Need a Subprime lender....

try equifirst

85% LTV 11.125 rate 3.25 points. It's ugly but so is the market. You likely can do better.

Because subprime lenders are so few and far between, you may want to consider another alternative. Instead of turning them away when they cannot qualify, why not help that client get their finances in order and increase their credit score. They can payoff some of their debt (increase dti) and increase their fico score all while you still have them as a client. Once they have corrected some of these things you have a better qualified client to work with. It is a win, win for you and the client. You can also get paid for referring them to this service. You can also show them how to get all this done for free. For more information contact Beatriss

"Lbntravel@sbcglobal.net"
[Email address deactivated as per forum rules. Thanks.]

Please check Guaranteed Rate Wholesale's - Score Advantage Program .... good program and much flexible

Hi Jeanette,

I think Bea has suggested the right thing by saying that if you could help to improve the credit score of the client then that would be good. May be your client needs some credit counseling help to organize his finances for a few months and then he'll get to a moderate score with which he can qualify for better loans.

"You can also get paid for referring them to this service"
By the way, Bea, what kind of service are you reffering here? is it something related to credit counseling or a sort of financial advice?

Good luck

Jeanete,

There are still plenty of subprime lenders out their, You want to most likely start with Citimortgage they have the best rates in this very ugly market. Equifist was mentioned, countrywide, chase bc, resmea etc.

like someone else mentioned you could refer them to a service to get their scores up but be careful with that cause they could also ruin their scores. If you do a little research online you can help people do that yourself and keep them as your clienmt. By adding cfredit repair to what you offer you can increase your business and your referals ten fold.

good luck if you have any question please feel free to email me

Let me know if you're still looking for a sub prime lender. I maybe able to help.

Will

I work at Chase Bank and we can do loans for credit scores from 530+, please email me at "erik.l.smith@chase.com"

[Email address deactivated as per forum rules. Thanks.]

Guaranteed has launched a new program Traditional Alternative ..... ur requirement should fit in that ..

Jeanette,

I have to agree with the posters above that raising credit score and letting those lates anniversary would really help you obtain a much better loan for your client. If they really must proceed now there are plenty of lenders left. Citi, Chase, Equifirst, Bayrock, Wells are just a few. Good luck and I hope you are able to find something beneficial for your client.

Hi Jeanette,

I agree with Bea, Caron ans michelle that instead of going for a sub prime lender, one should increase his credit score. Thus he can get a loan at a lower interest rate.

Thanks,
Larry