Bad Credit Mortgage Loans Are You Killing Your Chances Of Getting

Bad Credit Mortgage Loans Are You Killing Your Chances Of Getting Approved

Bad Credit Mortgage Loans - Are you​ Killing Your Chances Of Getting Approved?
When you​ have poor credit,​ your list of​ lenders that will approve you​ for a​ home loan can shrink down very small .​
You want to​ make sure that you​ are doing everything in​ your power to​ keep your credit rating as​ high as​ you​ can .​

Many people will unknowingly hurt their chances of​ getting approved and make it​ more difficult for themselves .​
Here are 3 things you​ will want to​ avoid doing if​ your credit history is​ already bad.
1 .​
Don't have your credit pulled over and over by different lenders - Many people will,​ because of​ their difficulty in​ getting approved,​ apply with many different brokers and have the​ broker pull their credit over and over .​
Every time your credit is​ pulled,​ your score will drop just a​ few points .​
In some situations,​ it​ can be enough to​ disqualify you​ from the​ loan .​
The best way to​ go is​ to​ apply with companies online that will give you​ a​ pre-approval without pulling your credit,​ but instead,​ ask you​ what your credit is​ like.
2 .​
Don't Open Too Many New Credit Accounts - If a​ lender sees that you​ have a​ lot of​ new accounts open it​ can make them wary to​ want to​ lend you​ money .​
It can also raise your debt to​ income ratio,​ which will make it​ difficult,​ if​ not impossible,​ to​ get approved.
3 .​
Don't Be Late on​ Your Current Payments - Some people feel that since their credit score is​ already poor,​ it​ doesn't make any difference whether or​ not they make their payments on​ time now .​
That is​ not the​ case,​ your credit score improves a​ little,​ everytime you​ make your monthly payments on​ time.
To view our list of​ bad credit mortgage lenders online,​ most of​ which do not pull your credit with the​ initial application,​ visit this page:

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