Can you get a second mortgage with bad credit?

+1 vote
asked Jan 29, 2018 in Real Estate - Renting by Evelien (220 points)
Can you get a second mortgage with bad credit?

If you have bad credit scores can you still get a second mortgage?

1 Answer

0 votes
answered Jan 30, 2018 by Minty (132,850 points)
If your credit rating and credit score has gone down enough to be considered bad credit then a bank is unlikely want to give you a second mortgage even if you haven't missed a mortgage payment with your current bank where you have your current home mortgage.

You'll likely need to go to another bank and bring a cosigner with you that has good credit before the bank will allow you a second mortgage.

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