Your credit history

A poor credit history does not have to send to run sub-prime lenders. On the one hand, you may still qualify for a loan, reserved for people with good credit. If your bankruptcy was four or more years ago and have established a good payment history since its Fico score is probably over 600, the requirement for a loan.

Through FHA loan programs, you can apply for a loan after two years of a bankruptcy or a mortgage. VA loans also more lenient in the past credit problems. After all, do not assume that because you have an adverse credit history you have to ask the higher interest sub-prime loans.

Sub-Prime Mortgages

If you find that you have bad credit, you can still work with a traditional lender, it can offer better interest rates. As finance companies expand their financing options, more and more companies are adding services for B, C, D and loans.

Sub-prime mortgages are based partly on your credit history, but largely on their mortgage or rent payment history. You want to produce evidence of their rental payments by sending copies of their rent receipts or checks. Payments of the mortgage can be verified through your credit report.

Sub-prime mortgages are only short-term financing options. Once you have improved your credit history, you can refinance your mortgage for the best price.

Sub-Prime Lenders

When you start your search for a sub-prime lender, include all lenders in its investigation. Request quotes from traditional lenders, as well as those that specialize in credit financing poor. Compare the financing of all packages to find the best prices and conditions.

Ideally you want to find a low APR without prepayment fees. Unless you plan to keep your mortgage for seven years or more, you probably do not worth paying points to lower rates. It is also possible that an ARM will offer lower fares with more purchasing power as a mortgage fixed rate.