The answer to your question ‘can you get a home loan with bad credit?’ is yes. There will be non-conforming lenders who will let you borrow money; however, there are numerous advantages to seeking the services of a credit repairer before applying for a loan.
- Get a higher credit score: When you default on a loan, you get a black mark on your file which means a drastically reduced credit score. Banks and other major leaders will have access to this data and will likely decline your application or set high interest rates. A credit repair service can remove this black mark and restore your score to a higher setting.
- Increase your chances of getting a loan approval by a bank: If you have your credit file amended before applying for a home loan, the lender won’t be aware of any issues that you had in the past. Therefore, banks will assess your loan application as if you have a clear credit history and therefore, more likely to approve your credit application.
- Reduce your overall payments: Rather than using an alternative lender, you can get a home loan from a bank and have your interest rates set at a fair percentage. This lower interest rate compared to other lending companies, will mean that you’ll enjoy reduced overall payments.
When you use a credit repairer, you can also ensure the accuracy of your personal information on your file.