Bad Credit Interest Only Loans? Not Anymore.

There was a time not long ago that a person with a 580 credit score could get an interest only loan simply by stating their income. Like almost all subprime mortgage products, bad credit interest only loans no longer exist. Today, AAXA's clients must have a minimum 620 credit score to be potentially eligible for fully amortizing financing options such as fha loans, va loans, and USDA rural housing loans, or they must have a minimum 680 credit score for interest only loan financing. Despite the fact that requirements for interest only loans have become increasingly more strict, AAXA does have quite a few lenders that offer fully documented interest only mortgage products. Give AAXA Discount Mortgage a call today to learn more about our investors' wide variety of home financing programs - 877-728-3569.