When we talk about real estate financing for those with bad credit, we are also talking about the possibility of expanding credit horizons, that is, enabling people who have had their credit applications denied to be able to make new financial transactions to make their dreams come true.
It is also possible to think of a loan as a way to finance a car, motorcycle or house, because after all, these three items are still configured as
When we're in a financial situation, many things become more difficult to obtain, such as obtaining financing. But it's possible to do so. property financing for those with bad credit?
The first step to finding out if this is possible is to find out what type of restriction is associated with your name.
Below, we've put together a series of information that will certainly help you if you're looking to finance a property but have a negative credit rating.
Considerations on the types of negative listing:
Serasa and SPC: this is the type of credit restriction, a situation that many people find themselves in today. Your name is listed in these agencies when you fail to pay any amount you have committed to, whether it be a loan, a credit card bill, or a store payment plan.
Restrictions at the Central Bank: this case occurs most frequently when a person issues a check and it does not have funds on the agreed date, so their registration becomes “dirty” with the Central Bank.
Pending issues with the Federal Revenue Service and INSS: problems with your income tax return, with your CPF, or pending issues with other types of taxes result in this restriction.
Legal issues: If you have assets seized or labor lawsuits against you, these also result in credit limitations.
Financing for those with bad credit – important considerations
It is important to say that in order to obtain financing through a bank, such as Savings Bank, the answer is no. But this isn't the end of the line; the big downside is that you won't have a chance of getting such competitive interest rates.
A very possible alternative is to finance your property directly with a construction company, many already work with this type of service, of course the interest rates, as we already said, will not be the same as those of Caixa, for example.
The most important thing is to be aware when closing the deal and know if you will really be able to afford what you are committing to, so that your situation does not become even more complicated.
Which banks offer financing for people with bad credit?
It's worth mentioning that 15 years ago we couldn't even think about loans or financing for those with bad credit. However, with the advancement of new technologies and society as a whole, we can now consider this possibility.
You can get financing (or a loan) for those with bad credit with a car or property as a payment option.
Another alternative for loans for those with bad credit is to take out a secured loan.
In this case of a loan for those with bad credit, the banks keep the vehicle or house/apartment as collateral for the payment of your loan.
The new advantage of this type of loan is its lower interest rates, which can be as low as 3.0% per month in some cases. In other words, rates are close to those observed in payroll loans.
However, it is worth mentioning that the only detail that is important to keep an eye on in this case of loans for those with bad credit is that, if you do not pay off the debt, the asset left as collateral is lost, and what could previously have been a help, ends up bringing more harm to those who sought loans for those with bad credit.
Financing for those with bad credit through pledges
Financing for those with bad credit through pledges is a very interesting option that you need to know about.
Just like a loan for those with bad credit secured by a piece of furniture or a vehicle, financing for those with bad credit through a pledge is a way to keep a person's property until they pay off the full amount requested from the bank.
Generally speaking, we can say that the pledge can be made at a Caixa Econômica Federal branch, and you'll walk away with your money immediately, without the need for a credit check. In other words, the bank won't even know if you have any restrictions on your credit or the size of your debts.
Caixa Pledge accepts the following goods:
- Jewelry, silverware and diamonds.
- Valuable pens and watches.
So, which of these loan options for those with bad credit fits your profile? Remember, before taking out a loan for those with bad credit, consider the installment amounts you'll need to pay and whether this will further disrupt your family budget, simply replacing one problem with another.
Interest rates for financing for those with bad credit
It's important to note that financing rates and interest will always depend on which bank you choose.
Each company can charge whatever interest and fees it wants when approving a personal loan. Therefore, while the APR includes everything that will be charged, it's important to understand each one individually:
Interest rate;
IOF (Tax on Financial Transactions)
Taxes;
Insurance;
Registration fees.
Before accepting and requesting a personal loan offer, compare all these charges and choose the best offer for your budget.
Financing for those with bad credit – contact numbers
Below, we will provide contact numbers for companies that currently provide financing for those with a bad credit history.
Crefisa - solutions
That's right! Meet Cris, our virtual assistant, and schedule your appointment at Crefisa without leaving home, directly from your cell phone! Call Cris right now at WhatsApp: (11) 94582-1680.
Agiplan
This is also an interesting financing option for those with bad credit. Agipag's Customer Service Center is open to telephone 4007-2610 (metropolitan regions and capitals) and 0800-007-9090 (other locations), there you can speak to an attendant and clarify all your doubts about the Bank's digital account. Agiplan
Financing for those with bad credit at Banco BMG
24/7 support. For calls from cell phones: 4002 7007; Landline calls: 0800 770 1790; Service from Monday to Friday, from 7:40 am to 8:40 pm and Saturday from 8:00 am to 7:00 pm: 0800 031 8866.
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Good luck and don't give up on your dream of owning your own home.