... to maintain your credit score and that has left you with a bad or poor credit history. In this situation, if you want to apply for a mortgage loan you might have to face a lot of problems and rejections. Here are some tips to help you getting mortgages with bad credit.

To get a mortgage for bad credit you should know the following issues.

Lending market is divided into two categories.a) The prime lending market: Lenders who are working with prime market prefer providing loan to people with average to good credit history.b) The sub prime lending market: Lenders who are working with sub prime market are engaged in providing home loans for people with bad credit history.

And the most important thing to know is that the sub prime lending market is very competitive and well developed today. Hence, there is still a chance to refinance bad credit.

Lenders often give ratings from A to D. A is the best rating and D is the worst. If you fall in A or B ratings then there is a good chance to get a mortgage than that of a person who falls in C or D rating.

While approving you "mortgage bad credit rating" the lenders look at the following aspects:

1) Your past credit history.

2) Source of your income.

3) Your monthly expenses.

4) Bankruptcies, foreclosures, outstanding debt and delinquent payments will also be considered.

Your chances of getting mortgage will increase if you are able to show steady employment with excellent income and your effort to return back the money in a timely manner.