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SUBPRIME MORTGAGE Loans San Jose CA

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Updated October, 2022

Get a Subprime Mortgage Loan in San Jose California

If you reside in San Jose California and you’re having trouble getting approved for a subprime mortgage, we may have the perfect solution for you. On this page we’ve provided as much information possible for every city in Santa Clara County – all to do with getting approved for a subprime home loan.

We have endeavored to include maps and lists for all local San Jose-based banks and local Santa Clara County credit unions, hard money lenders, and subprime lenders licensed to provide loans to people with low credit scores in your local area.

If you live in San Jose CA and know of any new subprime mortgage lenders, you believe we should add to this page please contact us with their location and info. We also provide national companies licensed to give subprime mortgages is most States.

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Subprime Mortgage Providers
for San Jose California

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Use the map below to identify subprime mortgage providers in or near the San Jose, California area. We do not earn commissions from these lenders, nor do we have any business arrangements with these San Jose lenders.

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Use the map below to identify banks in or near the San Jose, California area who provide subprime mortgage loans. We do not earn commissions from these banks, nor do we have any business arrangements with these San Jose banks.

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FAQ: Subprime Mortgage Loans in San Jose CA

 

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 San Jose-based lenders who will consider subprime mortgage contracts.

2.) Do you have a Local Subprime office in San Jose, California?

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

5.) Which banks or credit unions in San Jose, California approve subprime mortgage loans?

We provide maps above pinning the banks and credit unions who have provided San Jose California 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 San Jose-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 San Jose area banks and/or credit unions will give you their more exact estimate based on your unique financial situation, credit score, assets, income, etc.

 

October 05, 2022 weekly financial tip.

Two Card Jack

If for some reason you’re one of those folks who has taken on a lot of debt due to having a lot of credit cards, this tip is for you. We’ve seen some clients who had over 20 credit cards! Of course, what happens is you end up just chasing your debts. You pay off one with the others and cycle goes around and around until you crash. Before you know it you aren’t even making the minimum payments on all your cards. It’s like punching yourself in the face every morning, and wondering why you feel bad.

So be a two card Jack. Slowly but surely pay off one credit card at a time, and cancel it. Keep doing that until you have only two credit cards. For example, a Visa and MasterCard. Or maybe an American Express card and a Visa card. The reason you have to two different credit cards is because some stores, hotels, airlines, etc. only take on kind of credit card, and they sometimes change the cards they except.

Two card Jack never has to worry about one of his credit cards getting stolen, compromised, or dropped inn the wood chipper. He still has a backup. He can track his expenses and keep to his budget, all at the same time making sure he pays off both cards each month.

Coming in 2022

MT Office

3745 Harrison Avenue
Butte, Montana
USA - 59701
P: (406) 952 9129
a@localsubprime.com

CA Office

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

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