Although credit history is an important parts of personal mortgage especially students with defaulted loans, yes you can still qualify for the mortgage. This compromises your ability to obtain a mortgage, since lenders will see you as a higher risk that may correlate to your future default. So how do you do this? Here are some of the guidelines on how to qualify for mortgage even if you have a defaulted student loan. Check your credit report. All Americans are permitted to free credit report
Mortgage in California is not usually attainable with low credit score. California is one of the eighteen states which have been designated as hard hit by escalating unemployment levels. However there are quite a number of house mortgage trusts who can give you a house mortgage in California with a low credit score. You have a duty to ensure that you settle for the best even with a bad credit report to your name. Here are some of the trusts which will give you a mortgage for a home in California
A first home purchase is a big deal for any home owner and requires a lot of money, energy and time. First time buyer home loans enable borrowers achieve their dreams of owning a home without completely draining their bank accounts. Most mortgage experts encourage those who are intending to buy home for the first time to save money for down payment though this is not always necessary. First time home buyers no longer have to be worried about good credit ratings in order to get a mortgage loan.