Non-Prime Mortgage Lenders in Minnesota
Are you in need of a home loan, but having trouble finding financing do to having bad credit, being self-employed, or other road blocks? You may be pleased to learn that there are many non-prime mortgage lenders in Minnesota that provide financing to people with difficulties getting a mortgage.
Today’s version of subprime mortgages are most commonly called “non-prime mortgage loans”. These new loan products are also known as “non-qualified mortgages“, since they often do not meet the requirements of a prime mortgage loan.
Technically, any mortgage that is issued to a borrower that does not meet these requirements is a non-prime loan. Whether someone says “non-prime mortgage”, “non-qualified mortgage”, or “subprime mortgage”, they are usually talking about the same thing.
Non-prime mortgage loans are suited for people with various credit and/or employment issues. The credit issues could range from having bad credit for a many different types of reasons, including a bankruptcy, foreclosure, or short sale. There are many options for home loans for people with bad credit. Also, many of these programs are useful for the self-employed who need to prove their income through a bank statement program instead of tax returns. Many now refer to these bank statement programs as the new stated income loans.
The best non-prime mortgage lenders that offer financing solutions in Minnesota are featured below. These lenders offer unique loan products to borrowers that do no qualify for a prime mortgage. This includes programs that accommodate to people with poor credit scores (as low as 500), major credit issues, and the self employed.
If you would like to learn more about these mortgage lenders, you can view their program details on their websites, including loan guidelines and requirements. Or, if you want us to help you identify the best lender for your personal situation, get in touch with us today. We provide a free lender matching service.
Below is a list of the current non-prime mortgage lenders in Minnesota:
These are just our top picks for non-prime lenders in Minnesota. If you do not qualify for any of the loan products offered by these lenders, do not let that discourage you. We still may be able to help you find a lender that will offer you home financing. Just get in touch with us, and see what we can do for you!