Posts Tagged ‘Credit’

Subprime Mortgages- What are they?

Subprime Mortgages

It sounds terrible. Subprime Mortgage. But in reality it

has many different benefits that other loans do not.

A subprime loan typically has a higher interest rate than

other loans because the people who need it usually have a

poor credit history or very low credit score.

These high interest loans do make people pay a lot more for

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Bad Credit Mortgages- Making The Dream Of Home-ownership Come True

Bad Credit Mortgages- Making The Dream Of Home-ownership Come True

Bad Credit mortgages makes the
American dream of home ownership
a possibility even for people
with less than perfect credit
scores.  

Sub-prime loans (also called
second chance lending) are
usually granted to people
with credit scores of less
than 680.

Sub-prime loans are generally required by people who have missed
more than two payments in the last 12 months; have a judgment,
foreclosure, or eviction against them; declared bankruptcy in the
last 5 years; or have a generally defined high risk of default.

Back in the 1930s, the 30 year fixed rate mortgage was introduced
as a financial instrument.  Since then, the rate of home ownership
has doubled and two-thirds of Americans own their own homes today.  

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Shopping for your home?

Shopping for a home?

Find out the important in’s and out’s of shopping for home with this very informative video produced by HUD. It details important information that will help you when shopping for a home.


You will learn these  important points:

1. Home counseling: why it may help you
2. Expenses: determining how much house you can afford
3. Credit reports & credit score: why you should check it in advance
4. Real Estate agents:  types of agencies
5. Purchase contract: what it contains and why it is important
6. Earnest money deposits: what are they for and how you could lose it

and much, much more.

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