#bad credit mortgage lenders
Who Are the Best Mortgage Lenders for Bad Credit?
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According to Forbes, Citigroup is sitting in first place for potential home buyers who are trying to get a home mortgage with bad credit. Offering both adjustable rate mortgages and fixed rate mortgages, Citigroup offers ifixed interest rates as low as 4.375 percent (15 year mortgage). For individuals who are having trouble obtaining a fixed rate mortgage, an adjustable rate mortgage may be the way to go. Most people take on an adjustable rate mortgage with the idea that they will buy themselves a little bit of time to clean up their credit before their mortgage rate starts to climb. For example, an adjustable rate may stay fixed for a period of five years, but then may begin to climb up after five years by a specific percentage. Five years is enough time for those with poor credit to work on rebuilding and fixing their credit.
CitiMortgage offers helpful information online to help potential home buyers figure out what size mortgage they should have. You can also check your application status online, which is handy for busy families.
Citigroup is an American-based company operating in 54 countries outside of the United States. They are known for providing mortgage loans to people who have bad credit and who have struggled in the past because of their low credit scores.
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Bank of America
The third-largest bank in the United States, Bank of America also offers mortgage help for people with poor or bad credit. In addition to offering home mortgages to people whose credit isn t the greatest, Bank of America offers help to current mortgage holders who are facing financial difficulties and are having trouble paying their mortgage.