5 Mistakes to Avoid When Shopping for Bad Credit Home Loans
For those who want to buy a home, but don’t have the best credit, there is still an option. Bad credit home loans are out there and can help a person buy a home. However, there are some mistakes that can and should be avoided at all costs before applying for a loan. Here are five mistakes every person should avoid. Accepting a loan without checking a credit score. Never go shopping for a home loan without checking a credit score first. Everybody needs to know what kind of interest rates to expect when applying for a loan. Rates below 700 will be offered subprime rates. Signing documents without understanding every line. Never sign loan documents without understanding exactly what the monthly mortgage payment will be. There are hidden fees that can add hundreds of dollars to the monthly payment. Carefully read through every document to fully understand all the fees that will be tacked on to the base payment. Signing up for a lucrative loan before researching ...