Sub-Prime Loans Made Simple
Sub-prime loans are good products for some buyers but, if you look specifically for sub-prime loans or lenders, you could be outsmarting yourself. For a Free 1 hour consultation with a lender fill out the form
“Lenders can offer you only the products they have available,” says Garcia. But a lot of them have sub-prime loans from affiliate lenders, so they might be able to help you out. CORI LLC’s real estate helps you find a lender that meets your financial plan.
The definition of “ sub-prime loans” will vary by lender. By marketing yourself only to sub-prime loans, you don’t even have the option of a better deal. And the lender is under no obligation to tell you that you could get a lower rate. CORI LLC’s goal is to get you into the house of your dreams, so we help you get the mortgage that is best for you and your situation.
“One of the things we find is that borrowers can be charged different rates depending on which door they walk into,” says Allen Fishbein, director of housing and credit policy for the Consumer Federation of America.
Go through the wrong door, and you risk getting a more expensive loan, says John Taylor, president and CEO of the National Community Reinvestment Coalition. “If you walk into a sub-prime loans branch, they will not say, ‘You’ve got an 800 (credit score), you’ve got to go uptown.'” .
This is why CORI LLC provides a licensed Realtor for all our clients, our lenders have sub-prime loans for credit scores in the 550’s