Mortgage Broker Company - First time homebuyer with bad credit.

Even though people have bad credit they still want to have housing. If you have bad credit what this shows to the lender is that you are weak financially and may default.

So banks, traditional institutions will not readily offer you money to buy your home. In other words they do not trust you to pay them back.

So you will need to find special financing. You can approach sub prime lenders. Your loan will have special terms and conditions. Plus your interest rate will be higher than if you had good credit.

You can check the internet. But make sure you research the company you are receiving funding from.

So you do have options.