Mortgage lenders always pull a person's credit report before approving and issuing them a mortgage loan. If you know that your credit is not the greatest, you might worry about this step. The good news is that you can qualify for a mortgage with bad credit, but it might take some extra work. Here are some tips to help you get a mortgage loan to buy a house even if you have a poor credit score.

Consider an FHA Loan

The first option you have is to consider an FHA loan. FHA loans require meeting criteria, but the criteria are less strict with these loans than with other loans. In fact, lenders that offer FHA loans are often willing to overlook a low credit score if you have other positive traits about your financial status. Lenders will consider your income, job status, and savings account balance, and you might have a chance at getting approved for an FHA loan. FHA loans have the most relaxed criteria of all loan programs.

Use a Mortgage Broker

Secondly, you might want to consult with a mortgage broker for help. Mortgage brokers work with many mortgage lenders, which opens more access to options for you. A broker can assist with helping you improve your credit, too, and they will search high and low for lenders that might offer you a loan. In the meantime, you might want to look for ways to increase your credit score.

Offer a Higher Down Payment

The next thing you can do is to offer a higher down payment. When you provide more money down, it gives you a bigger incentive to repay your mortgage loan as you agreed to when borrowing the money. Lenders realize this, and they know that they have fewer risks when issuing loans to people who put a lot of money down.

Take a Loan With a High Rate for Now

If nothing else, you might qualify for a mortgage loan with a high interest rate. If this is the only loan you can get, you might want to take it. You can always work on your credit and refinance the loan when you have a higher credit score.

If you follow these tips, you might find some success in getting approved for a mortgage loan. If you would like to apply for a loan or ask questions about loan options, contact a mortgage lender.