help expand the availability of home
finance to borrowers with past credit problems. These
loans used to be referred to as Subprime loans. Subprime
lenders graded a borrower's credit history on the basis
of recent late payments, bankruptcies and/or other
credit problems. The terms of the loans they offered were
based on the borrower's credit grade: the lower the grade,
the higher the rate and the lower the maximum loan-to-value.
Although these loan programs were sometimes referred
to as "bad credit loans" within
the mortgage industry, we prefer "credit-challenged" or "less-than-perfect
credit" because we understand how easily unexpected difficulties can overwhelm
even the most financially responsible people. Over the years, we have helped
many borrowers with past credit problems get the financing they need to buy
a home and start rebuilding their credit.
Although subprime loans are now almost a thing of the past, there are still ways to help credit challenged borrowers “re-establish good credit so they can enjoy the financial benefits. If you are having difficulty getting a home loan because of
past credit problems, contact me. We will be happy to review your credit history
and discuss your home finance options with you.
For help with a credit challenged loan, submit
, or call us at 540-444-0577.