UK Loan Resources
Recommended Lenders
Several lenders specialize in mortgages for those with bad credit
One
of the best lenders is the Digital Federal Credit Union. One of their best
offers
on home equity loans, for instance, is
the Equity Line PLUS through which home owners can even borrow up to 100%
of the property value, minus the first mortgage if you have one. They
charge no annual fees or application fees and charge only 1% of the
outstanding balance. Those wishing to take interest only option, they can
lend up to 90% of the property value. They clearly specify that all rates
are determined according to the credit history of the borrower, better the
credit, lower the rate. Their best APR is 7.75%.
Another
reputed mortgage lender is equity Line 1-2-3. They do not charge any
annual or closing costs, minimum lines is $200,000. They do charge
$200 closure fee if it’s closed within two years or less. Through them
home owners can borrow up to 80% of the home value. Their best rate APR is
6.77%. As for their fixed rate, can borrow up to 100% of the home value.
Some of their best rates for the fixed term are, for up to 5 years APR is
7.00% (on an estimated monthly payment per $1,000), it will be $19.80. Up
to 10 years, APR is 7.25% monthly payment which will be $11.74. Their
service is available in all the states of U.S except TX and CT. Minimum
APR is 4.00% and maximum is 18.00%.
There is the DCU, Digital Credit Union offering fixed home equity loan. Their rates are determined actually according to the credit history of the homeowner and offers finance up to 100% of the home value. Their loans start from $5000 and can choose from their four term offers, 5 years, 10 years, 15 years and 20 years. Shorter the term, lower its interest rate and longer the loan term, the lesser monthly payment the customer have to pay. They also do not charge any closing fees or pre payment penalties. Their fixed home equity loans are available in all the 50 states of United States.
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