Before a lender agrees to forward any funds to a potential borrower, they will want to look at the credit history of the borrower. All the lender is looking for is assurance that the money they lend out is safe and will be repaid on time, as agreed upon. The term “Bad credit” gets tagged on to an individual when that individual fails to meet his or her payment obligations (i.e. defaults) on the loan from a lender. This tag stays with the individual’s credit history for 7 to 10 years depending on the type of default.

What Calculates Bad Credit?

A person’s credit score is computed by a company called Fair Isaac Company – FICO for short. Although other companies also compute credit scores, FICO is the most trusted, and most used, score. The score ranges from 300 to 850, with the higher end of the scale indicating you are good credit risk. This score is affected by your payment history for the various loans and debts that you take on. FICO collects and computes the data from various lending institutions you deal with to give you a score. Most banks will shy away from you if your credit score is 650 or lower. At we work with all credit scores.

What does bad credit mean to you?

The lower a person’s credit score is, the higher a risk that person is considered by a lender and therefore the higher the cost of borrowing is likely to be. In the past the choice of lenders for mortgages was pretty much restricted to the big banks or financial institutions. In today’s market however, this restriction is no longer there. There are many more lenders available today who are willing to finance higher risk and high ratio mortgages that the banks won’t touch.

What can do for you?

At we have access to a large pool of such mortgage providers or private lenders who provide a variety of mortgage products catering for clients who with past credit issues and even bankruptcy.

If you fall into one of these groups:

A mortgage and credit specialist can review your situation with you to see how much credit you can qualify for based on your history and the amount of equity you have in your home. If you are interested in finding out what your options are, simply call or click on Apply Now! to get in touch with a specialist. We will work with you to create a solution that benefits you and optimizes the use of your equity.


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