Last Resort Bad Credit Lending

:: Last Resort Lender

Bad Credit Home Loans are ideal for inidividuals who have had credit problems in the past, but need a loan for a new home purchase, mortgage refinance for their existing home, debt consolidation loan or a home equity loan. If you do not qualify for a bank loan or a subprime loan, you may still qualify for a private loan -- also known as a hard money loan or bad credit loan.

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Typically, you will need 25% equity in a property or other hard asset to use as collateral in order to qualify for a hard money loan. Your real estate collateral allows a private lender to feel less risk about making a loan with your low fico score and/or bad credit. Without this equity, hard money lenders will not take on this loan because of the risk that the borrower will default on the loan. For additional information about mortgage loans, please refer to our mortgage blog.

Bad credit home loans are a good fit for anyone who has income and equity to secure a loan but not the credit score to convince a bank to give them a loan. For these people, you may need to go with a private bad credit home loan lender for a 12 to 18 months period.

Within the state of California, Bad Credit Lender can provide hard money loans at very competitive loan rates. For bad credit home loans outside of California, other rates apply. At this point, we would try to get you into a subprime loan where the home loan rates is more competitive.