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What the New Qualified Mortgage (QM) Regulations Mean for VA Loans
What the New Qualified Mortgage (QM) Regulations Mean for VA Loans The new class of mortgages is all about safety and affordability, two long-time hallmarks of this 70-year-old VA loan program. Throughout the 2000s, some lenders made a ton of money providing home loans to people with poor credit and no realistic

Mortgage Lenders Are Showing Some Give on Credit Scores
A year later, that average has dropped to 727, which indicates increased loan access for homebuyers with lower credit scores. Having a great or poor credit score doesn't necessarily mean you'll be approved for or denied a mortgage, but it plays a large

The True Cost of a Poor Credit Score
The True Cost of a Poor Credit Score "If your credit score is high enough, you'll qualify for a lender's best rates and terms. Your mailbox will be stuffed with low–rate offers from credit card issuers, and mortgage lenders will fight for your business," personal finance expert Liz Weston

Home Mortgage Refinance With Bad Credit, Poor Credit, Lower Interest Rates
Refinance mortgage with bad credit usually means finding high risk lenders who specialize in bad credit scenarios. Generally speaking, these are not anyone's regular, everyday financial institutes, although, some advertise all types of credit welcome.

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Here’s why military borrowers are overwhelmingly choosing VA mortgages

A chance connection with a local real estate agent led her to Veterans United, a mortgage lender that works exclusively with VA borrowers. Her loan officer educated her about VA loans and worked with her to resolve credit blemishes that had previously limited her home-buying options, she says. Veterans United enrolled Townsend into a credit-repair program that she says boosted her credit score from 475 to 670 in just one month by contacting her creditors and utility providers to get derogatory items removed that were old or inaccurate, she says.

“They got me a secured credit card, which also brought my score up,” Townsend tells Bankrate. “I didn’t think I would be able to [buy a home], but they told me they wouldn’t give up on me.” They didn’t. In January, Townsend closed on her first home, a newly renovated ranch for $77,000 in Bellefontaine, Missouri, with no money down and no out-of-pocket closing costs. The seller even provided a one-year warranty.

Townsend is part of a growing number of first-time military homebuyers who are tapping into their VA loan benefits to buy a home over other types of mortgages. According to a recent study by the Consumer Financial Protection Bureau, the share of servicemembers using VA loans to buy their first home has soared since the mortgage crisis. The share was just 30 percent before 2007 and increased to 63 percent by 2009 — and to 78 percent by 2016, the CFPB reported. In 2006 and 2007, conventional mortgages accounted for 60 percent of loans among first-time home-buying servicemembers. By 2016, that share fell to 13 percent by 2016.

Some lenders are giving second-chance loans to those with bad credit

  NEXT Awards for Opportunity Finance. The award was for expansion of an innovative financing program for manufactured housing mortgage loans. The NEXT Awards recognize innovative CDFIs that responsibly serve low-income and low-wealth people and communities.

Community Development Financial Institutions, which include banks, credit unions, loan and venture funds, are making second-chance loans where others may fear to tread. “We are looking for those loan opportunities that are most likely to play a transformational role in someone’s life, especially someone low income and low wealth,” says Mark Pinsky President and CEO of Opportunity Finance Network, a national network of CDFIs.

How CDFIs help borrowers

Flexible loan amounts.  Ask your bank for a $2,000 loan and the teller may hand you a credit card application, but personal loans through CDFIs often range from $2,000 to $20,000, though the loan amount “can go as low as $500,” Pinsky says. Small loans like these are typically not attractive to larger financial institutions, who may not find them profitable enough.

poor credit need a mortgage lender ?

to be specific i need a mortgage lender where i can get a loan but my credit is not the greatest..if anyone have any answers for me that would be great.

There are a few lenders that will do mortgage loans with large down payments. You should contact a local mortgage broker that does FHA loans this government backed agency is not as strict as most conventional lenders.