How to Get Your First Home Loan with Poor Credit
Find a subprime lender for a poor-credit loan. Credit: alaska home image by Silke Wolff from Fotolia.com Step 1 Find a subprime lender. A subprime lender is a lender that offers loans to those who do not have good credit. These are not your traditional banks and lenders so the fastest and easiest way to find a subprime lender is to contact a mortgage broker or search your local phone for mortgage lenders that specialize in subprime loans. Step 2 Submit a mortgage application. Once you find a subprime lender, the next step is to apply for the mortgage. Even if you do not have a property chosen yet, you can submit a mortgage application and the subprime lender will approve you or deny you based on your personal financial information. Step 3 Submit supporting documentation. You'll need to submit copies of your last two year's tax returns, the last two month's paycheck stubs and copies of the last two month's bank and brokerage account statements. These documents along with the information you supply on the mortgage application are used by the lender to qualify you for the mortgage. About the Author Kristie Lorette is a freelance writer and marketing consultant that specializes in personal finance. She is also the editor of The Mortgage & Credit Diva, a blog devoted to mortgage and personal finance tips, tricks, and advice for consumers. You can read Kristie’s blog at www.mortgageandcreditdiva.blogspot.com or learn more about her writing and marketing services at www.studiokwriting.com. About Author Copywriter and marketing consultant, Kristie Lorette, is passionate about helping entrepreneurs and businesses create copy and marketing pieces that sizzle, motivate, and sell. It is through her over 14 years of experience working in various roles of marketing, financial services, real estate, and event planning, where Kristie developed her widespread expertise in advanced business and marketing strategies and communications. Kristie earned her BS in marketing and BS in multinational business from Florida State University, and her MBA from Nova Southeastern University. For more information, visit www.studiokwriting.com Disclaimer: Article submitters are solely responsible for the content of their articles. ArtiLib can't be held liable for the contents of the articles. Report Abuse | Browse By Category |
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