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Bad Credit Home Loans
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intellichoice
What If I Have Bad Credit?
People suffer from bad credit for all kinds of reasons, and often they believe it’s the end to their dreams of purchasing a home. In fact, many don’t try to get a loan because the enquiry or failed application could further impact their credit.
Fortunately, there are bad credit home loans available for you regardless of bankruptcy, defaults or low income. These kinds of loans are different to traditional home loans in two ways: first, low or poor credit may make it difficult to get Lenders Mortgage Insurance (LMI), which is required when you borrow more than 80% of the property value. This leads to the second difference: you may need to provide a bigger deposit to secure the LMI.
Whether divorce, injury, job loss or business failure has affected your credit, you could still qualify for a bad credit home loan. Don’t give up on your dream of owning a home or property; we have access to niche funding sources that are ideally suited for providing you with bad credit home loan options.
Curious about lending possibilities?
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intellichoice
How Can I Qualify for a Bad Credit Home Loan?
Bad credit loans are assessed on a case-by-case basis starting with your credit history and borrowing requirements. Just as your financial story is unique, so too are your loan options.
We’ll help you explore these options without judgement and through an honest assessment of your credit history. We also avoid making unnecessary enquiries on your file, which could further damage your credit. We’ll arm you with all the information you need, and then walk you through the process in a simple, straightforward way.
Our goal is to find the right lender for you—one that will give consideration to your situation when assessing your application. Since we deal with loans that other brokers can’t handle, we’re often able to source interest rates for bad credit home loans that are similar to traditional loans. Let our experience work for you!
Have questions about the process?
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WE ARE TRUSTWORTHY
Why Partner with Intellichoice?
With more than 20 years of mortgage broking experience, we know which sources will give you the best options if you have bad credit.
- Set yourself up for approval. We have access to niche lenders that specialise in bad credit home loans.
- Get the best rates. Loans are often approved for around the same rates as those for borrowers with good credit.
- Rely on our expertise. We make this non-traditional process a transparent and simple experience.
- Work with a responsive team. We partner with you from start to finish and stay in touch every step of the way.
Interested in getting a bad credit home loan?
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intellichoice
Looking for More Advice?
Bad credit is not the end of your dreams for home ownership. While it might make approval more difficult, you still have options. There are situations where lenders may approve you for a bad credit home loan.