Bad Credit Mortgages

Less-Than-Perfect Credit? Bad Credit?
You Could Still Be Eligible For Financing…

Bad credit doesn’t have to stop you from accessing mortgage financing through a reputable mortgage lender.

We know that good people can have bad credit. And we also believe that bad credit should not keep you from accessing mortgage financing, whether you need funds for consolidating debt, saving your home with a foreclosure loan, taking advantage of lower rates with refinancing, cashing out of your current home equity, or purchasing a home.

North Country Mortgage is a leading mortgage lender specializing in bad credit mortgages. No matter how bad you think your credit rating is, you may still qualify. Even if you have bankruptcy, charge-offs, collections, or tax liens on your credit report.

Do you qualify for a bad credit mortgage?

Straight Talk from a Bad Credit Mortgage Lender
When your credit rating isn’t so good, it’s especially important to make informed choices, to prevent circumstances from getting worse. Many online mortgage services match you with loans and lenders that may not be the best for your situation. When you work one-on-one with a reputable mortgage lender like NCMB, your loan advisor can offer the best loan for you.

NCMB is a dedicated mortgage lender, and we offer a full range of mortgage products to borrowers with good credit and bad credit. So when you work directly with us, you eliminate mortgage brokers’ fees and access the best mortgage rates for your situation.

And best of all, you can count on us for straight talk about mortgages.

Find out how to get mortgage financing even if you have bad credit. It’s easy to get the answers you need – call 1-800-626-2585 x 112 to talk to a loan advisor today or submit a simple online bad credit mortgage inquiry form. We help people in your situation every day, and we can help you, too.

Do you qualify for a bad credit mortgage?

Basic Bad Credit Mortgage Requirements
You will need to meet a few simple requirements, such as a certain minimum credit score, be employed, and have sufficient income and assets. Certain types of mortgage loans may require a down payment. Bad credit mortgages often have higher interest rates than most current mortgage loan rates.

Your Credit Rating
In general, people with less than perfect credit or bad credit usually are eligible for up to only 80% mortgage financing. The 80% mortgage financing is based on the appraised value or purchase price, whichever is less. This means the borrower will have to come up with a 20% down payment or have 20% equity, if refinancing.

Income Requirements
Typically, the D.T.I. (debt-to-income ratio) for people with less than perfect credit is 45%-50%. This means your monthly minimum debt payments divided by monthly gross income is 45%-50%. The standard ratio for an A credit borrower is 36%.

Depending on the extent of credit problems, borrowers with less-than-perfect or bad credit can expect to pay higher than market interest rates for their mortgage home loan.

But with help direct from a lender specializing in bad credit mortgage loans, you are one step closer to the most favorable bad credit mortgage loan for you.

To find out more about whether you can qualify for a bad credit mortgage loan, please click here. There is hope – we have helped many who thought they would never qualify. Call 1-800-626-2585 x 112 now to find out more about your bad credit mortgage options with NCMB.