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Home Loans Made Smarter

A Bank Said No, How Do I Get A Loan?

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Securing a Home Loan with Poor Credit or a Bank Said No

Buying a home, your dream home to be precise, is a very fundamental component to the “American Dream”. For some homebuyers, the process is straightforward: verify your credit, save some money for a downpayment, find dependable realtors, get approved for a mortgage, and then find your dream home.


Unfortunately, for many Americans, this portion of the “American Dream” doesn’t come so easy. There are many reasons Americans can’t achieve the purchase of their dream home, but none of them loom larger or have more of an impact than the strength of their personal credit score.


Estimates show nearly 30% of Americans have poor or bad credit. That means millions of Americans have poor or bad credit! You should never become sheepish or embarrassed because of a low credit score. Instead, you can combat your lackluster credit score by becoming educated and proactive. In doing so, you’ll find securing a home loan to be much easier.

Bank Said No? We Can Help!  Simply Fill Out The Form Below.

What to do with a poor credit score

If you believe your low credit score is simply because a lack of credit history, you can sometimes overcome this with nontraditional forms of credit such as utility and rent payments. If you have a lengthy credit history and a poor credit score you can take a few other steps to raise the likelihood of being approved.


When you’re trying to become approved for a mortgage, you need to prove your credibility, and you can do this by providing proof of recent on-time payments. On-time payments for various bills over the last year or two can help ease lender nervousness.


You should provide all income and financial documentation to your lender. Prepare your most recent tax returns, pay stubs, bank statements, and W-2s. If you have an investment portfolio provide that, too. Allow the lender to search every avenue of income; this will allow them to better understand your financial situation and your debt-to-income ratio.

Another avenue for becoming approved for a loan with bad credit is receiving help from a co-signer. A co-signer is someone who puts their name on the mortgage to guarantee the debt will be paid if the primary borrower defaults. Typically, a co-signer is used for smaller loans, but they can be used for home loans, as well.


A co-signer could be a parent, relative, or close friend. Using a co-signer with good credit is not always a safe bet; some lenders will only look at the lower of the two credit scores.

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