Pennsylvania Bad Credit Mortgage Loans
A Pennsylvania Bad Credit Mortgage Put You on Path to Financial Freedom
A few bumps in your credit history or even an out-and-out bankruptcy do not have to prevent you from joining the millions of Americans with poor credit histories who have taken out Pennsylvania bad credit mortgage or a bad credit loan mortgage in Pennsylvania to secure real estate.
Find best Pennsylvania mortgage Lenders offering free mortgage quotes
With so many options available in today's Pennsylvania bad credit mortgage market and rates at historically low levels, now is the time to take an honest assessment of your financial situation and see if a bad credit mortgage loan in Pennsylvania is a viable option to get you back on track financially. A Pennsylvania home equity loan can also help you.
Fill out our confidential, hassle-free, no-obligation Pennsylvania bad credit mortgage loan application and you can have Pennsylvania's best lenders working to secure you the lowest, best mortgage rates for bad credit in PA.
When homebuyers cannot make a 20% down payment, they take out an 80-10-10 or 80-15-5 loan. Here, the homebuyer gets two loans. The first is like the regular mortgage that covers 80% of the purchase price and is not charged PMI. The next would be a second mortgage or home equity loan to cover a part of the down payment. The second mortgage would have a higher interest rate that could cut into the savings received by avoiding PMI. The second mortgage would also have to be paid off faster than the duration of the standard mortgage. The interest on the second loan, though, is tax-deductible, while PMI payments are not. Some may make extra payments to pay off the second loan as early as possible. Most home equity lines are based on a ten-year payment plan with amortization of twenty years.
Fill out our online, no-obligation application to determine if a Pennsylvania home equity loan or line of credit is right for you.