Subprime Loans

Our home loan lenders specialize in providing purchase and refinance offers for bad credit borrowers. Subprime home mortgages are needed when a borrower wants to buy a home and they have limited or poor credit. Subprime loans are also helpful for existing homeowners who have developed some credit issues since purchasing their home.

• Cash Out Refinance
• Debt Consolidation
• No Equity Refinance
• Stated Income Home Loans
• No Income Documentation Loans
• Non-Conforming ARM, Interest Only
• Government - FHA, VA
• Home Equity Loans
• Home Construction Lending

If you have bad credit, you may not qualify for a conventional loan or low down payment loans offered by FHA and VA. In this case, you may consider a subprime loan. Because of the higher risk associated with lending to borrowers that have a poor credit history and thus a higher risk associated with repayment, subprime loans typically require a larger down payment and a higher interest rate.

Subprime loans can be good opportunities for borrowers with past credit mistakes by getting them into the home they want at today's price. If you already own a home, a subprime loan can even give you the chance to clean up your credit and ultimately refinance into a lower rate at a later time. If you have a mortgage, you can look at refinancing more than what you currently owe on the house and get cash back for the equity you already have in the home. This cash out could be used to pay off higher rate credit cards, bankruptcy, foreclosure or collections and liens, and it can be an excellent way to clean up a troubled credit history, save money each month and start rebuilding your credit worthiness.

Let Smart Home Mortgage Loans help you find the right subprime mortgage for your needs, and start cleaning up your credit history today!