How You Can Still Obtain a Mortgage With Less Than Perfect Credit

With all of the fall out from the subprime mortgage industry and all of the new rules and regulations enacted thereafter, it might be still possible for those people with less than stellar credit to obtain mortgage financing.  There are other important aspects in determining whether or not you might qualify for a mortgage aside from your credit scores, such as front end and back end debt ratios, the purchase price or appraised value of the property versus what is owed, etc.

As has always been the case, borrowers with less than perfect credit can expect to pay a much higher interest rate than those with good credit.  With worse credit the lender takes on more risk.  Often times points will be charged in order to collect a portion of this money upfront in the loan process.