Contrary to popular belief it is possible to become a homeowner if your credit is poor or even bad. Depend on your credit score it may be necessary to make a sizeable down payment but mortgages for poor credit are available.
However in most cases people with poor or bad credit also don’t have the finances to make a sizeable down payment. A home loan application using mortgages for poor credit ad the financing option in a scenario where the home buyer is not a position to make a large down payment are very dependent on the actual credit score of the applicants for the mortgages for poor credit.
With a credit score of 580-619 though low it is very possible to get a home loan by means of mortgages for poor credit application. Mortgage brokers love this kind on credit as it allows them to make some extra money.
