Home - Mortgage Loans | Personal Loans | Bad Debt Loans | Foreclosure Loans
Apply for a Loan | Best Auto Loans | Best Bad Credit Auto Loans | Best Bad Credit Loans | Best Bill Consolidation Loans | Best Cash Advance Loans | Best Credit Cards | Best Credit Repair Tips | Best Debt Consolidation Loans | Best Free Credit Reporting Tips | Best Home Equity Loans | Best Mortgage Loans | Best Pay Day Loans | Best Personal Loans | Best Products on the Internet | Best Unsecured Loans
Great Financial Advice
Apply for a Loan
Latest Financial News
Rate Lock Advisory
Best Products
Join Our Mailing List
Contact Us
Loan Articles Index
Auto Loans
Bad Credit Auto Loans
Bad Credit Loans
Bill Consolidation Loans
Cash Advance Loans
Credit Cards
Credit Repair Tips
Debt Consolidation Loans
Debt Reduction Loans
Foreclosure Loans
Free Credit Reporting Tips
High Risk Loans
Home Equity Loans
Home Loans
Lawsuit Loans
Mortgage Loans
Pay Day Loans
Personal Loans
Products on the Internet
Real Estate Services
UK loans
Unsecured Loans
Loan Article Index
Loan Articles A-G
Loan Articles H-Q
Loan Articles R-Z
Mortgage Calculators
Mortgage Calculator
Mortgage Amortization Calculator
Rent vs. Buy Calculator
How Much Can I Afford Calculator
Auto Payment Calculator
Click here to Sign up for Email and Newsletter

 

redhotloantips fat loss


A Guide to Getting Bad Credit Home Improvement Loans

Written by: John Mussi

You might be wanting to look into bad credit home improvement loans but are unsure of where to start. After all, how do you get a good loan when your credit isn't the greatest?

What you probably don't realize is that there are a number of lenders who offer bad credit home improvement loans, which use the equity of your home or other real estate to determine the amount of the loan with no additional collateral needed.

These bad credit home improvement loans can be used to make repairs to your home or real estate, or they can finance expansions, new buildings, or any of a number of home improvement projects.

The key to getting these loans is knowing where apply and what they're looking at once you do.

Finding places to apply

A variety of banks, finance companies, and other lenders offer various bad credit home improvement loans.

Many of these lenders advertise this fact with print, television, and radio ads. however, the ones with the flashier ads will often have you paying for their advertising costs with extra fees and higher interest rates.

The best place to start looking for bad credit home improvement loans is the bank or credit union where you have previous accounts. cheques, savings, or even other loans.

Since you're a repeat customer, you might even get a reduced interest rate. Don't take the first offer that you get, though, unless you're certain that you won't be able to beat it elsewhere.

Get at least four or five different quotes for bad credit home improvement loans before deciding on one so that you can make the most informed decision.

Borrowing against equity

Bad credit home improvement loans base the amount that you borrow off of the equity of your home or real estate, which is the amount of the mortgage or home loan that you've paid off. 100% equity means that you own the home or real estate completely, whereas 30% equity means that a bank or lender has a lien or legal claim to it and you've only paid off 30% of the money that you borrowed to purchase it.

The more equity you have in your home the larger the amount you'll be eligible for when you apply for bad credit home improvement loans, and may also cause you to have lower interest rates if the equity is high in comparison to the loan amount you're requesting.

Three month credit repair

Having bad credit can be a stigma that can take years to get rid of, but in some cases the effects of your efforts can be seen in as little as three months.

Begin trying to pay off as much of your outstanding debt several months before you begin shopping for loans, making sure to make all of your payments on time. This will create a small bubble of positive reports in your credit history, which some potential lenders will see as a sign that you're making an effort to turn your finances around.

It's a good idea to start at least three months beforehand, since some creditors only report quarterly. plus, it gives you three months worth of debt reduction which is a boon regardless of everything else.

You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:

About the Author

John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the www.directonlineloans.co.uk website.


Other Related Articles:

Who is your Commercial Loan Broker
What can your commercial loan broker do for you? That all depends on which broker you choose to do business with. As is the case for most things in life, there is a variety of financial institutions to choose from. However, not all...read more

Get a Home-based Business Loan without a Business Plan
The phenomenal emergence of home-based business ownership has been astounding. The Small Business Administration (SBA) projects that by 2007, there will be over 2 million small business firms. Trends indicate that entrepreneurship is quickly...read more

Credit Scores and Loan Applications
Keep Your Credit History Clean - Remove A Negative Credit Record From Your Credit Report It can make a difference of up to 18% in loan repayment costs. For example, on a 30-year, $150,000 fixed rate mortgage, a borrower with the best credit score,...read more


Return to Home

468x60

Best Auto Loans, Best Bad Credit Auto Loans, Best Bad Credit Loans, Best Bill Consolidation Loans, Best Cash Advance Loans, Best Credit Cards, Best Credit Repair Tips, Best Debt Consolidation Loans, Best Debt Reduction Loans, Best Foreclosure Loans, Best Free Credit Reporting Tips, Best High Risk Loans, Best Home Equity Loans, Best Home Loans, Best Lawsuit Loans, Best Mortgage Loans, Best Pay Day Loans, Best Personal Loans, Best Products on the Internet, Best Real Estate Services, Best UK loans, Best Unsecured Loans
Subscribe to Mailing List | Private Policy | Unsubscribe | Site Map