Monday, September 20, 2010

Get Home Mortgages, even with Bad Credit!

Kevin and I have been renting since forever. Sometimes, we just wished that we didn't have to rent and have our own property. We do occasionally look around to see what properties are out there in the market and such. I was searching the Internet the other day, trying to learn more about home mortgages when I came across Advantage Home Rates. It's an awesome website filled with all kinds of information about mortgages.

I always had the misconception that you cannot get a mortgage if you had bad credit. That is why we have always taken care of our credit, making sure that we have an excellent credit history. Yes, your credit scores are really important but I also found out that every mortgage loan is different. Each comes with different terms, varying fees and changing risk levels. This means, it's great news for us (since we have a good credit) and there is still hope for those with bad credit. Apart from that, I also learnt about the difference between the two most common types of mortgage loans (fixed or adjustable loans). Very interesting, I must say.

I really found this website to be very informative. If you are a first time home buyer like us, you should totally check this website out and go through it's various tutorials. I can assure you that you will learn something new from it.

1 comment:

Twilight said...

Sometime ago, I read an article by a US business guru who shared his theory that it is wiser to rent all your life instead of buy properties. His idea struck my head actually. I started renting properties and sublet them out again at higher price. I am a risk taker!