Home loans for people with bad credit

Home loans for people with bad credit come in a variety of forms determined by the need and amount required, the repayment schedule desired, and the amount of the down payment. A home loan for people with bad credit usually carries with it a high interest rate (not to exceed 12%). Those borrowers seeking assistance should consider a loan with a shorter repayment schedule in order to save money on interest charges. Borrowers that plan on short term ownership should shy away from fixed rate agreements, as those interest rates will be the highest.