"An informed borrower is a happy borrower" by Les Confused
New Horizons Financial, Inc. has assisted
clients who have been turned down by their Bank or
Credit Union because of a challenged credit history. We use sub-prime
lending sources. They can approve a loan to a borrower with a challenged
credit history if enough offseting factors are present.
Typically the interest rate on the mortgage will be slightly higher than the average going rates. Typically a B-C loan will allow up from 65% to 90% loan to value financing, and can even be obtained for those persons with previous bankruptcy, foreclosure, judgements, tax liens, and even for those borrowers currently delinquent on their obligations, or behind on their mortgage (but not yet in foreclosure).
It's even possible to lend to existing home owners up to 90% of their appraised value (in some cases, and with no mortgage insurance) to take cash out to consolidate bills, and payoff other consumer debts if there are no late payments on their existing mortgage loan. We’ve helped our clients obtain financing when they were turned down by their banks for both purchases and for refinance mortgages. Some of our investors don't even look at your consumer credit, only your previous mortgage payment history. The refinances loans we’ve closed have helped to provide cash back to our customer for bill consolidation, and to replenish their savings. If you are in over your head, don’t wait till its too late!