Meet lenders that specialize in bad credit mortgage refinance loans with opportunities for fixed refinancing, sub-prime and FHA refinancing with bad credit. Get help finding poor credit lenders that could be a source for bankruptcy consolidation, hard money 2nd mortgages and commercial financing online. We help people find companies to aid in rebounding and rebuilding credit scores one loan at a time. Take advantage of bad credit mortgage lenders that offer new hope for struggling homeowners in search of lower mortgage payments. According to the Freddie Mac chief economists, "Theses ridiculously affordable refinance programs will not be attainable at interest rates this low for very much longer. If you are looking for a mortgage refinance with bad credit scores, BCMR can help you find non-prime lenders that offer 2nd chance loans to qualified applicants.
Bad Credit Mortgage Rates Make Refinancing Attractive
Please complete the form above and one of our team leaders will get back to you with loan program and interest rate information. The timing for a bad credit refinance could not have been any better. The Federal Reserve extended their commitment to buy poor performing mortgages by another 24 months. This has helped our lenders for bad credit because they have the confidence knowing that the secondary market is solid. Choose from multiple bad credit mortgage offers in an effort to find you a loan that will save you money with realistic affordable terms.
Interest Only Mortgage Refinance
Qualify now for an Interest Only Mortgage Loans that allow you to only pay the interest on the mortgage in monthly payments for a fixed term. These are great home mortgage refinancing options if you are looking to maximize your home financing because it increases your cash flow and reduces your liabilities monthly. This mortgage option is a great short term fix until you are able to rebuild your credit. You benefit from having to pay less each month which in turn save you hundreds of dollars during the interest only payment period. The interest only period is for 60, 84, or 120 months before converting to a loan with a principal and interest loan.
Bad Credit Home Loans
Home equity loans are different than standard home refinancing loans because they do not touch the existing 1st mortgage. In some cases, these loans are not sold to the secondary market, so our lending philosophy enables lenders to accept higher risk loans. This allows you to get approved for an equity credit line even if you have less than perfect credit. If you have good credit, you may even qualify for a no equity 2nd mortgage. These are 1st and 2nd mortgages are usually capped at 100% of your total property value. Get a Free Loan Quote now no matter how low your credit score is! ***Note that in many cases, no equity loans require good credit scores. Most home refinance loans with bad credit require some equity. Discuss your eligibility with a loan officer.
Debt Consolidation Loans
If you are a homeowner, it is very smart to pay off bills with a home equity or debt consolidation loan. With mortgage rates still be reported at affordable rates, homeowners can save thousands of dollars a year by paying off high interest debt with home equity. Many people choose a bad credit refinance mortgage for debt consolidation. Consolidate your adjustable rate obligations with an interest at a lower rate than credit card companies can offer. Interest may be tax-deductible! Please consult a tax advisor.
Jumbo Mortgage Loans
Jumbo Mortgages are home loans above the conforming limits set by Fannie Mae and Freddy Mac.
BC Mortgage Refinance offers competitive fixed rate, adjustable rate and Interest-Only loans to meet the borrower's immediate and long-term financial needs. Current limits are $417,000 for a single family, $427,150 2 family, 3 family $516,300, 4 family $641,650. B C Mortgage Refinance is capable of providing loans of up to $1 million for Primary Homes, Vacation/Second Homes and Non-Owner Occupied investment properties. Get more info on bad credit jumbo mortgages from one of our non-conforming specialists. We offer bad credit refinancing on jumbo loans up to 1,500,000.
Refinance Bad Credit Loans and Save with Better Interest Rates & Less Fees!
Bad Credit Mortgage Refinance offers mortgages with up to 100% financing of the home’s appraised value. Act now with either a first mortgage or break it up into a low-rate first mortgage with a piggyback 2nd mortgage or Home Equity Loan. Take Advantage of our expertise for mortgage refinancing with bad credit.
