Finding A Mortgage Lender For Bad Credit In Texas

Many Texans with bad credit are still eligible for mortgage loans. Texans can do simple things to help raise their credit score, find a mortgage broker and apply for specific types of loans.

Miami, TX (prHWY.com) January 25, 2013 - Many Texans with bad credit are still eligible for mortgage loans. Texans can do simple things to help raise their credit score, find a mortgage broker and apply for specific types of loans. By following these steps, getting a mortgage for bad credit in Texas is not merely a dream, but a concrete reality.

Raising Credit Score

Texans should know their credit score before applying for any loans. After looking over their free credit report to see if there are any large mistakes that need correcting, Texans with credit card debit should contact their credit card company to see if they will accept more than one payment per month. This will help bring down the credit card balance and raise a credit score. Stick to only one or two credit cards per person.

Finding Mortgage Broker

Mortgage brokers devote their whole careers to matching lenders with customers. Check with your bank, your credit card company, your trusted friends or local Chamber of Commerce for recommendations. Ask the broker for references before hiring. If an estimate seems too low, call the lender directly to verify that the broker is telling the truth.

Selecting a Loan Type

Texans that can put down a large down payment on a mortgage should try getting a hard money loan. They have high interest rates, which is why it is essential to be able to pay off the entire loan quickly. A Federal Housing Administration (FHA) loan is a common choice for those with bad credit. This is a fixed rate loan that can take as long as 30 years to pay off. Customers need to prove that they are gainfully employed, so bring a recent pay stub to a mortgage broker.

Michael Smith
Capital City Mortgage Company
12416 Hymeadow Drive,
Suite 208,
Austin, Texas 78750
Telephone: 512 535 5193
Fax: 512 535 2896
info@capitalcitymortgagecompany.com
www.capitalcitymortgagecompany.com

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