Category: Credit

Cash-Out Refinance Mortgages: Poor Credit, High L...

Cash-out refinance mortgages are used to access cash from home equity for any number of purposes. However, home owners with poor credit are often precluded from getting these mortgages. Most lenders advertise cash-our refinances with minimum credit scores of 640 FICO and maximum LTVs of 80%. These are traditional terms ...
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Mortgage Loan Approval for Borrowers with Poor Cre...

The three key elements for loan approval are income, credit and property. Borrower income must be sufficient to pay for the mortgage, as well as all other debts and monthly obligations. The property to be purchased must not cost more than its appraised value. And, most important, the borrowers’ credit ...
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