Bad Credit Home Mortgage

Jan, Mission Viejo, CA

\"Thank you for helping us buy a home! We went through some financial hardships when my husband lost his job and our credit scores took a hit. We were turned down by our Bank but Smita was able to buy our home...\"

Adam, Sacramento, CA

\"We were referred to Smita by some friends and we are happy with our loan. We really did not have any problems getting a loan, our credit score was good and we have good income, we had a bad experience with the bank last time so wanted to try a mortgage broker. I am glad we did!\"

Arthur, San Diego, CA

\"When the economy tanked we were hit pretty badly. We wanted to buy a home and were turned down by our Bank even with the long history we had with them! I came across this site and decided to give them a call - I am glad I did! We moved into our new home last week and are very happy!\"

Margie, Los Angeles, CA

\"I am a single parent, and wanted to buy a home. The bank turned me down because my tax returns did not show enough income as I am self employed and write off whatever I can to reduce taxes. I was referred to Smita by my girlfriend. I was able to use my bank statements to show income and get approved for a home loan! It was great working with Smita!\"

Bad credit home mortgage loans are not difficult to get if you work with an experienced and knowledgeable mortgage professional. Although the sub-prime mortgage collapse in the USA a few years ago has left lenders nervous of debtors with bad credit, it is still possible to secure an adverse credit mortgage. Bottom line, you can get a mortgage to buy a home! Lenders just have to be sure you can afford a mortgage. There are many lenders for people with bad credit.

Buy A House In California With Bad Credit

Mortgage Rates – with a FICO of 550, 3.5% down-payment can be as low as 2.75% (3.0% APR)*

Lenders use your credit score as a guideline to assess how responsible you are with regard to your finances. In essence they want to determine if you are someone who fulfills your payment responsibilities. But, Lenders also understand that the FICO does not tell the full story. For instance if you were suffered a financial hardship that was beyond your control, they will take that into account. The government also understands this and has a government loan program that can be utilized by people in these types of situations. The Bad Credit FHA Mortgage has a minimum required FICO of 550.

Mortgages For The Self Employed

Another group of people who have had a hard time obtaining financing are the self employed It is a fact that self employed write of expenses to reduce taxable income. Until recently Lenders would only look at the income tax returns to determine income. So self employed people looking for a mortgage were at a big disadvantage. That is no longer the case, we have many Lenders who will use deposits on bank statements to determine income. So if you are self employed and are looking for a mortgage, we can help you.

Mortgage After Bankruptcy

If you have a bankruptcy or foreclosure on your credit report, it can be very hard to find financing to purchase a home. Most lenders require a waiting period of 3 to 4 years after a bankruptcy.

We can provide home financing that require less stringent conditions. Depending on your circumstances, we can finance almost immediately after a bankruptcy discharge. Call us for more information.

Asset Based Lending

Hard Money Lenders will lend using the property as collateral (an equity based home loan), as the price of homes is inching upwards, it means that Lenders have less risk now than when the price of real estate was falling. So whether you have good credit or bad, if you default on any home mortgage payment, the Lender will foreclose and take your home. A lot of people did lose their homes during the economic downturn because they defaulted!

Find Out How You Can Qualify For A Home Loan – Call Us (949) 313-7333

Subprime mortgages are still around, they just have a new name – bad credit home mortgage. Another fact to be aware of is that as your credit score is not within “normal” range usually 600 and up, the lender will see you as a higher risk borrower so the interest rate they offer you will be slightly higher. Although this sounds bad, keep in mind that you are not required to keep this loan until it is paid off, you can always refinance into a lower rate home loan once your credit improves. The strategy behind getting this loan should be for short term financing to enable you to buy a property with a view to refinancing to a lower rate mortgage as soon as you meet the criteria. So there are benefits of getting a bad or poor credit home loan.

Banks do not lend to people with bad credit, it is usually the private lenders that do! As they are private there is wide variety of loan products available all with differing terms and conditions. Now you could do the shopping and comparing yourself or you can get some help. We have established relationships with a wide variety of lenders and know about their loan products. We would be happy to go through all the different options available to you based on your specific situation.

Depending on your age you will probably be offered options on the repayment period. Note that the shorter the repayment period is, then the sooner your debt will be paid, and the less interest you will pay on it. However, your repayments will also be higher! You should never agree to repay more than you can comfortably afford.  Thinking that you will be able to afford a higher payment if this happens or that happens is how people lose their homes. Look at the home buying process as a major decision that will affect your life and not with rose colored glasses.

We Have Many Mortgage Loan Options Available – Call Us For More Information. (949) 313-7333

We will look at your financial situation and go through different loan options. We have a Certified Public Accountant (CPA) on staff who will look at your previous income tax returns and give you a scenario of what changes to expect in your tax situation. This service is free of charge to all our clients.

We may be able to help you with the down payment. We may be able to qualify you for a HUD grant, which is a grant set up the government to help people with funds for the required down-payment for a government insured loan such as the FHA home loan. These grants are not required to be paid back. There are qualifying criteria.


Many lenders do not charge a prepayment penalty but some still do. When doing your research please make sure you look into this as this can affect your ability to refinance into a lower rate loan.

One of the things that Lenders now require is a down-payment, gone are the days when you could get a 100% home loan! On average Lenders now require at least 10% – 30% down on a bad credit home mortgage, however we have been able to get people approved with less, please give us a call at (949) 313-7333 so we can advise you based on your specific situation.

Even if you have a foreclosure, bankruptcy or short sale on your credit report, you can still get financing to buy a home. In recent months, it has also become easier for self-employed people to get financing without being penalized with a significantly high interest rate. If you have a credit score of at least 550 you could qualify for a home loan with 0.5% down-payment and still get a low mortgage interest rate! Loan product qualification criteria change often, so to find out the current information and mortgage interest rates, we advise you to call us – it is free!

Qualify For A Home Mortgage – Call Us Now at (949) 313-7333 - You Have Options!

* Not an offer for financing. This is an example only. Final approval for a loan and applicable loan terms based on Underwriting review after submission of loan application with accompanying disclosures and documentation.