Wednesday, August 1, 2007

No Credit Crunch Here, Internet Lending Business Still Booming!

Sweeping rumors of a credit crunch seem to be proven false!! Just look at the sheer volume of home finance offers on the Web.

If you even have bad credit (called subprime), there are still lots of lenders willing to finance your home at surprisingly low rates!!

A quick survery of the Web tells the tale much more clearly than pouring over money supply statistics and rate spreads. Our findings are below:

At right now I am still offered pretty darned favorable terms with "$200,000 loan for $644/month!† Bad Credit ok!". Wow, sign me up for 400k, maybe even 600k!! They have a BIG network, over 200 lenders - so what if a couple of Mortgage companies are on the rocks, that leaves 198 lenders who will gladly fund me with bad credit.

As of today is going to give me 4 offers, with "Rates as low as 2.9%" And again, "Bad Credit - Okay". One extra thing they offer is help to "Pay-Off Credit Cards", which would probably really help some people.

At I am still told their service requires "No Credit Checks!" and "Bad Credit OK!"

There are too many others to list, you get the idea. In conclusion, it seems pretty obvious that for now there is nothing to worry about.

1 comment:

Market Factors said...

Just for the record, lendingtree's site has changed since this posting at 12:13 AM EST... but the article was accurate at posting.