Ideally, you should apply for a home loan when your credit score is high. But life can throw a lot of unexpected curveballs your way, and sometimes you simply cannot wait to purchase a house. That may mean that when you fill out your application, your credit could be fair or even poor. But that does not mean you cannot qualify for an affordable loan.
When you contact us about bad credit home loans in Washington, we can assist you in the following ways:
We can counsel you on what you can do right now to try and raise your credit score. If there is flexibility in your schedule for purchasing a home, there may still be time to reduce the perception that you are a risky homebuyer.
We can examine the broader picture of your finances, taking into account the context of your credit score. Although credit scores are important, they do not always tell the full story. We will also consider your debt-to-income ratio, employment history and other factors when you apply for a loan.
We will connect you with the most affordable loan we can find for you. To do this, we will check to see if you qualify for any special loan programs with flexible credit qualifications. Some examples are FHA and VA loans. Even if you do not, we can bring you competitive conventional financing.
We can also advise you on your options for the future. If you expect your credit score to improve going forward, you may be able to take out a loan now, and later refinance at a more affordable rate.
You have dreams and goals and a timeline for achieving them. There are a lot of reasons why your credit may have taken a hit but you could still be a perfectly viable homebuyer with a stable financial future.
That is why at Blue Square Mortgage, we do not believe that a poor credit score should stop you from buying a home and owning your piece of the American dream.
When you give us a call at (206) 352-6453, we can set up a consultation where we can sit down with you to discuss your finances and the options which are available to you. We look forward to helping you open the door to homeownership in Washington state.
Blue Square Mortgage is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.