Fixed Rate Mortgage Loan
Fixed Rate Loan Programs: Fixed rate mortgages are available for 30, 20, 15 and even 10 years. In a fixed rate mortgage loan, the interest rate remains fixed for the entire life of the loan. The payments (amortization schedule) which remain level for the life of the loan are structured to repay the loan at the end of the term. The most popular fixed rate loans are 15 and 30 year mortgages. Compare bad credit mortgage refinance lenders now with no risk or obligation.
Lower your interest rate and start saving on your monthly payments. Compare and contrast 10-year mortgage rates, 15-year rates, 30-year fixed rate or 40-year fixed rate products are available. See lenders for terms, rates and payment examples that are applicable to your eligibility.
Hard Money 2nd Mortgage
Are you looking to re-establish your credit? Want to consolidate your bills and loans?
Now is the time to rejuvenate your credit scores and a hard money loan may be your only solution if your credit score has dropped below 500. Hard money lending is different than traditional refinancing because usually it involves a private lender because traditional mortgage lenders do not like lending to borrowers who have accumulated a lot of debt with fico scores that have dropped below the 500 threshold.
In some cases, these loans are not sold to the secondary market, so lenders can accept a higher risk. This allows you to get approved for an equity credit line even if you have less than perfect credit. Hard money lenders typically only extend credit to borrowers who have at least 30% equity left in their primary residence.
If you have credit that is poor or fair (above 500), you may even qualify for a sub-prime second mortgage. These 2nd mortgages can reach the maximum value of the house as deemed from a residential real estate appraiser. Discuss your goals with a loan officer as 2nd loan guidelines have changed drastically in recent months. After you complete the form for a mortgage quote online, one of our lending professionals will contact you to discuss your situation. ****Note that equity is required for hard money mortgages.
Adjustable Rate Loans (Arm's)
Adjustable Loan Programs (ARM): In an adjustable rate loan the interest rates and accordingly the monthly payments, fluctuate over the term of the home mortgage amortization. If you have a variable rate, consider refinancing with bad credit mortgages that includes a fixed interest rate. Periodic adjustments based on changes in a defined index are made to the mortgage rate.
Get a Free Mortgage Quote for Refinancing Your ARM
FHA Mortgage Refinance for Bad Credit
Federal Housing Administration offers mortgage loans that are insured by the FHA for 1-4 family homes. Loan limits set by the FHA vary by area. FHA Direct Loans aim to allow first time home buyers to obtain a mortgage. There are various benefits to obtaining an FHA loan, including minimums of as little as 3.5% as a down payment, a portion of which may be a gift from a relative. Compare rates and fees with this 3.5% down home loans offered by FHA.
Are you a first time home buyer with bad credit scores looking for a mortgage solution? The Federal Housing Administration has been insuring this popular loan for new home buying for many decades. As a direct-endorsed FHA lender, B C Mortgage Refinance uses common sense underwriting while following FHA guidelines to evaluate each purchase and refinance on an individual basis. Homeowners currently holding a FHA bad credit mortgage, you may qualify for an FHA Streamline refinancing, requiring only minimal paperwork.
Bad Credit Mortgage Rates! Find out how to find lower monthly mortgage payments with low credit scores with bad credit past is accepted with a good income for the FHA mortgage programs.
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Articles: How to Refinance a Mortgage with Bad Credit | How to Get a Mortgage for People with Bad Credit | How to Refinance a Home Equity Loan with Bad Credit | Disclaimers
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Use of this website constitutes acceptance of the BCMR Terms & Privacy Policies. This is not an advertisement for credit. By clicking "submit", "free mortgage quote" or "apply now" you authorize your info to be shared with 1 to 4 mortgage finance agents and other business partners and for them to contact you (including autodialing, text & pre-recorded messaging) via telephone, mobile device and email, even if your telephone number is currently listed on any state, federal or corporate Do Not Call list. Bad Credit Mortgage Refinance.net will help you find lenders for home refinancing with poor credit. We do not charge consumers for our services. All quotes are free without any obligation.
All applications are subject to an underwriting approval. Interest rates for real property financing are subject to change so connect now for today's rates and pricing for refinancing from our bad credit mortgage lenders.