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Bad credit home equity loan

 

At Home Equity Credit (HEC) it's our goal to publish the latest information, articles and resources for bad credit home loan, poor credit home loan refinancing, home owner loans, home equity rates, 2nd mortgage and bad credit personal loan topics.

Bad credit is a term that is refered to a credit rating or credit score. If you have missed a credit card payment, or have debt, or unpaid bills or you have a bankruptcy your credit history file could be labeled as a bad credit risk for financial institutions. If you apply for a new loan this will affect your interest rate and sometimes it will be difficult to arrange the loan at all.

Bad credit home loan is a mortgage loan with a bad credit history, thus, the loan has higher interest rates (more commonly referred as APR - annual percentage rate) and usually also other fees. The better credit score you have, the better interest rates the lender will offer you as a good credit score decreases financial institution's risk.

Financial institutions, including banks do want to earn your business and will offer bad credit home loan raising interest rate (APR) - eventually, bad credit history or score doesn't 100% mean you could not apply for a mortgage loan. Looking for a great explanation on how to choose a lender?

 

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Bad credit home loans

Bad credit home loans are reality for many folks who want to buy a house, but have a bad credit score problems. Many banks and financial institutions work with bad credit borrowers and offer higher rates. They even offer complete refinancing packages and deals that sometimes offer better rates than your current home loan equity. Continue reading about bad credit home loans..

Bad Credit Mortgage Refinancing - Refinance and Improve Credit

Many homeowners have a goal of improving their credit. Despite efforts to maintain a good credit rating, situations arise that can have a damaging affect on our credit. A common problem involves acquiring too much debt. In this case, some homeowners are unable to keep up with minimum monthly payments. Skipping or submitting payments late will reduce your overall credit rating. Fortunately, there are options for improving credit. Read full article..

Home Refinancing Rates - When is It Worth It to Refinance?

When interest rates were two points below your current mortgage rate, it was considered a good rule of thumb to refinance. But with today’s low closing costs, a difference of one percent can save you money on your interest costs. Even with low fees, it only worth it to refinance when you can be sure you can recoup the mortgage costs. Read full article..


 
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