 TITLE: How to Get a Home Loan With Bad Credit CONTENT: Check Your Credit Reports and Scores\n------------------------------------\nChecking your credit reports and scores early in your house hunt can give you a sense of which home loans are realistic options.\nWhat qualifies as a good or bad credit score can vary depending on the lender and the type of credit score (there are many different credit scores). However, most mortgage lenders will review your credit reports from Experian, TransUnion and Equifax, as well as FICO® Scores☉ based on each report. They typically use the middle score to help determine whether you get approved and to set your interest rate and repayment terms.\nFICO® Scores range from 300 to 850, which are then divided into five score ranges:\n*   **Very Poor:** 300 - 579\n*   **Fair:** 580 - 669\n*   **Good:** 670 - 739\n*   **Very Good:** 740 - 799\n*   **Exceptional:** 800 - 850\nThe higher your score, the more options you'll have for credit, including home loans.\nIf your middle score is below 500, you might not be able to get approved for a home loan and may have to focus on building your credit first.\nWith a middle score of at least 500, a government-backed FHA loan could be an option if you can afford a 10% down payment. There are also government-backed mortgages with middle-score requirements of 580, 620 or 640 and lower down payments.\nOnce your credit score is in the mid-600s, you may start qualifying for non-government conventional mortgages directly from mortgage lenders. END