Mortgage loans for bad credit - What you need to know

... to keep your credit score and who left with a bad or poor credit history. In this situation, if you want to apply for a mortgage loan could be facing a lot of problems and waste. Here are some tips to help you get loans with bad credit. To obtain a loan for bad credit you should know the following questions. Loan market is divided into two categories.a) The first market of the loan: Lenders who are working with the market first prefer to provide loans to people with average to good credit history.b) The market for sub prime loans: lenders that work with sub prime market are engaged in providing home loans for people with bad credit history. And the most important thing to know is that the sub prime lending market is very competitive and well developed. Thus, there is still time to refinance bad credit. Lenders often give ratings from A to D. A is the best rating and D is the worst. If you fall in A or B ratings then there are likely to get a loan to a person who falls into C or D rating. While approving you "credit rating mortgage bad creditors look at the following aspects: 1) your past credit history. 2) Source of your income. 3) the monthly expenses. 4) bankruptcies, foreclosures, unpaid debts and outstanding payments will be taken into account. your chances of getting a loan increase if you can demonstrate steady employment with good income and your effort to get back the money in a timely manner.