Recommended bad credit mortgage lenders

Why is your credit bad? Late mortgage payments? Recent collections? A short-sale or bankruptcy in the past few years? Different issues have different solutions. Looking forward to your clarification.

Most lenders use the same FHA guidelines. Some lenders have lower FICO requirements. Work on your credit first.

Very few out their.

The term "bad credit" covers many different items. Is it low scores because of multiple late payments, or is it because of a bankruptcy last month? Generally speaking, "bad credit" loans do not exist... A very small number of lenders will offer low score FHA loans with at least 10% down.

The most important thing you can do is work on getting your credit at least to a 640 credit score or better- you will get a better rate, lowerdown payment requirement if you are looking to purchase a home-If you have a short sale, Foreclosure, their are time constraints on applying also- Good Luck,Pete

There are many lenders that approve down to 580 on FHA refinances and even a bit lower on FHA purchases. You can still get an amazing rate via FHA programs but PMI is required for no less than 5 years in almost every scenario. Good luck!

I lend in Idaho 3.5% down on 580 FICO 10% down 579-500 No BK last two years no Foreclosure 3 years open medical collections OK, charge offs above 5k underwriters discretion. No lates last 12 months. We lend per original HUD guidlines.Gift payments for Down ok.

There aren't anymore bad credit mortgage lenders - that market was referred to as the "subprime" market, and those Lenders don't exist anymore.