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Do you Have a Bad Credit Score? Top 3 Remortgaging Options


paperfree Aditi Bansal

Updated on Tuesday, June 20, 2017

In case you have poor credit score and you would want a remortgage, you have a few options that you can try. Below are some remortgaging options in case you have a poor credit score.

tags  #Remortgaging Options  #Subprime Lender #

 

Subprime Lender

You can choose to partner with such lenders that have a reputation of working with individuals with poor credit. In case traditional lenders decline to assist you, most of the times they will direct you to subprime financiers that can help you out.

Cosigner

One of the best options you have to remortgage is by finding a family member or a friend to jointly cosign a mortgage with you, especially if they have good credit. This option will work to your advantage because you’ll utilize your friend or family member’s good credit and help you get an affordable interest on your mortgage. Because this can be a bit problematic for the person, who agrees to cosign, ensure that you get individuals that can trust you.

Commercial Hard Money Loans Financiers

Another good alternative that you may have is partnering with reliable commercial hard money loans lenders. Commercial hard money loans financiers are investors that have ready finances to lend commercial hard money loans borrowers, especially those with poor credit scores. These investors have their own rules and regulations and are often ready to partner with individuals that are in troubled circumstances. You most likely will qualify to get finances from commercial hard money loans lenders when you have equity. The commercial hard money loans lenders are beneficial because they don’t have strict procedures and requirements that most banks and traditional financiers have. You can also easily find a nearby commercial hard money loans lender through referrals from conventional lenders or online.



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