Bad Credit Refinance

What is a rate & term refinance? It is when you refinance your mortgage loan in order to get better terms on a new mortgage than the one you currently have financed. Normally there is little or no cash back to the client when they do a rate & term refinance, it is primarily used solely to lower your monthly mortgage payments or to lock in a fixed rate loan from an adjustable one.



Great Reasons Do A Rate & Term Refinance Loan

  • LOWER YOUR MONTHLY PAYMENTS. (By decreasing the interest rate from your current loan you will save hundreds or even thousands of dollars monthly and over the life of the loan)
  • GET A 30 YEAR FIXED RATE LOAN (Many of our clients were previously on adjustable rate mortgages which can reset to dangerously high interest rates after the initial teaser period. We convert many adjustable rates onto low fixed rate loans for security and lower monthly payments)
  • SHORTEN OR LENGTHEN THE LOAN TERMS (Maybe you want to pay off your home in 15 years instead of 30 years. Or maybe you want to lengthen your loan from 30 years to 40 years to help lower your monthly payments)
  • FORECLOSURE BAILOUT (It's sad but many people in our great nation face foreclosure every day. Maybe you had some medical problems or a lawsuit that put you into a bind and got you behind on your mortgage payments. A rate & term refinance can help you pay off your old bad loan and get you a fresh start with a new one while potentially lowering your payments in the process)
   As you can see there are many valid reasons for doing a rate & term refinance loan even with bad credit. It's important that you deal with mortgage professionals that are experts in bad credit refinance loans however. You do not want to get a high interest rate loan, and interest only loan, or an adjustable rate loan without knowing exactly how they can affect you.
 
    We stress in most cases the best option for our clients is a 30 year fixed loan that carries the lowest interest rate possible. If you have a credit score above 680 obviously you have the widest selection of loan programs available to you. If however your score is below a 600 you need to ensure that you have access to programs such as our specialized bad credit cash out loans that carry reasonable interest rates. We don't believe that bad credit should stand in the way of our clients attaining affordable rates!
 
 
Highlights of our Rate & Term Refinance Loans
 
 
  • 30 year fixed rates that will never adjust on you
  • No prepayment penalties EVER. refinance or sell whenever you choose with no worries.
  • Very low mortgage insurance coverage if the LTV is above 80%.
  • One loan with no high rate 2nd mortgage
  • Up to 97.75% LTV for owner occupied homes.
  • Up to 90% LTV for no owner investment refinance loans
  • Low fixed rates between 5.75%-7.5%. NEVER higher than 7.5%!
  • No need to pay off medical, collections, charge-off's, or other bad debt if don't chose to.
 
    Now you can see why we are the premier source for bad credit  refinance loans in the U.S. Our mortgage professionals are prepared to put their years of experience and our access to these bad credit cash out mortgage loans to work for you! Contact US today or APPLY ONLINE for a same day response and let's start working together to help your American dream come true!