No charge Home Loans – Is There Truly a free meal?
If you've a poor credit history getting a mortgage or a second Home Loan or maybe refinancing your house can be truly tricky. A bank, sadly, will always view somebody with an unsatisfactory credit record as a bad risk. * Because you've a blemished credit history, lenders will wish to know how secure you are as a borrower now. They'll need to have a look at your work history and earnings. If you're still inside a probationary period or your first year on the job, its highly doubtful you'll be approved.
It may be employed in a purchase but would take a sharpened loan officer to put it together. Now the kicker is that there's actually no free meal and you are paying a higher interest rate. The bank charged you an increased rate so there's sufficient money to cover those charges.