If you have gone through a bankruptcy or have a less than stellar credit history, you may be concerned that you are never going to be able to buy the home of your dreams. It may take a little extra looking, and it may even cost a bit more, but there is such a thing as a bad credit loan mortgage that can help you realize your dream of homeownership even if your credit rating is not as high as you wish it were.
Not everyone is in total control of their credit histories all the time; there are numerous reasons for someone to have bad credit reports. Health issues and the medical bills that go with them, divorce, and job losses are all issues that people face in life, and sometimes those issues can adversely affect your credit history.
Your best bet when searching for a bad credit mortgage may be to consider leaving behind conventional financing and try instead to get a USDA, VA, or FHA loan.
USDA loans may be the right solution for your bad credit loan mortgage if you have very little money to put down and if you want to purchase a home that is in a rural area. They may cover 100% of the cost of the home (sometimes even 102%), which is not as common as it has...