Having poor credit doesn’t mean you’ll be stuck renting for several years. It’s possible to get a mortgage although it will take some extra effort to do so.

Expect to pay more if your credit’s bad. You might need to offer a higher down payment, and your monthly payment and interest rate may be higher than they would be for someone with better credit. You should focus on working with a lender who has experience helping people with poor credit get mortgages. Your lender will want to know why your credit is in its current shape. If you ran into sudden and unavoidable financial hardship, such as job loss, medical bills or a death in the family, you stand a better chance of being approved for a loan. If your credit is bad due to missed payments or late payments, this will lower your chance of getting a mortgage. Your lender might be able to help you find ways to boost your credit before applying for a loan.

Need help getting a mortgage with bad credit score? Visit United Real Estate to find an agent, and stop by our Facebook page for more loan tips.