Posts Tagged ‘Low Credit Home Loans’
Why Business Owners Get Denied for Mortgages – and What to Do Next
Self-Employed and Denied for a Mortgage? You’re Not Alone. One of the most frustrating moments for many business owners is hearing: “Your loan was denied.” Especially after years of building a successful business. At Edwin Mortgage Team, we regularly talk with self-employed buyers across Alabama who are confused because: Their business is profitable Their income…
Read MoreVantageScore 4.0: A New Opportunity for More Homebuyers?
The mortgage industry is evolving, and that could create new opportunities for homebuyers who may have previously struggled to qualify for financing. One of the biggest developments is the growing use of VantageScore 4.0 alongside traditional FICO credit scores in the mortgage process. While FICO remains an important part of mortgage lending, some lenders are…
Read MoreWhat Credit Score Do You REALLY Need to Buy a Home in Alabama?
The Real Truth About Credit Scores and Home Loans One of the biggest misconceptions about buying a home is: “I need perfect credit before I can qualify for a mortgage.” The reality? Many Alabama buyers may qualify for home financing with lower credit scores than they expect. At Edwin Mortgage Team, one of the most…
Read MoreSelf-Employed & Low Credit? Mortgage Options in Alabama
Can Self-Employed Buyers With Low Credit Still Qualify for a Mortgage? Yes — depending on the situation, there may still be financing options available. Many self-employed buyers believe they cannot qualify because they: Write off expenses Have fluctuating income Use 1099 income Recently became self-employed Have lower credit scores But today’s mortgage market includes programs…
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