Sub Prime Loan

Sub-prime Mortgage Loan

Mortgages are issued on the basis of credit ratings and a sub-prime mortgage is issued to people have a low credit rating.

The only reason they aren’t offered a prime mortgage loan is that the loaner views the individual taking out the loan as having a higher prospect of backtracking on their monthly installments; moreover, this peril has led the loaners to associate a higher interest rate to these kinds of mortgages in case the borrower falls back. In addition, many a times they are also categorized under Adjustable rate mortgage (ARM) so the interest may also rise at particular points in time. However, it is critical for you to grasp this concept that the word subprime isn’t referring to the interest rate affixed to these loans rather the credit rating of the borrower.  The interest rate related with a subprime home loan is reliant on four variables: credit score or rating, the size of the initial installment, the quantity of recent late installments on a borrower’s credit report, and the sorts of the misconducts found on the report.

WHY THE VANGUARD MORTGAGE?

DIRECT LENDER

Direct Hard Money Lender. No broker fees. Best rates in Florida

DIRECT UNDERWRITER

Set guidelines and a streamlined underwriting process make closings happen swiftly. As fast as 48 hours

PROFESSIONALISM

The Vanguard Mortgage is a new company but all our members of staff are seasoned professionals

WHOLESALE RATES

Correspondent lending gives us the ability to bring wholesale rates to the consumer

3 EASY STEPS
TO GET YOUR MORTGAGE

Prequalification

Start with some basic info about your assets, credit profile, income. As a result – amount to borrow and the rate

Application

More detailed info. Creation of a secure profile, track your mortgage application and upload required documents

Funding

Final stage of the mortgage process when all underwriting conditions are met, mortgage loan transaction is closed and funds are disbursed

CALCULATE YOUR MORTGAGE

SOME FEATURES YOU MIGHT LOVE:

Privacy

We do not share information with any third party companies or resellers.

Quick Turnaround

We built technology that helps expedite the review of your loan documentation. This leads to faster closings and a better overall experience for our clients.

Credit score under control

Application process does not affect your credit score.

Online

You can allpy online, upload required dociments, schedule a conversation with a mortgage loan originator here. Everything at one place.

Transparency

Our technology ensures that you are kept up-to-date on the status of your loan application at all times. You will have secure access to your loan documentation throughout the process.

SOME QUESTIONS LEFT?

Sub Prime Mortgage

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