Bad Credit Refinance Lenders
We recommend refinance lenders that provide:
• Up To 4 Competing Offers
• Some of the Lowest Interest Rates Available
• Quick Applications
• Safe, Secure Applications
When refinancing your home with bad credit, one of the biggest factors in your approval and determining your interest rate, will be how much equity you have in your home. If you are refinancing your home for only 95% of your homes value or less, that can be much easier to get an approval for and a lower interest rate with better terms.
When you are refinancing your loan for 100% or more than the value of your home, this will put more emphasis on your credit score and your credit history. Mortgage lenders will look closely at your history of mortgage payments and recent payment history on all of your bills.
Consider Paying Down Some of The Debt On Your Home - If you can pay down some of the debt on your home as you refinance, the lender may be more willing to approve your loan and offer you a lower interest rate.
Watch For Subprime Lenders - Beware of Unethical Lending Practices - Subprime borrowers, whether they are refinancing, getting a home equity loan or buying a new home, are at risk for mortgage brokers to take advantage of their “less than perfect credit” situation. Subprime mortgage brokers can sometimes overcharge the borrower with fees, try to squeeze the borrower into a home he/she can’t afford or ask the borrower to falsify information on their credit application. Watch for red flags that your broker may not be working with your best interests in mind.
