http://www.creditformortgageloan.com-credit for mortgage loan-When a home buyer cannot meet the underwriting requirements of a conventional mortgage lender, the borrower is categorized as a sub prime borrower. These borrowers must choose a lender who specializes in high risk mortgage loans. Unfortunately, high risk mortgage lenders often charge a higher interest rate, and some lenders take advantage of bad credit borrowers. Typically, sub prime borrowers include persons with two or more delinquencies in the past 12 months, judgments, foreclosures, bankruptcy, or high debt-to-income ratio.
Tags: credit, mortgage, loan
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