At Alpine Mortgage, we understand that life’s financial challenges shouldn’t keep you from achieving your dreams of home ownership. We offer a variety of bad credit home loans for consumers with less than perfect credit or low credit scores. Our bad credit mortgage products and bad credit repair services can help put consumers on the road to home ownership and financial independence.
Our home loans for bad credit are specifically designed for individuals whose credit history might prevent them from obtaining conventional financing. Conventional loans require a minimum credit score of 620 and have waiting periods waiting periods before a borrower can apply for a loan after a bankruptcy or foreclosure.
We provide mortgage loans for borrower’s looking to purchase a home or refinance their existing home and take cash out to payoff other debts. Borrowers can qualify for these loans even if their credit history has any of the following:
These and a host of other credit related issues can be overcome by our loans for borrowers with poor credit. Alpine Mortgage maintains a team of highly skilled industry professionals familiar with the company’s less than perfect credit mortgage programs. Below are some of the details of our bad credit home loans.
| Loan Type | Min. Credit Score | Min. Down Payment |
|---|---|---|
| FHA | 580 | 3.5% |
| FHA Low Score | 500 | 10% |
| VA | 580 | 0% |
| USDA | 580 | 0% |
| Non-QM | 500 | 20% |
Our FHA loans allow credit scores down to a 580 with a down payment as low as 3.5% and can go down to a 500 credit score with a larger down payment of 10% or more. For borrowers with a Chapter 7 bankruptcy there is a 2 year waiting period after discharge. There is no waiting period for a Chapter 13 bankruptcy after 12 months of payments in bankruptcy have been made. There is a 3 year waiting period after a foreclosure.
For veterans, our VA loans offer favorable terms even with a less than perfect credit history. VA loans can go down to a 580 credit score with no down payment required. There is a 2 year waiting period after discharge of a Chapter 7 bankruptcy and no waiting period for a Chapter 13 bankruptcy after 12 months of payments in bankruptcy have been made. There is a 2 year waiting period after a foreclosure.
Geared towards buyers in rural areas, USDA loans offer 100% financing options and lower credit score requirements that can go down to a 580 credit score. There is a 3 year waiting period after discharge of a Chapter 7 bankruptcy and a 1 year waiting period after a Chapter 13 bankruptcy. There is a 3 year waiting period after a foreclosure.
We have a variety of other Non QM loan programs available for borrowers that need more flexibility with credit scores down to 500 and no waiting periods after a bankruptcy or foreclosure.
Getting pre-approved for a bad credit mortgage is quick and easy with our online Loan Application. After completing the application, you will receive instructions on how to upload your documents. For a list of documents you will need to upload, see our Pre-approval Document Checklist.
Embracing a new financial beginning is possible with Alpine Mortgage. Our bad credit mortgage loans are tailored to meet your unique circumstances, helping you secure a home while improving your financial health. Our bad credit loans are available in the following states: California, Connecticut, Florida, New Jersey, New York, Pennsylvania and Texas.
Call us today at (800) 876-LOAN to speak with one of our bad credit mortgage specialists or click here to have one of our bad credit home loan specialists contact you.
You'll need to provide various documents, including proof of income (such as pay stubs or tax returns) and recent bank statements. For a complete list of documents needed, see our document checklist.
Government backed loan programs, such as FHA, VA and USA loans, are usually the easist type of loan to get approved for.
Most negative information will remain on your credit report for 7 years, including late payments, charge-offs, collections, and most public records.Bankruptcies can stay on your report for up to 10 years, depending on the type.
