ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Mortgages for People with Bad Credit

Updated on June 4, 2012

When you are in the market for a mortgage and are searching around, there are a lot of things that lenders consider. The main obstacle for people is when lenders look at their credit score also known as FICO score. People who have had a history of not paying their bills on time or ones that have had things happen to them in life that was beyond their control have the hardest times. There are a few new programs that have come about lately that may help those with bad credit wither clean up their scores and help them qualify for a loan even in these uncertain times.

The main factor that lenders look at is the FICO score, for a conventional mortgage most lenders require at least a score of six hundred and fifty. But, for those that don’t have that high of a score to qualify there are programs that will help you qualify for a mortgage loan for people with bad credit.

The best mortgage loans for bad credit are the ones that the government offers to you. The first mortgage to consider is called a FHA loan. FHA loans are loans backed by the U.S government that allows the lender to guarantee a return of their money. To qualify for a FHA loan you must have a several qualifications, first is a minimum of a 640 FICO score. You must also have steady employment or a way to provide documentation if you are self-employed. As well as have most if not all your current credit obligations paid down. They will provide you a great interest rate and a secured loan for you to get your very own home.

There are other lenders out there that do specialize in giving bad credit mortgages to people with bad credit. You must be very cautious about whom and how you do business with these companies. Not only will you save yourself a lot of headaches but, you will also save hundreds if not thousands of dollars over the lifetime of the loan. So, before signing any contract do a little research on the type of loan, you are taking along with the type of company you are doing business with so that you can be an informed consumer.

Along with saving hundreds of dollars a month, by choosing the right company you also will have the chance to improve your current credit situation. One way to do this is to pay your bills on time after at least a year of on time payment like a mortgage your credit score will go up. Secondly before and after you receive your loan make sure you go to all three major credit bureau and find out exactly what you have on your credit. This way if there are any inaccuracies you can dispute them before you even apply.

The three major credit bureau:

1. Equifax –

2. Transunion –

3. Experian --

So, using these tips as well as researching the company you are searching for will greatly ease your frustration for applying for a bad credit mortgage. This will greatly increase your chances of qualifying for that loan to finally own the home of your dreams. This will also save you thousands of dollars in the process what could be better than money back in your pocket? So do your research learn about the process and apply to the best companies and you will own that home you been looking for.


Submit a Comment

No comments yet.


This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

Show Details
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)