But there's one substantial caveat: Typically, mortgages for
people with a lower credit score do come with a higher mortgage rate.
But there's one substantial caveat: Typically, mortgages for
people with a lower credit score do come with a higher mortgage rate.
Not exact matches
FHA loans are government - insured mortgages that make sense for
people with lower credit scores and smaller down payments, but they often don't let you borrow as much as conventional home loans.
Many lending institutions
do not solely rely on
credit score, paying more attention to other criteria, and thus being able to finance
people with low credit scores.
But this doesn't mean that
people with lower scores will be left out on the basis of
credit scores alone.
FHA loans are government - insured mortgages that make sense for
people with lower credit scores and smaller down payments, but they often don't let you borrow as much as conventional home loans.
Do you know any loan companies that will fund loans for
people with low credit scores?
While it
does pay a
lower cashback rate than some other cards in this guide, for
people with less than sterling
credit scores, it could be a winner.
Banks and
credit unions
do not lend to
people with low scores because the risk of defaulting is very high among them.
While One Main Financial may not have the best personal loans for everyone, they
do offer beneficial solutions to
people with a
lower income or
lower credit score who may not be eligible for loans through other lenders.
It is always a good idea to talk to a couple lenders before deciding which one to go
with but don't let too many
people run your
credit as this will affect your
score (usually no more than 3 lenders and even that will
lower your
score a little).