B Lending is also known as a sub-prime lending for people who have trouble getting a home mortgage because the loan request does not fit the conventional lender guidelines.
A sub-prime mortgage can offer financing with less stringent requirements to qualify. The trade off will be some
what higher interest rates and/or fees, and the maximum loan amount may be limited to a lower loan to value.
A sub-prime mortgage is usually made by a lender who allows non-conforming conditions, such as low credit scores,excessive debt,collections,bankruptcy, or even a foreclosure.
*Hard to Prove Income ~ No income documentation is required to qualify. Reasonable down payment required.
*Excessive Debt ~ Sub-prime mortgage guidelines allow for higher debt ratios, where conventional lenders would decline
a loan for too much debt.
*Derogatory Credit ~ Flexible underwriting on a sub-prime mortgage allows for a low credit scores,collection accounts, and other credit problems.
* Bankruptcy or Foreclosure. Extreme bad credit, including a bankruptcy or foreclosures,can be offset with a compensation factors like more equity and/or higher interest rate.
Whether you have perfect credit, or you have experienced some financial bumps along the way, I am certain I have the loan for you!
Call today for great rates/terms and great service!
Ellie 604-818-2581
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