Who is the best company to get a home loan through with bad credit?

Posted on Apr 3, 2025 in Stated Income Loans

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Question by Jessie: Who is the best company to get a home loan through with bad credit?
I have pretty bad credit and I need a home loan, prostate but I don’t want to get screwed.. does anyone know who I should go with?

Best answer:

Answer by jamesnbarnes
Define “bad”? I would go to www.communityempower.com and enroll in their program ($ 99 I think) and have them assist you with repairing your credit.

Loans for people with truly bad credit (580 or less Credit Score) are hard to get now with over 80 major lenders going out of business since December (see www.lenderimplode.com) making the choice of lenders who handle “B” paper loans very limited for the mortgage broker/banker.

The most forgiving loan is an FHA loan. Find a good lender and ask them to qualify you for an FHA loan. A good Realtor can help you find a competent lender in your area. If your credit is bad because of a one time circumstance like divorce, physician loss of job, accident, death of a spouse, etc., you can probably get a loan with a normal rate (6.25% or so).

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6 Comments

  1. Quicken Loans February 7, 2013

    I recommend looking around for “subprime” lenders. They are companies that specialize in working with clients with bad or less than good credit.

    Are you sure your credit is bad? Make sure you know your credit score. If you truly do have bad credit, you may want to take some steps to improve your credit before you apply for a mortgage.

    Also keep in mind that the rules and regulations for the subprime loan market have changed recently and it may be hard to qualify for a loan.

    But anyway, do a search for subprime lenders and you’ll find a company that can help you. I work for Quicken Loans and you can contact us also if you like. We don’t do very many subprime loans, but you never know what you qualify for until you speak to a mortgage professional and get real and accurate advice and numbers.

    Good luck. I added a link to our website if you’d like more information about Quicken Loans.

  2. Brindha C February 7, 2013

    Home loans may not be the toughest… Have seen lots of people asking info on bad credits. Well, if you need to get yourarrange loans or other finance, and usually means you will pay more interest on any loan you take out.

  3. stephen l February 7, 2013

    I recommend First National Banc Corp. They do business in most states and are your best opportunity for someone to say yes. ADDITIONALLY, IF YOUR CREDIT IS SUSPECT, THEY SOMETIMES FRONT THE MONEY TO GET YOU INTO A CREDIT RESTORATION PROGRAM SO THAT YOU CAN QUALIFY FOR A LOAN. Check out the free evaluation form at the source website and a First National loan officer will contact you within 24 hours. Good luck.

  4. rajesh k February 7, 2013

    If you have a poor credit score, it is difficult to get a loan from most banks and financial institutions. Credit is usually available only at a very high interest rate.Only few companies provide loan with poor credit score.Check out link for details.

    http://l4y.info/

  5. Gary H February 7, 2013

    Don’t lose hope if you’re looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.

    Of course, some will cost you more money in the long run, but a home it’s still one of the best investments that you can make, so, in many cases, it’s worth it, especially for the first year of ownership.

    You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. You can find some bad credit mortgage lenders listed on this page on and off:

    http://www.axalda.info/bad-credit-mortgage.html

  6. Joe D February 7, 2013

    Easy, one call to Pual from Nation Mortgage (310) 795-3903
    http://www.NationMortgage.com
    http://www.RefinanceHomeLoan.com

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