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Title:100% Financing - No Down Payment Home Loans For People With Bad Credit OrPast BankruptcyWord Count:310Summary:Whats ...
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100__Financing_-_No_Down_Payment_Home_Loans_For_People_With_Bad_Credit_Or_Past_Bankruptcy

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100__Financing_-_No_Down_Payment_Home_Loans_For_People_With_Bad_Credit_Or_Past_Bankruptcy

  1. 1. Title:100% Financing - No Down Payment Home Loans For People With Bad Credit OrPast BankruptcyWord Count:310Summary:Whats Going to Help You Get Approved? - To get 100% financing on yourmortgage, that means that you have no down payment, which puts more emphasis onthe other factors going toward your mortgage loan. For example, you will need to bestronger in the areas like income, employment, recent payment history, lowdebt-to-income ratios. If you can strengthen some of these factors you will have abetter chance of getting approved. If you can find a home with a low loan-to-valuerate...Keywords:mortgage loan, 100% financing, bad credit, bankruptcyArticle Body:Whats Going to Help You Get Approved? - To get 100% financing on yourmortgage, that means that you have no down payment, which puts more emphasis onthe other factors going toward your mortgage loan. For example, you will need to bestronger in the areas like income, employment, recent payment history, lowdebt-to-income ratios. If you can strengthen some of these factors you will have abetter chance of getting approved. If you can find a home with a low loan-to-valuerate, that may also help your chances of getting approved. Search around. Try to finda home that is being sold for much less than the appraised value.Whats Going to Hurt You? - A super recent bankruptcy or foreclosure. Although it isnot impossible to get financing under these circumstances, it makes it more likely thatyou will need some kind of a down payment.Watch Out For Sub-prime Mortgage Scams - Borrowers with poor credit are often thetarget of inflated interest rates and excessive fees. With adverse credit history, youcan expect to pay a slightly higher interest rate, but make sure you compare at least2-3 other loan offers to be sure that your interest rate is competitive.What About After Bankruptcy Mortgages? - You can expect to wait 2-3 years afterthe bankruptcy discharge date before mortgage lenders will be completely open toworking with you. However, its not impossible to get approved for a mortgage loanbefore that time, you just may need a small down payment.Beware of the Pre-Payment Penalty - Mortgage lenders lending to people with badcredit usually tack on a pre-payment penalty to the borrowers mortgage loan. If youare ok with a pre-payment penalty, make sure it is for a reasonable length of time,maybe 6 mo. to a year. You dont want to lock yourself in to higher interest rates forvery long.100% mortgages

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