Bad Credit Mortgages - Getting Around Poor Credit
Buying a Rochester Home With Bad Credit
Contrary to popular belief, buying a home in Rochester, MN is still an attainable goal even for potential buyers with bad credit. In just about every industry, obtaining a loan with less-than-perfect credit is certainly possible, and that of course includes the real estate industry. And although there may be more hurdles we have to climb over i order to get you the financing you need, The Kris Lindahl Team with Kris Lindahl Real Estate is the perfect partner to have if you’re someone who needs help getting a mortgage with bad credit.
So just what is a bad credit mortgage?
Simply put, a bad credit mortgage is a sub-prime loan that is considered high-risk for lenders. Typically, bad-credit mortgages carry a slightly higher interest rate than a typical mortgage loan to a borrower with a higher credit score. But with our relationship with lenders who are specifically qualified to work with buyers with bad credit, we’re confident we can help get you the best rate possible.
Are You a Rochester Home Buyer With Bad Credit?
If you’re wondering if you may be a candidate for a bad credit mortgage and are also in the market for a new home in Rochester, MN, here’s a quick rundown of who might qualify:
-Rochester home buyers with a 620 or lower credit score
-Rochester home buyers who have filed bankruptcy within the past 24 months
-Rochester home buyers who have had a home or property go through foreclosure in the past 24 months.
-Rochester home buyers with a high debt-to-income ratio
Interested in learning more? Contact The Kris Lindahl Team to receive more information about bad credit mortgages.