Bad Credit Loan Programs

Jumbo Mortgage Refinance Loans provides several bad credit loan programs for people seeking home financing or payment refinancing. Our team of underwriters provides bad credit home loan programs and non-conforming loans for borrowers with limited credit. We offer non-conforming home loans for borrowers with less than perfect credit that Fannie Mae and Freddie Mac lenders are scared of.

Even the most poor credit borrowers' need financing as mortgage lenders continue to release loan programs for homebuyers with less than perfect credit and/ or no credit history. Save money with new bad credit refinancing programs that have been created for higher risk borrowers.

For homebuyers of all income levels and credit histories, there's never been a better time get a home loan. Lenders have been pulling out the stops to mold loan products to buyers' needs.

But now, thanks to a combination of looser underwriting guidelines, a strong economy and the government push to increase homeownership rates. We offer a lot more than the traditional 30- or 15-year fixed-rate mortgages geared to "mainstream" homebuyers to look at some of the newer programs you should know about.

HUD fast out of the gate on FHA loan limit increase

The U.S. Department of Housing and Urban Development wasted no time implementing the increase in FHA loan limits Congress passed in October. The department distributed mortgagee letter 98-28-the administration's document governing the increase-to lenders on Oct. 21, the same day President Clinton signed the legislation into law. With the release of the mortgagee letter, the increase officially took effect.

Be on the lookout for another FHA mortgage letter to follow closely on the heels of this one. In January, Freddie Mac is expected to increase its conforming loan limit amounts. When it does, HUD says, the department will issue the new mortgagee letter to identify what the new maximum FHA loan amounts will be, since FHA limits are pegged to the Freddie Mac limit as percentages.

A complete list of mortgage limits for high-cost areas can be accessed on the Internet at www.hud.gov/fha/sfh/sfhhicos.html

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