If you've had a loan or credit card application denied, your credit report will let you see why you were refused credit. Consumers can request a free copy of their credit report at AnnualCreditReport.com.
But consumers with debt problems or bad credit may already know they need to do some credit repair work. If you aren't sure whether you qualify for a conventional home loan or a bad credit home loan, complete the form on this page and see.
If your credit score is lower than 620, you are likely to need to work with bad credit lenders in order to get a mortgage -- and you will definitely pay a higher interest rate than people with better credit. So take a few steps immediately to improve your credit score before applying for a new home loan. Credit scoring company FICO recommends tips that include the following.
Credit repair takes time, but every step you take brings you closer to qualifying for a new mortgage loan and to improving your finances.