Can I Get a Mortgage Loan If I Have Bad Credit?

In a home finance market overflowing with potential lenders, almost anyone can get a mortgage if they are persistent enough and keep shopping around. Even people with bad credit or no credit can get

There are lenders who specialize in working with people who have bad credit, often called "sub-prime lenders." However, for every legitimate sub-prime lender, there are others that are out to take advantage of people with poor credit scores. These disreputable mortgage brokers look to feed on people with bad credit and often offer loan consolidation, which can actually make matters worse, or they may offer a mortgage with outrageous terms buried in the fine print. If you are looking for a sub-prime lender, get references and be very careful.

That said, the process of applying for a bad credit mortgage is not unlike any other mortgage application. The lender will want to look over your credit report, your employment history, your income, and the amount of debt you are carrying. You can learn more about how to make yourself a better loan prospect on Cleaning Up Your Credit Record.