New Options Americans Seeking House Loans with Poor Credit
After a few recessions and a near collapse of the mortgage industry, home sales in the U.S. are back on track and the demand for home purchase loans is soaring again. With interest rates near record lows and banks’ lending again, now is a great time to review the opportunities for home buying loan programs, even if you have fico scores below average.
- Learn How to Buy a Home that Meets Your Budget
- Shop Terms with Local Lenders for Home Purchase Mortgages
- Find Out What Your Need to Qualify for Bad Credit House Loans
We are pleased to report that several lenders have rolled out home financing initiatives to help first time home buyers and consumers that need home loans for people with poor credit scores. Up until recently, it was tough to find companies that were approving bad credit house loans. Today we are able to connect applicants with lenders and brokers that provide subprime, VA and FHA loan programs for people with credit ratings between 500 – 640.
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Home Buying versus Renting: There is nothing wrong with renting if you are doing so for a specific reason like needing the flexibility to move quickly because of a job offer. However many people rent, because they do not realize the benefits of homeownership. Many people rent because they were turned down at one point from a bank that did not offer poor credit house loans. Whatever the reasons may be, it is important to examine your options for becoming a homeowner every so often
The Department of Housing and Urban Development reminds us that buying real estate and owning a home should be viewed as an investment, rather than just a housing expense. Renters typically make their rent payment each month without any regard for investing in their future. But when you own your home, you can deduct the home loan interest from your federal income taxes and in most cases with your state as well. For many Americans this helps reduce their tax burden. Renters are unable to build equity in their home, while homeowners reap the benefits of a housing market that appreciates over time.
Please take a minute and complete our "loan request" form so that you can shop the best companies offering house loans with bad credit. Remember, our service is free and you have nothing to lose, because there is no obligation.