Subprime Mortgages
Following up from a previous blog that was posted, I have found more information on specific companies that offer subprime Mortgages. Some may ask what is a subprime mortgage, well it is a mortgage that a lender lends to borrowers with a low credit rating. The specifics of the mortgage and how the terms are carried will vary from borrower and lender but Bank of America seems to have jump on board with offering this services to its customers. Read more at https://therealdeal.com/2018/10/14/no-down-payment-no-problem-boa-underwriting-10b-in-subprime-mortgages/
These are no-down payment mortgages as well, this could be extremely beneficial to those who qualify because they are specifically for low credit rating individuals. Some people reject the idea of owning a home for that specific reason. But with options like this out there it can really be a turning point for a lot of people.
For more information an insight on the topic check my "No down payment" article.
These are no-down payment mortgages as well, this could be extremely beneficial to those who qualify because they are specifically for low credit rating individuals. Some people reject the idea of owning a home for that specific reason. But with options like this out there it can really be a turning point for a lot of people.
For more information an insight on the topic check my "No down payment" article.
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