, the later the payment arrives, the more damage can be done as they also report late payments as 60, 90 and 120 days late. If you happen to miss a payment, make sure to send it in, before it reaches 60 days late, as this can be more harmful and cause the bad credit rating.
How much debt do you have?
One factor any mortgage lender must assess before offering a mortgage approval is the total debt of the person applying. If a large portion of our income each month is already committed to paying off other debt. The mortgage lender will wonder if you may have trouble paying back an additional loan. This is referred to as your debt to income ratios.
As a rule of thumb, mortgage lenders say that non-mortgage debt payments should not exceed 10-15% of your take home pay each month. If your debts are currently too high, consider ways to pay some down before you apply for a new mortgage.
If you have bad credit, due to too much debt, one option is to do a mortgage loan debt consolidation loan. Oftentimes, you can drastically lower your monthly payments, thus enabling you to make on-time monthly payment. Over time, this will increase your credit rating and credit scores.
Avoid unnecessary inquiries:
Whenever you authorize a mortgage lender, creditor, employer, or other business to check your credit report, and “inquiry” is added to the report itself-a note that someone has checked your credit. (Checking your own credit report, however, does not lodge an inquiry.) An inquiry usually stays in your credit report for two years.
A lender considering you for a loan will look at the number of inquires recorded there and when they took place. A large number of inquires occurring in a short period of time may be interpreted as a sign that you are either:
• Applying for lots of credit because of financial difficulty.
• Overextending yourself by taking on more debt than you can actually repay.
Therefore, it’s always a good idea to minimize inquiries into your credit report. If you’re shopping around for mortgage lenders who do bad credit mortgages, don’t let every lender you consider run a credit check. You might have to settle for slightly more approximate estimates on what the mortgage lenders can offer you, since they can’t verify your credit history. Explain in detail to them what bad credit is on your credit report and they can give you a good estimate. But that’s still better than doing all that shopping around only to find that the mortgage lender of your choice now perceives you as a less solid credit risk and wants to charge a higher interest rate. Too man inquired can decrease your credit scores. However, do not panic, as it is normal to have a few inquires every few months and this in ok.
What information does a credit report contain?
A consumer credit report contains four types of information: identifying information, credit information, public record information, and inquiries.
Identifying information includes:
• Your name
• Your current and previous addresses
• Your Social Security number
• Your rear of birth
• Your current and previous employers
• If you’re married, your spouse’s name
Good and bad credit information includes credit accounts or loans you have with:
• Banks
• Retailers
• Credit card issuers
• Mortgage lenders
• Other lenders
Public records information includes any information that’s contained in state and county court records, like:
• Bankruptcies
• Tax liens
• Monetary judgments
Inquiries indicate to other credit grantors that you have applied for new credit that could result in additional debt. Potential lenders view multiple recent inquiries on your credit report as a sign that you are overextending yourself.
These are some of the basic rules, to improve bad credit as it relates to credit reports and credit scores.
When applying for a mortgage home loan with bad credit, MAKE SURE you find a mortgage lender who can approve you even with bad credit. REMEMBER, bad credit does not mean you do not qualify for a mortgage home loan. You will probably pay a higher interest rate, but if you work on cleaning up your credit, in the future you will be able to obtain lower interest rated. A good rule of thumb is: the lower your credit score, the higher the interest rate you will have to pay.
Get your credit report NOW!
You have a copy of your credit report. Now what?
Read it carefully! If there are any disputes or inaccuracies, contact the credit bureau right away. Do this in writing. Also, if the same dispute is on more than one credit report, you need to contact each one. If bad credit is reported inaccurately, get it removed. This is very important.
To dispute inaccurate information on your Experian, Trans Union, Equifax credit report, write to the bureau that supplied the information. In your letter be sure to include:
• Your full name, first, middle and last and including any applicable suffixes (Jr., Sr., ll, etc.)
• Your complete mailing address
• Your date of birth
• Your Social Security number ( this is necessary to access your credit report )
• The name and account number of the creditor and item in question
• The specific reason for your disagreement with the disputed item
• Request an updated credit report
• Your signature
Once you fill all the information obtained within your credit report is accurate, as you see there are several things you can do to improve your credit report and credit scores.
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