Bad credit home

But a banking institution is only the first stop along the way to making a bad credit home purchase. A credit union has almost as stringent lending policies as a bank, but tend to look at a person in a holistic manner rather than in a template way. Each cu, since often independently owned may have its own set of criteria for lending money, so all of them within a comfortable driving distance ought to be checked out. The reason for banks and cu's being mentioned first is because generally speaking, these lending entities have the lowest interest rates for mortgages. But there is more to a mortgage than just the interest rate.