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  Category: Articles » Finance » Bankruptcy » Article
 

Single Digit Interest Rates for Bankrupts and Bad Credit Loans




By Julian Thornton

Approach any person in the street and ask them to describe home loans for people in a bad credit or bankruptcy situation. I can say with almost full certainty that the majority of these people you speak to will say that a bad credit mortgage will incur huge interest rates that will render them impossible to pay off. That's because this has been the main message churned out by the media, and the big players in the world of mortgages the major lenders and the majority of mortgage brokers. As you probably already guessed by visiting this website, it is possible for people with bad credit even bankruptcy to secure a home loan. The question is, just how good can the interest rates be?

How Low can you go?
Watch any television ads or read the marketing propaganda from the big players and you'll probably think low interest rates are a winner all the way. Sure, in some cases they may well be, however the interest rate alone won't determine if a home loan is right for a certain person. Factors such as the duration of the mortgage and the specific financial situation of the client also come into play. For the purposes of this article however, we are focusing on bad credit mortgages and the interest rates you can expect.

The fact is with bad credit, you won't be able to take advantage of the lowest interest rates on the mortgage market. The reality is that with bad credit, you are perceived by lenders to be somewhat of a risk. This said though, there are lenders out there who will help you, and provide an interest rate that won't break your budget. I know that reputable bad credit mortgage brokers can secure really good interest rate mortgages for clients with bad credit. There have been cases where specialist brokers have been able to secure loans for bad credit clients that have a 5.79% interest rate for the first year, and a 7.79% rate for the years following. Not bad at all! You too can secure a home loan with a good interest rate as well, even if you have bad credit. Now I'll tell you how to do this.

Securing Single Digit Interest Rates on a Bad Credit Home Loan
Here's my main advice if you are in a bad credit or bankruptcy situation and you are seeking a home loan: forget the banks and the majority of general mortgage brokers. They can't help you! To secure a home loan with single digit interest rates or any home loan at all, you will need to go to a reputable bad credit mortgage specialist. A professional worth their salt will work with you to get your financial house in shape, so you can be in the best position to take advantage of the very best loan for your circumstances. Single digit loans very well may be a possibility for you, however this will only have a chance of becoming a reality if you work with a true professional, experienced in the area of bad credit mortgages. Inexperienced or general brokers can't help you.

Don't Let Bad Credit or Bankruptcy Stand in Your Way of Home Ownership
As a specialist in the area of bad credit mortgages, I go out of my way to tell my clients that bad credit isn't the end it's an opportunity to take advantage of and run with! By working with a specialist in bad credit, you can use your situation as a catalyst for positive change in the area of your finances. Work with a good team of bad credit mortgage specialists, and see just how much you can do to improve your financial situation for good and secure the home loan that works for you. Single digit home loans may well be within your reach, so explore the possibilities today and take action!
 
 
About the Author
Julian Thornton is a Melbourne, Australia-based mortgage and debt analyst specialist. Julian specializes in the field of bad credit mortgages and personal money management coaching. Julian can help literally anybody into their own home and prepare them for financial success.
www.bad-credit-loan-expert.com

Julian Thornton, Designer Mortgage Solutions Pty Ltd, 2006.

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  Some other articles by Julian Thornton
Who Said Bankrupts can't be Home Owners?
"If you're bankrupt now or ever have been, there's no way you can ever own your own home." This has long been the belief of ...

Bad Credit Loan Secrets Most Lenders Don't Want You to Know
When it comes to bad credit and home loans, you'll think of all of the negative things you have heard. All ...

What Bankruptcy Really Means for your Financial Future
All of this negative publicity about bankruptcy and mortgages, and you're probably thinking to yourself, "There's no way I'm ever going to declare bankruptcy!" Whilst this is a great attitude to have, it is important ...

How to get a Home Loan if You've been Bankrupted
Okay, so you've heard the dreaded 'B' word or maybe you're living it now? Chances are you have heard all of the talk about bankruptcy and finance, and you probably believe that if ...

Warning: Debt Agreements could send you Bankrupt Anyway!
If you are in financial trouble right now and struggling thanks to bad credit, chances are you may have heard of a debt agreement and thought, "It's the answer to all of my problems." It's always best ...

Why Bad Credit is No Barrier to Home Ownership
Contrary to pretty much everything you have ever heard about mortgages and bad credit, you can secure a mortgage allowing you to purchase your own home. ...

  
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