Buying a home with poor credit is easier than ever with online mortgage brokers. You can easily find sub prime lenders, compare rates and terms, and complete the process on your schedule, not the banks.

Online Sub Prime Lenders

Sub prime lenders have moved online to offer their services nationwide. They finance mortgages for people with bad credit due to late payments, bankruptcy, or foreclosures.

Financial counselors recommend waiting at least two years to apply for a mortgage after declaring bankruptcy. But if you have a large down payment or cash reserves, then some sub prime lenders will accommodate your situation.

For other people with poor credit, a down payment is the quickest way to buy a house. A FICO score over 580 will require at least 5% down, while lower scores will need a larger down payment.

Compare Rates And Terms

With online lenders, you can compare rates and terms to be sure you are getting the best home loan. The easiest way to collect mortgage quotes is to use a mortgage broker