Bad credit mortgages exist. They may be harder to find then those for people with good credit, but they are available if you know where to look. The internet is the best source for finding these mortgages. The internet will also give you the most choices of lenders form which to choose.
Determining what makes a person become labelled a bad credit borrower is really a matter of a few factors. Lenders will consider their credit score. They are looking for the highest score possible or as close to the highest score. They will also look at the amount of the loan requested and how it compares to the value of the home.
They are wanting a home that is worth more than or equal to the amount being requested. Next they consider the person debt to income ratio. This will tell them if the borrower can afford the loan.
Once all of this information is tabulated the lender gets a clear picture of the borrowers financial state. They should be able to determine how risky this loan would be and they will base their decision upon it.
Once you have determined you are considered a bad credit borrower then you should start looking specifically for bad credit mortgages....
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