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Impaired credit (also known as B-C
credit, imperfect, subprime, blemished, etc.)
is for borrowers with less than perfect credit
histories. It is estimated that approximately
forty-five percent of adults have some form of
impaired credit. In 2005, a record 1.8 million
people declared bankruptcy for reasons ranging
from temporary job loss to deliberate debt avoidance.
Clearly, the availability of mortgage loans for
individuals with impaired credit is on the rise.
Although credit scoring is playing a bigger role
in determining the type of mortgage loan program
an individual applicant qualifies for, there is
much more latitude with impaired credit loans.
The recent addition of 40 year mortgages, 100%
finance programs and "Softer" guidelines
for Bad Credit applicants suggests a greater understanding
and acceptance from mainstream lenders.
The quickest and easiest way to determine the type of loan
that you will qualify for is to fill out our secure online application stating your
objectives. If you prefer, call our office and a loan officer will be happy to obtain the
necessary information over the telephone, review your credit and and provide you with a
fast, efficient and accurate answer. Best of all, at no cost to you
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| Impaired
Credit |
| Here are a few impaired credit calculators:
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