It is important to realize that even people with less than perfect credit are attractive to lenders. The lender is in the business of lending money, and if they only lent money to people with perfect credit, they would not make enough loans to stay in business. If you have bad credit, don’t be afraid to visit a conventional lender. If you are unsure about the best lender for you, choose a mortgage broker.
Mortgage brokers have more than one lender to choose from when finding money for their clients. They know each of their lenders well, including what qualifications each have and how stringent they are on creditworthiness.
These companies offer many different types of mortgage loans for people with bad credit, but the loans are probably going to be at a high interest rate. You'll want to thoroughly check out all programs available to you. Naturally, if your payment is going to be too high, you'll want to avoid those loans.
Additional resources:
Tips for Applying House Loan
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