Home Improvement Loans with Bad Credit and Qualifying for Home Improvement Loans

Pittsfield, MA -- (SBWire) -- 08/12/2013 --Real-estate-yogi.com is here to help with that by supplying insight on the subject, such as:

- Credit Score & Interest Rates
- Co-signers Needed
- Government Loans
- Equity Loans

Credit Score Affects Interest Rates

When searching for home improvement loans for bad credit, remember that the lower one’s score is, the higher interest rate he’ll have to pay. A good idea is to get rid of some debt before applying for any home improvement loan. Take on a second job to earn the money, or hold a garage sale to get it. Borrow it from a friend or family member. Do something to eliminate some of one’s debt. His credit score will improve accordingly.

Get Home Improvement Loans With Bad Credit Online At Lowest Rates In USA!

Co-Signers Needed
If one wants a home improvement loan and has bad credit, he may need a co-signer to help him get it. A co-signer is a person whose credit is really good and who is willing to let one “use” it to get a loan to fixing up his home. The co-signer will have to take over payments if the borrower defaults. Another way to get the loan is to provide some sort of collateral to guarantee it. Such collateral may be a car, a piece of valuable jewelry, or some artwork.

Government Help
The Federal Housing Administration has ways to provide home improvement loans for bad credit. If a consumer maintains a good credit history for at least a couple of years after a bankruptcy, he may be able to qualify for an FHA loan. The individual will also have to have 3 years’ consecutive employment, proof of steady income for 3 years, and a good bill payment history, as well. The FHA wants to help those who wants to help themselves by demonstrating an improved ability to handle credit and money more effectively.

Home Equity Loans
If a person interested in looking for home improvement loans with bad credit, he may need to look no further than at his own home. If he’s been there long enough to accumulate equity, he can take out a home equity loan. This will go miles toward improving one’s property. He will receive the money in one lump sum, which he can access for any of the projects he needs to accomplish.

About Real-Estate-Yogi.com
http://www.real-estate-yogi.com is a reputable, no-cost website whose purpose is to give understandable, correct answers to the consumers who pose property financing questions. For a free consultation, dial 1-800-987-1397.