BAD CREDIT MORTGAGE:

Bad credit can happen to anyone. Whether you unexpectedly lose your job, have to deal with illness, or just have no credit profile at all, it can certainly feel like life has to be put on hold.

But, for many, the dream of home ownership doesn’t have to necessarily end. In fact, you may not even realize the many ways you could still be approved for a mortgage.

With Ellicott Financial, you have options. We work with some of the most reputable alternative lenders that offer more flexibility when it comes to meeting qualification criteria and lower credit scores. Some lenders do not even ask for income documents and will accept borrowers with any credit scores.

WHAT’S CONSIDERED BAD CREDIT?:

Credit scores range from 300-900. If your credit score is below 600, you most likely will not be considered by a traditional lender like a chartered bank. However, we’ve partnered with many alternative lenders who help individuals with challenged credit. Each of our lenders have their own lending criteria. Some demand high credit scores and have strict income qualifying guidelines whereas others have no minimum credit score requirements and are extremely lenient with qualifying income. It’s best to reach out to an Ellicott Financial mortgage agent so we can recommend the best lender for your financial needs.

BENEFITS OF A BAD CREDIT MORTGAGE:

  • No credit score minimums
  • Easier and quicker approvals
  • Flexible documentation requirements
  • More lenient qualification criteria