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Billy Myers' Blog

By Billy Myers | Agent in Jacksonville, FL

Florida Bad Credit Mortgage 97% Financing with a 540 Credit Score!

Florida Bad Credit Mortgage 97% Financing with a 540 Credit Score!

Florida Bad Credit Home loans down to 540 Credit Score!     

With Great Rates!

Minimal Down Payment and Closing Costs.

·    Down payment less than 3% of Sales Price

·    100% Financing options available

·    No reserves or required.

·    FHA regulated closing costs.

·    Seller can credit up to 6% of sales price towards buyers costs.

Easier Credit Qualifying Guidelines such as:

·    No minimum FICO score or credit score requirements.

·    FHA will allow a home purchase 2 years after a Bankruptcy.

·    FHA will allow a home purchase   3 years after a Foreclosure. 

Easier Debt Ratio and Job Requirement Guidelines such as:

·    Higher Debt Ratio's than other home loan programs.

·    Less than two years on the job is allowed.

·    Self-Employed individuals o.k.

 

Apply now at www.FHAmortgagePROGRAMS.com

Or for Faster Service call 1-800-570-0448

 

Getting a Bad Credit Florida Mortgage with bad credit isn't as easy as it was a year or two ago. However, it isn't as impossible as some news reports make it seem. Even Floridians with bad credit reports which reveal past financial sins still sometimes get to the promised land of mortgage approval. Most Home Buyers and Refinance clients do so with the help of a skilled and experienced Florida mortgage lender who specializes in Florida bad credit home mortgages.

If you have what is known in general as bad credit, and you are trying to obtain a home loan in Florida, then we encourage you to work with an experienced Mortgage Lender with a record of funding even the most difficult loans.

Bad Credit Mortgage Florida 97% Financing with a 540 Credit Score!

At 1st Continental Mortgage, we have been helping borrowers with bad credit find the right lenders, gather their loan documents, and present complete loan packages to lenders for over a decade. Our technique really comes down to understanding what a underwriter is looking for and putting together a complete and thorough loan package.

For some borrowers, it's the only way to get a lender to say yes to a home loan. This is especially the case for a borrower with bad credit mortgage issues.

At 1st Continental Mortgage, we know that a temporary set back like a job loss or car accident can leave you with damaged credit even though you have worked hard to meet all of your financial obligations for most of a lifetime. This episode can affect credit ratings quickly and adversely affect the loan process when applying for your Fl home mortgage.

We feel the borrower with less than perfect credit is the one who benefits the most from working with an experienced Florida mortgage lender. A good Florida mortgage lender knows which lenders have the best programs for borrowers with poor credit and knows how to present an application truthfully and ethically in the strongest light possible. No, we won't exaggerate or misrepresent the facts on your behalf; however, we will work to properly represent you and explain why the situation you are in exists.

Your credit report is the key factor for many of the mortgages we offer, but it is not the only factor. With an experienced Florida Mortgage professional from 1st Continental mortgage working on your behalf, you may be pleasantly surprised at the bad credit home loan quote you get from our network of quality Florida lenders.

Bad Credit Mortgage Florida 97% Financing with a 540 Credit Score!

We can help you take an objective look at your home loan options regardless of your past credit history. Our experienced loan officers are very skilled at examining your credit report. And our Florida bad credit home loan specialists are happy to offer you free advice on how to clean up your credit report in preparation for your home loan process.

For some bad credit mortgage applicants, the hardest lifting takes place weeks before the mortgage application. It's never too soon to call 1-800-570-0448 to speak to one of our mortgage officers. If you have a weak credit report but want to get a mortgage or refinance your existing one, now is the time to get started. Use our quick application to find out more.

At 1st Continental Mortgage, we have excellent rapport with many lenders who underwrite and service their own loans in house. Because they don't resell the loans they originate, these lenders can say yes to a borrower when banks that are more conservative have said no.

It's actually better for borrowers with bad credit right now than it was before 1990. Before 1990, if a borrower did not qualify for a conventional or government loan, he or she was out of home loan options. The emergence of lenders willing to serve those with poor credit has been a godsend for the borrower who recognizes that a bad credit home loan is a temporary loan.

Used properly with good financial planning, a subprime home loan serves the bad credit borrower for 2-4 years while he or she demonstrates the discipline to pay financial obligations on time. Once the healthier financial pattern yields a higher middle credit score, the borrower can apply for a government insured FHA home mortgage or a fixed rate conventional mortgage.

Even for mortgage borrowers with bad credit, 1st Continental Mortgage has found ways to secure financing for a decade.

  • 30 year fixed rate mortgages for persons with damaged credit to purchase homes;
  • Fixed rate mortgages with one, three, or five year Interest Only periods;
  • Limited opportunities on loans for purchasing or refinancing single and doublewide Mobile Homes on land for buyers with low FICO scores in Polk County and the other Florida counties we serve;
  • A range of Jumbo and Super Jumbo home loans for those borrowers seeking to purchase executive homes

Don't let credit dings prevent you from applying for a mortgage from one of Florida's fastest growing mortgage lenders. Call 1-800-570-0448 or apply for a Florida bad credit mortgage online using our quick application right now!

