Bad credit
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When you have bad credit, it can feel like getting a mortgage is impossible. But there are still options available to you. Here's what you need to know about getting a mortgage with bad credit.

Broker handing over keys to a new home owner

Lenders require that borrowers have insurance on their mortgages in case the borrower defaults and the property must be sold. This insurance protects the lender's investment and allows the lender to offer lower interest rates.

Most banks require a credit score of 600 or higher for a conventional mortgage. However, there are a few lenders who will make exceptions for credit scores that are lower than 600.

Arguably the best part about private mortgage lenders is that they have no minimum credit score requirement. Whether you have bad credit or no credit at all, you can still get the money you need.

Bad credit mortgages typically have higher interest rates and down payment requirements than conventional mortgages, but they can still be a good option for people who need to buy a home.


If you have bad credit, you'll need to consider getting a mortgage with a B lender or a private mortgage lender. Many private mortgage lenders have no minimum credit score requirements, so even if your credit is poor, you may still be able to qualify for a loan. However, interest rates on loans from private lenders are typically higher.

The Mortgage Firm provides bad credit mortgages to those who may have difficulty qualifying for a conventional mortgage. If you have bad credit, contact The Mortgage Firm to see how we can help you get the home you want.

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