Low Credit Score
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- Low Credit Score
Low Credit Score isn't the end
Understanding Your Credit Score
Before you may get accepted for a house loan, banks and lenders verify your credit file. Your credit file is a record of your credit history, and it might contain things like unpaid invoices, loan rejections, late payments, applying for credit too frequently, or declaring bankruptcy.
Understand how your credit score got so low:
- There are bills that have not been paid. Make sure your payments are up to date and made on time.
- I was turned down for a loan. If you’ve just been turned down for a house loan, it’ll show up on your credit report. This will be interpreted by many lenders as an indication of poor credit.
- Late payments were made. Late payments will also have an impact on your credit history, although not as much as delinquent invoices.
- I’ve applied for credit far too many times. You should only do a credit enquiry once every six months as a basic rule of thumb. Lenders may raise an eyebrow if you have more than this.
Your options will be limited if the lender checks your credit file and finds any unfavourable marks. All of your previous borrowing experiences are compiled and used to predict your capacity to repay debts in the future.
What's Next?
You don’t need to worry that you can’t get a home loan because you have a low credit score.
We appreciate that things aren’t always black and white, and that there may have been events beyond your control that resulted in late payments, a default, or a recent bankruptcy discharge. Real life occurs. That’s why we have a one-on-one conversation with you to understand more about your experience. The more information we have about you and your problem, the more equipped we are to come up with a solution.
ACCESS TO MORE THAN 35 AUSSIE LENDERS
Some of the brokers associated with us have access to 35 lenders across Australia.
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Talk to one of our Specialist at MortageRoom to get more information on our services and choose the Home Loan that is right for you
Our Services
What Service We Offer
Our Services aim to making your life easier with excellent Home Loan services
Refinancing Loans
Refinancing can help you get better interest rates on your home loan and make quicker repayments
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Maintain a great work-life balance and get the best Home Loan offer you can from our lenders across Australia
SMSF Home Loans
Tap into your SMSF to gain access to fund that can help you buy the investment property of your choice
Low Credit Score
Do you have a low credit score and unable to get the best interest rate for your Home Loan?
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Avoid paying the LMI when you are taking more than 80% of the Property Value as a loan, talk to use today
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FAQ
General Questions
It is 100% free! We don't charge you anything as we work directly with the top brokers in the country and earn our fee from them.
The amount you will be saving can depend upon your current loan period, interest rate, and the number of years left on your loan.
You will be provided with an estimate after you start working with one of our Mortgage Broker.
At Mortgage room, we recognise that every application is different, and therefore each application is provided with a personal touch, and after an internal process, we match you with the best possible Mortgage Broker
Our internal process considers your situation and links you with the best possible mortgage broker on our panel.
In the case of poor credit, your application will be handled by experts who specialise in dealing with such matters. At Mortgage Room, we believe everyone deserves the home of their dreams.
We can deal with regular residential mortgages and more complex situations involving land, investment properties, buying on trust and Asset Protection. Some of our Mortgage brokers are also registered accounts.
So if you are looking to take equity from your home, consolidate some debt, lower monthly payments or want to secure unbeatable incentives, talk to our mortgage broker and see if they can help you.
At Mortgage Room, we recognise that the Covid-19 pandemic has affected many families and homeowners. Every homeowner should be able to access their savings by refinancing. Please discuss your situation with Mortgage Broker and see how he can assist you with the current situation.
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The world of Banking, interest rates and Home Loans, are constantly changing. Our expert Lenders are equiped with all the latest information and years of experience to help you get where you want.
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For more information about our services, contact us or request a call back today! Our experts will get in touch with you as soon as possible.
Phone Number
(02) 8007 4752