Many lenders shy away from the idea of subprime loans. And they have a reason to. Subprime mortgages are the root of the 2008 financial crisis that many people today are still recovering from. But are subprime loans really all evil? Subprime Basics In a nutshell, subprime loans are loans granted to borrowers with credit […]
The Great Subprime Quiz
~ Take this quiz and find out if subprime is the perfect loan for you! Conventional loans are the shiny trophies you get when you maintain a stellar credit record. That is in the perfect world, but not everyone has a score of 680 or higher. And for those who fall below that mark, getting […]
Make Qualifying for Subprimes Easier
Just recently, the subprime market took the heat when forecasts came out that the subprime auto lending industry would drive us into the next global financial crash. Equifax extinguished the fire after with their research showing that this market has remained very stable. While the ghosts of the last decade’s subprime crisis aren’t gone completely, […]
Saving Yourself From Subprime Nightmare
To others, a subprime loan means redemption. To some, it is a nightmare. Subprimes have its pros and cons. And if you applied for one for the right reasons and with ample knowledge of what you’re getting into, you’d less likely be in a nightmare. A subprime loan is known to have very high-interest rates, […]
Four Tips to Simplify Your Search for a Subprime Lender
The right lender can make a difference between securing a great deal on a loan and not. This is especially true if you have a credit score below 650 due to unpaid debts or a poor credit history. A huge chunk of people applying for loans today fall under the subprime category. That said, it […]
Three Ways Subprime Mortgages are Different Today
When you hear the word “subprime” you probably cringe as the media made it out to seem like subprime mortgages were the number one reason for the mortgage crisis. It is true that they did play a part, but they were not the only reason. Because of that, lenders have come up with a better […]
The New Way to Look at Subprime Mortgages
Subprime mortgages seem to have gone by the wayside with the downfall the industry took, but if you look closely today, they are still available, they just have an entirely new look. Will you hear the word “subprime” being thrown around by banks? You probably won’t. But, what you will hear is the word “non-qualified […]
Three Ways to get your Subprime Loan Application Approved
A subprime loan application typically means that the borrower has less than optimal credit, but that does not mean that getting a loan is impossible. With the right steps, even people with less than perfect credit can get a mortgage loan today. Lenders are beginning to ease up on their tight restrictions in order to […]
What’s the Definition of Bad Credit?
When you apply for a mortgage, you always hear the term, “good credit” being thrown around. But what exactly is good credit? Is there a matrix that you can compare your situation to in order to see how you stack up? How do lenders decide who has “good credit” and who has “bad credit”? Good […]