No two situations are the same, and outside of your actual score, lenders will also be looking at things like:

1. How much you have available for a down payment

2. If you have an overall low amount of debt

3. How much income you have

4. If you have any debts in collections

When you have bad credit, cash is your best friend. The more of it you have to use toward a down payment, the better.

The reason for this is that your credit score might only qualify you for a certain amount of home. If you can cover the difference with cash, you can still afford the home you want.

The lender you end up with will also play a factor because all lenders will have different requirements.

And while you can get a bad credit mortgage loan, you must be prepared to pay a higher monthly payment due to much higher interest rates.

But don’t forget, if you purchase a home while having bad credit, you can always repair your credit and refinance your mortgage for much better terms.