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Five Star Mortgage, LLC
2280 Satellite Blvd.
Duluth, GA 30097
OFFICE 770.495.3516
FAX 770.495.3528
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Low Credit Score Loans.
The mortgage industry today is totally driven by credit scores. These credit scores control which loan programs are available and how much, if any, down payment would be required. There are three (3) major credit reporting agencies and each has a slightly different way of calculating a credit score. In the mortgage industry, to obtain the most complete overall view of an individual´s creditworthiness, all 3 credit reports and scores are reviewed.
A low credit score can be the result of many different items. The good news is that the mortgage industry felt the need to provide an avenue for buyers with credit issues to qualify to own a home. Typically the interest rate on this type of home loan is higher than normal, but upon the credit score improving the mortgage can be refinanced at a lower more competitive rate.
Five Star Mortgage can help buyers that currently have low credit scores. We have 100% financing option programs as well as programs for buyers that are one (1) day out of bankruptcy. There are even programs available that open collection accounts do not have to be resolved before closing on a home. Talk with one of our loan officers and take advantage of one of our "Low Credit Score Loans".
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