- | Old-fashioned mortgage lenders such as mortgage organizations, banks, and credit unions seldom provide loans to those with a past foreclosure. However, some common lenders offer sub prime loans to those with poor credit. Sub prime loans are intended especially for people with a low credit score. If your home was recently foreclosed, you probably have a poor credit history. In this situation, a sub perfect loan is useful.
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- | Although prime loans are subbed by some traditional lenders offer, there choice is bound. Moreover, these lenders may possibly demand a deposit. If you're hoping to have approved with no money down, it may help to apply with a bank that specializes in bad credit home mortgages.
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