SUBPRIME MORTGAGE Loans Huntsville AL

Subprime Mortgage Providers
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for March 27, 2023

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FAQ: Subprime Mortgage Loans in Huntsville 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 Huntsville-based lenders who will consider subprime mortgage contracts.

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

No. LocalSubPrime.com is a nationwide lender-borrower conduit service, and does not have consumer office locations in Huntsville, or anywhere in Madison 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 Huntsville-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 Huntsville AL area. We us information from borrower survey answers provided by other subprime borrowers with similar credit scores to yours, and who live in Madison County.

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

We provide maps above pinning the banks and credit unions who have provided Huntsville 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 Huntsville-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 Huntsville 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 27, 2023 weekly financial tip.

CA Office

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