Bad Credit Mortgage Florida 97% Financing with a 540 Credit Score!

In all of Florida, www.FloridaMLShub.com

: Alachua, Baker, Bay, Bradford, Brevard, Calhoun, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Escambia, Flagler, Franklin, Gadsden, Gilchrist, Glades, Gulf, Hamilton, Hardee, Hendry, Hernando, Highlands, Hillsborough, Holmes, Indian River, Jackson, Jefferson, Lafayette, Lake, Lee, Leon, Levy, Liberty, Madison, Manatee, Marion, Martin, Miami-Dade, Monroe, Nassau, Okaloosa, Okeechobee, Orange, Osceola, Palm Beach Pasco Pinellas Polk Putnam Santa Rosa, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, Suwannee, Taylor, Union, Volusia, Wakulla, Walton, Washington,

Comments

By Jake Johnson,  Tue Mar 17 2009, 14:46
Hope is here!! My company is one of the nation's largest FHA lenders and we will do loans down to 500 credit scores on refinances(97.75% financing) and 531 on purchases (96.5% financing). I can almost guarantee you that there is very few if any lenders at all doing these loans right now. We are a direct Ginnie Mae lender and are making it happen. If you are dealing with a broker, switch to a direct lender because there isn't a bank they can put you through that will close these loans. I know, because I was a broker-owner for 5 years. If you are below these scores, we can create an automated report for you on what exactly you need to do to give yourself the few points you need. I have been in the business for ten years and there is a reason why I am with this lender. You can call me at 888-536-3001, ext. 1540 or email me at jjohnson@lendamerica.com. Talk to you soon!
By Amc,  Sun Jun 21 2009, 06:19
can you do a purchase with a 620 mid score with a judgement on only one credit reporting agency
By Dr. Credit Score,  Sat Jul 24 2010, 10:19
You have to love having only a 570 credit score and being able to buy a home. Great times my friends. I learned from http://www.thecashteacher.com that the credit score game is something that needs to be addressed in the schools at early ages.
By Used Cars,  Thu Aug 12 2010, 18:27
Is this still available? I find it hard to believe you can still get the kind of down payment with a 540.
By Shane Watson,  Sat Aug 21 2010, 04:17
i do not think that problem is still happening.I find it hard to believe you can still get the kind of down payment with a 540.
**************

Shane ping Watson

Mortgages
By Matt Wierzbinski,  Fri Aug 27 2010, 10:51
I just recently got out of the mortgage biz a month ago. This is not available to my knowledge. 600 is probably about as low as any lender will go. Most are at 620. there are a few stragglers still doing under 600, but it would be wise to assume that they will stop as the economy is not improving. I believe that today the Commerce Dept. has or will announce that the economy is at a stand still. Not good news.
By Bad Credit,  Tue Aug 31 2010, 23:21
540 is pretty low, it's something to realise that lenders would be willing to go as low as that.

bad credit
By Jessica Smith89,  Fri Sep 17 2010, 22:43
Compare our mortgage interest rates, deals types borrowing limits & any related fees & charges for all our products, to help you find the right mortgage.

Mortgages
By Jimwillson,  Tue Sep 21 2010, 03:03
woow that's great offer!

jimwillson
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Student Loan
By Lisarojer,  Thu Nov 18 2010, 04:44
great offer ,but unbelievable in this time
Ftse Betting
By Gmgroup,  Mon Nov 29 2010, 21:21
go through it looks interesting.
Bad Credit

gmgroup
By 123456,  Tue Nov 30 2010, 01:32
hi,, thish is vishal
By Hjkluu7ujjj,  Tue Nov 30 2010, 04:01
Between 1995 and 2004, Murtagh built The Mortgage Group into the ... company of 'targeting borrowers with a bad credit history, overcharging on ...
3 KB (492 words) - 09:56, 1 October 2010
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william123455
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Payday Loans
By Financial Planners Atlanta,  Wed Dec 1 2010, 04:41
I'm shocked, after all that has happened, that some lenders would still only require a 540 credit score for 97% financing. ..This is exactly how we got in the predicament we are in now. The rules/appeal of homeownership has changed permanently in my eyes.
By Alex Standt,  Wed Jun 12 2013, 11:39
I guess there is always a way to stick a round peg in a square hole. It's very important to know what your specific needs are before you enter into a big decision like this. With a poor credit score you have got to be careful of the interest rate. Like anything else the lower your score, the higher your interest rate. These subprime lenders can usually smell you coming a mile away! Here is some related info I found useful: http://www.getahomeloanwithbadcredit.com/refinancing-home-loans-with-bad-credit/
By Roy Bush,  Sat Jul 20 2013, 16:07
I had a buyer that wanted to buy a home in Arizona, but he had a Chapter 7 bankruptcy 7 months ago. I introduced a loan program at http://www.cfsflex.com, they allow a mortgage after a foreclosure, short sale, or bankruptcy. There is only a six month waiting period. This is perfect for individuals looking to become homeowners again.

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