Bad credit home loans – is that even possible?
The answer is a resounding yes!
Financial difficulties can hit anyone and don’t necessarily mean that you are an ongoing credit risk. Losing your job, going through a divorce, high medical costs or even a lack of regular savings history can make it difficult to qualify for a regular home loan.
Non-conforming loans are designed for these sorts of circumstances and can even help you get back on your feet.
Whilst a non-conforming loan allows you to get finance with a bad credit history, interest rates can vary enormously between lenders. We’ll do all the work to find you the most suitable bad credit home loan with the most competitive interest rate so you can use your energy and time for more important things – such as finding a new job or getting your household back on track.
Credit Impaired Home Loans are generally for borrowers who may have:
- An adverse credit history
- Existing home loan arrears
- Credit card or personal loan arrears or defaults
- Self-employed or have irregular income
- Too many debts and are finding it difficult to consolidate
- Been declined by another lender
Taking out a credit impaired home loan could be your first step back to a healthy credit rating. You may even by allowed to transfer your loan to a more traditional home loan after a period of regular payments.
Let Alliance Credit find the best loan for your current financial situation and your ability to service repayments.