Full Spectrum Lending, Inc. a subsidiary of Countrywide Credit Industries, Inc., has created a new Web site designed for borrowers or homeowners with less-than-perfect credit. Full Spectrum Lending features loan programs for borrowers who have experienced financial hardships such as job loss, divorce, or high-credit debt. It also caters to homeowners or buyers who are self-employed and have difficulty verifying income.

The features of Full Spectrum's site enable borrowers to match their credit situation with the most cost-efficient product; pre-qualify for a home loan; determine their monthly mortgage payment; and ascertain the amount of cash available from home equity.

The site offers a opportunity for borrowers to improve their credit through a special home loan program that offers refinancing at a more favorable rate after a two-year period.

The Web site offers many refinance options, including a calculator for homeowners looking to consolidate bills, make home improvements, lower their montly mortgage payment, pay for college tuition or generate business capital.