One of the most important factors that will determine whether a person can procure a loan for themselves is whether their past credit history is stable enough for a loan or not. There are so many factors that depend on how an individual has handled their credit.

A bad unadressed credit history shows that the appeal for a loan could be rejected and may mot be met in most places.

And one of the most difficult situations is if the applicant has ever been declared bankrupt or if has ever had a foreclosure then trying to apply for a mortgage purchase, home equity line or second mortgage home loan would be made even more difficult. The fact that home loans are just not available for those with bad credit or with a bad credit history would just not be accurate.

The way however to find such a kind of loan, however is to be to be persistent in looking out for such kind of loans, because there are home mortgage loans for people with bad credit than one wold think. The basic problem with having bad credit is that the borrower will typically turn to sub prime lenders or hard money lenders to borrow the money they need. This results in very high interest rates with high monthly payments. These loans can also include additional points and very high pre-payment penalties.

However, it’s not absolutely impossible to find lenders who give out loans at reasonable rates and agreeable charges, to people who have a bad credit history. All a borrower needs to do is call www.CambridgeHomeLoan.com, which would prove to be helpful to find alternative ways to get a loan approved for someone with a low credit score.

Note: As important as it is to follow your credit on one of the credit services like CreditKarma.com, remember that a consumer credit score can be way different than a mortgage credit score.

Ask your CambridgeHomeLoan.com representative what your current FICO score is. You can also check Annualcreditreport.com. one time a year for a free copy. Another way to improve your credit score is to contact a credit repair expert. Try Sam Dee at (732) 996-2605 or visit https://www.creditscore.com.

There are many different loan programs that you can qualify for with a low credit score.

Some current loan programs include.

-First time home buyer 3.5% Down
-VA Home Loan -Zero Down
-Statement Only Home Loans
-Fix & Flip|Fix To Rent Home Loans
-P&L Only Home Loans
-Business Bank Statement Loan

One way to approach buying a house with a poor credit score is to Apply Here and get your loan setup and ready to go. Once you are ready to lock your rate, you can watch your score and wait until your ready to weigh your mortgage rate against your credit score vs the saving that you might be getting on a good home deal.

For the best Home Loan rates in your area Click Here.