| If you were one of the fortunate ones to get a | | | | for financing options and many home owners looking |
| mortgage done during the subprime days when | | | | to refinance their home. Luckily, a FHA loan is the |
| anyone with a credit card could qualify... well hopefully | | | | answer. |
| you did not foreclose! For those of us who do not | | | | So what is the best way to obtain one of these loans |
| have excellent credit and are looking for a mortgage in | | | | for people without perfect credit? Go to a FHA lender. |
| today's market, options may seem dim. However, the | | | | There are many mortgage brokers that are offering |
| best way to get a bad credit home loan mortgage is | | | | FHA loans. Obviously you should shop around making |
| actually through the government. | | | | sure you are getting the best pricing but for people |
| During the subprime mortgage days, all mortgage | | | | without good credit, the FHA loan is the best solution. |
| lenders were willing to take the risk and give | | | | This type of loan is actually insured by the government. |
| borrowers with subpar credit loans. This meant if you | | | | This means the government is willing to take the risk to |
| had a 500 FICO score then YES you qualify for a | | | | allow potential borrowers to be able to refinance their |
| home loan. But as you are all aware, all of those | | | | mortgage or purchase a new house. Well finally the |
| subprime lenders have now gone out of a business for | | | | government got something right! So now you can be |
| these risky endeavors. So now where does that put | | | | on your way to getting a bad credit mortgage! |
| you? There are many potential home buyers looking | | | | |