SUBPRIME MORTGAGE Loans Dothan AL

Subprime Mortgage Providers
for Dothan Alabama

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for March 25, 2023

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FAQ: Subprime Mortgage Loans in Dothan AL

1.) Are subprime mortgages still available in the USA?

Yes. Even after the subprime mortgage crash of 2008, adjustable rate, interest only, and fixed rate mortgages for higher risk homeowners never stopped being approved. You can use maps and links on this page to apply with Dothan-based lenders who will consider subprime mortgage contracts.

2.) Do you have a Local Subprime office in Dothan, Alabama?

No. LocalSubPrime.com is a nationwide lender-borrower conduit service, and does not have consumer office locations in Dothan, or anywhere in Houston County. We are in the process of merging with the company WeFindLenders.com and will be relocating our offices to SoCal.

3.) Who can qualify for a subprime mortgage loan?

Most subprime mortgage loans are approved to homeowners who have credit scores (FICO scores) below 600. However, this number can vary depending on your unique financial situation. You will have to ask your local Dothan-based lenders what their criteria is for approval, and what their bank or credit union branch considers to be an acceptable DTI (debt to income ratio). Use the maps and/or links provided on this page to enquire further.

4.) What is the average interest rate for a subprime mortgage loan?

We have subprime mortgage rate estimator tool JUST FOR THAT. This tool uses your credit score and zip code to give you an estimate of what your true APR would be for a subprime mortgage in the Dothan AL area. We us information from borrower survey answers provided by other subprime borrowers with similar credit scores to yours, and who live in Houston County.

5.) Which banks or credit unions in Dothan, Alabama approve subprime mortgage loans?

We provide maps above pinning the banks and credit unions who have provided Dothan Alabama homeowners with subprime mortgage loans in the recent past.

6.) Will applying for a subprime mortgage loan on your website hurt my credit rating?

No. Your credit score (FICO score) will not be further damaged by applying here @ LocalSubprime.com,  because we don’t carry out a “pull of your credit history”. Only banks and credit unions do “soft pull” or “hard pull” credit history checks.

7.) Can I get approved for a subprime mortgage loan if I recently claimed bankruptcy?

If you have a steady income and the lender considers your DTI to be manageable, you may be approved for a subprime mortgage. This all depends on the national lender’s policies, or your Dothan-based bank or credit union’s policies.

8.) What will my monthly mortgage payments be?

You can estimate your monthly payments by using our payment schedule estimator here. This handy tool gives you an instant estimate of your payments over time, taking into account amortization. Note however, your local Dothan area banks and/or credit unions will give you their more exact estimate based on your unique financial situation, credit score, assets, income, etc.

March 25, 2023 weekly financial tip.

CA Office

35400 Bob Hope Dr.
Rancho Mirage, CA
USA - 92270
P: (406) 952 9129
a@localsubprime.com