Mortgage Loan on a Bad Credit - No Reason to Worry

Want to get a mortgage but have bad credit? Do not worry. Read on to find out how you can get the loan, which corresponds to your score.If have a FICO credit score above 500 but below 580 your credit rating is poor. You have a bad credit to obtain a mortgage loan, but obviously you will get the mortgage loan, but with a minimum of 5% to 20% down payment and a rate slightly higher interest. If your score is between 580-620 so the credit rating is fair. You may or may not get 100% Finance. You can get the normal interest rate depending on the percentage of payment.If down your score is in the range of 620-640 then you do not have a bad credit mortgage loans. You have average credit. You can get 100% finance without any payment. With a certain percentage of down payment, you can also find a good interest rate. You can also get a good rate of interest depending on your credit score lender.FICO above 640 gives you good credit. 100% to 120% financing with interest rates is entirely possible for you. FICO score above 700 gives you excellent credit score. Together with a good amount of financing and interest rates must also enter into the terms of basketball and the conditions according to your needs. Also this time depends on the provider course.Hereby we discussed various rating and the availability of mortgage loans linked to bad credit. Remember to always pay debts on time and maintaining a good credit rating to improve your FICO.