How to get a home loan with Bad Credit You're all excited at the prospect of getting your home loan, and the broker submits the loan application on your behalf. You are waiting for the application to be processed, with great anticipation. Finally the phone call comes, and your heart sinks. DECLINED! It happens all the time to many people, however if you have bad credit and you're dealing with banks, you're going to get rejection. The really good [...]
You can still get a Home Loan with Non Standard Income / Employment Despite a changing workforce with a diversity of employment types, banks are still very conservative. Lending polices are increasingly tougher and this is making it more difficult than ever to obtain a home loan. Traditionally, banks saw individuals that worked a 9-5 job in a high demand industry as low risk borrowers, however the work force is changing at a rapid pace. Some of the highest [...]
Can I get a Home Loan while on Probation? Probation home loans are required as it is now more common within many public and private employment sectors for new Employees to be on a Probation Period. It allows your employer to review your performance within a company before rewarding you with a full time position. Equally, you can also assess whether or not you like your new job before making a commitment under contract. There are many advantageous aspects [...]
Private Lenders in Australia Commercial private lenders can provide solutions for the potential commercial real estate buyer who might have a less-than-perfect credit score or unable to qualify their income to put toward a parcel of real estate. These are usually the borrowers who have been turned down by the banks and other lending institutions. Wikipedia describes commercial private money as "...the reverse side of hard money lending." Some commercial private lenders describe themselves as being the solution for [...]
Home Loans for Bad Credit in Australia All of those negative messages you hear about home loans for Bad Credit! I'm talking here about how it is commonly believed that if you have bad credit it's virtually impossible to get a home loan, and if you do happen to get a home loan, then the interest rate will be so high it will be a feat in itself just meeting the repayments. In Australia, every Tom, Dick and Harry [...]
Choose the right Mortgage Broker if you have Bad Credit Been driving around your city recently? If so, you've probably seen the dozens of mobile mortgage brokers that are out there, busily rushing from meeting to meeting with prospective home buyers. Just recently when I was on the road, I spotted five in just ten minutes, and they were the marked cars! There are many more unmarked ones on the road on any given day, so you can tell [...]
Can I get a Home Loan with Bad Credit? Bad Credit Home Loans are for applicants that have defaults, repossessions, judgement's, discharged bankruptcy...forget everything the media, the big banks and the majority of mortgage brokers have ever told you about these financial issues and mortgages! I guarantee what you have heard is negative, and enough to drive a person with bad credit to "Despondency Central"! The great news is that it's all wrong! Completely false! There is hope for [...]
Are there Lenders that don't require Genuine Savings? During the global financial crisis, banks in Australia tightened up their lending policy with most requiring a 15% deposit minimum before they would lend. The deposit of 5% needed to come from a genuine savings source - that is, saved up or held in a bank account for 3 months minimum before the bank would lend. Recently though, policy has started to relax and home loans with lenders that don't require [...]
Mortgage Arrears are not to be Ignored Unlike many other things in life, if you ignore your mortgage arrears they will not go away. Mortgage arrears if the worst does happen could result in foreclosure by your lender and the loss of your home. However if the worst does not happen, your mortgage arrears could still do a lot of damage to your credit history and your ability to borrow in the future. If you are experiencing a problem [...]
Can you Get a Mortgage with Bad Credit? Buying a Home is now simple for Applicants with Bad Credit as now we have Bad Credit Mortgages. Use these simple steps to qualify for Bad Credit Mortgages. Get yourself a free copy of your credit report. If you have been declined from your bank for your credit history or credit score it is important to get a copy of your credit report. You can obtain a copy of your report [...]