Navigating the world of mortgages can be daunting, especially when your credit score isn’t optimal. If you’re wondering, “Can I get a mortgage with bad credit in Nevada?”, you’re not alone. Many potential homeowners face this challenge. Let’s delve into the rates, terms, and other essential components for people with bad credit in the Silver State.

Understanding Credit in Nevada

Credit is a reflection of your financial responsibility. Lenders use it as a tool to gauge your ability to repay loans. In Nevada, like elsewhere, maintaining a good payment history is the most influential factor for credit. It’s crucial to ensure timely payments on all your debts, from credit cards to utility bills.

Another vital element in the credit equation is revolving credit utilization. This refers to the ratio of your current credit card balances to your credit limits. A lower utilization rate can positively impact your credit score, while a high rate can be detrimental.

According to Experian, one of the three credit bureaus reported, Just one 30-day late payment can hurt your credit scores. Payment history is the most influential factor in calculating your credit score, accounting for roughly 35% of your FICO® Score.

Mortgage Rates and Terms for Bad Credit

In Nevada, individuals with a credit score below 620 are often considered to have “poor” or “subprime” credit. While traditional banks might be hesitant, there are lenders willing to offer mortgages to those with less-than-perfect scores. However, the terms and rates might be less favorable. For instance:

Interest rates for individuals with bad credit are typically higher. This is because lenders perceive a greater risk in lending to someone with a history of missed or late payments.

Aquino Capital Group: Simplifying Home Purchases for Bad Credit Holders

When you’re in the market to purchase a home with bad credit, we at Aquino Capital Group strive to streamline the process. Our team understands the unique challenges faced by individuals with lower credit scores. We offer tailored solutions, ensuring you get the best possible terms and rates.

What Is The Process Of Starting The Pre-Approval Process?

When you are in the market to purchase a home with bad credit, we at Aquino Capital Group try to make the process as simple as possible.  Contact us today to set up a free consultation. You can also fill out the Pre-qualification form to get a head start. One of our Agents will reach out to you shortly to discuss your options.

Aquino Capital Group has a national reputation for being able to do mortgage loans other lenders cannot do. We are very thorough when we are qualifying and pre-approving our borrowers. Once we issue a pre-approval, we are not just going to close but close on time.

The mortgage loan application can be completed online and is simple and streamlined. We will carefully review and analyze the data and credit and financial information. Either your assigned loan officer or mortgage process will work together as a team and have a common goal of having a smooth, stress-free mortgage process and home loan closing.

Final Thoughts

While having bad credit can be a hurdle, it’s not an insurmountable one. With the right strategies, tools, and assistance from trusted entities like Aquino Capital Group, homeownership in Nevada is within reach. Remember, rebuilding credit takes time, but with dedication and the right approach, you can achieve your dream of owning a home.

Aquino Capital Group
The Aquino Capital Group empowered by NEXA Mortgage LLC founded by brothers Nick and Michael Aquino, has a goal and mission to provide a level of service that is second to none.
Company NMLS: 1877202
Equal Housing Lender
Contact Us
9805 W. Post Rd
Suite 220
Las Vegas, NV 89148
(800) 846-0729
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Aquino Capital Group LLC empowered by NEXA Mortgage LLC, NMLS # 1660690
Corporate Address 3100 Ray Rd Suite 201 Office # 209| Chandler, Arizona 85226
Company NMLS 1660690| Branch NMLS 1877202| Company State License # AZMB-0944059, Branch 8905 W. Post Rd, Suite 220 Las Vegas, Nevada 89148

The content provided within this website is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Mortgage loans may be arranged through third party providers.