Ameriquest Mortage’s Flexibility For Subprime Borrowers

2007-03-08 10:33:40

( Financial )



If you have previously applied for a loan but got turned down because of past credit problems, like difficulties in repaying debt due to loss of job or medical emergencies, you don’t need to be upset or discouraged.

There are mortgage lenders, like Ameriquest Mortgage Company which has been in the business for more than two decades, that have specialized in subprime mortgages. These lenders finance mortgages to borrowers who have lower credit scores.

But remember that since subprime lenders cater to borrowers with a blemished credit history, you may pose a greater credit risk to them. Thus, subprime mortgages such as ameriquest mortage impose premium pricing over standard mortgages. It means that you will have to shoulder an extra point or two or pay higher interest rate compared to prime borrowers. Nonetheless, you will get financing for your home.

Ameriquest mortage is made flexible for your different needs. Just like any other mortgage, you can choose between a fixed-rate or adjustable rate mortgage. Depending on your qualification, you may be able to get a higher loan with ameriquest.

If you are not a citizen of the country, you may still be eligible for an ameriquest mortage provided you are working legally. With an ameriquest mortgage, you need not provide the usual traditional income documentation. And although you may have been adjudged as a bankrupt or your property foreclosed, ameriquest loan may still be available to you.

You can pre-qualify online for an ameriquest mortage loan without incurring any cost. You must answer questions about the purpose of your loan (refinance, consolidation, home improvement or home purchase). Some loan and personal information need to be provided in the pre-qualification form. After you have filled out the information, an ameriquest mortage specialist will review your information and get in contact with you as early as the following business day.


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