Bad Credit Home Loans can help find financing for a new home loan, mortgage refinancing, home equity line of credit, or any other mortgage product, even with bad credit. We can connect you with a mortgage lender with special financing in Washington. Compare the lowest Bad Credit Home Loan Rates and apply for a Washington Home Loan. We help consumers with Bad Credit find the right lender for their needs. In addition to standard home loans, ask us about Home Equity Loans, FHA loans, VA Loans, debt consolidation, and Washington bad credit home loans.
Assessed Value The value that a taxing authority, such as a county assessor places on real property as a base for computing property taxes. Generally assessed at 80% of value.
Down Payment Money deposited towards the purchase of a home paid to make up the difference between the purchase price and the mortgage amount not finance with a mortgage. The larger the down payment, the less you need to borrow. Most lenders require the down payment to be paid from the buyer's own funds. Gifts from related parties are sometimes acceptable, and must be disclosed to the lender. However, FHA allows gifts from any source.
Graduated Payment Mortgage (GPM) A type of flexible-payment mortgage where the payments increase for a specified period of time and then level off. This type of mortgage has negative amortization built into it.
Second Mortgage A mortgage made subsequent to another and subordinate to the first one.
