Can I Get A Loan With Bad Credit?

With a bad credit it is almost impossible to get a home loan approved. The key word here is “almost impossible” and that means there is a way for folks with bad credit to get approved for their home loan.

This guide will show you just about how you can go about getting your home loan approved with despite having an unappealing credit score.

Credit Scores

Credit scores show the probability that you will be 90 days late on a loan payment. Mortgage lenders use the credit scoring company FICO to obtain your credit score. FICO grades your score between 300-850.

  • 720 and above = Very Good
  • Between 680 and 719 = Good
  • Between 640 and 679 = Fair
  • Between 580 and 639 = Poor
  • 579 or less = Bad

Federal Housing Authority (FHA) Home Loans

Getting a mortgage in the past was a daunting task, in the sense that you had to have a combination of a