Anyone know of mortgage company that will finance bad credit?

I have 5% to 10% to put down to buy a house but cannot get more than an 80% mortgage. Anyone know of any companies that will help?Anyone know of mortgage company that will finance bad credit?
The FHA will do up to 97.5% financing with a credit score as low as 500.Anyone know of mortgage company that will finance bad credit?
There are way more details necessary than you are likely to be interested in sharing on an Internet forum. Find a broker that doesn't charge application or credit report fees, and let him/her go to work. If they can't get you approved try another one or two - but if you keep getting the same answer, odds are what you are seeking to do just isn't doable at this time.





Even if the broker can get you financed, still comparison shop with one or two others to make sure that what you are being offered is reasonable.
Many lenders, banks in particular, deal in any sort of secured loan other than second mortgages. Other institutions deal almost exclusively in secured loans. Finance companies that deal in secured loans can be found in your phone book, newspaper, and increasingly, online.Shop%26lt;!--around and compare interest rates on loans and the terms of repayment with several different lenders. You'll find many internet sites that let you request a loan rate quote from multiple lenders at once. You can find more information on bad credit loans here,





http://badcredits.awardspace.com/





Once you've submitted a request for a loan quote, you'll be contacted by representatives from several companies--%26gt;and can get a good idea of what each can offer you in terms of interest and other finance charges and fees. Choose the best one for your needs, and apply for the loan. It's that easy.
There are mortgage companies that will finance a house for you, but make sure you don't get knocked upside the head! Even if they get you in with 10% down, you better make sure you don't get killed with high interest rates and outrageous closing costs. Remember your down payment is different from you closing costs. So, you might put 10% down, but end up with a lot of broker's fees, a high interest rate, and maybe even a loan program that might get you in trouble down the road. Ask friends and relatives if they know a good loan officer. The main question for the loan officer is if they are a direct lender or a broker. The direct lender lends the money, the broker searches for a direct lender to loan you the money. The broker has to get paid too. A lot of times the broker will make just as much, if not more than the lender.


';The FHA'; does not loan money, that's the type of loan. FHA, Conventional, or VA.
Have you tried taking out a 80/20 mortgage? This is probably your best bet. This means you have one ';main'; mortgage making up 80%, and a second smaller loan for 20% with a second bank/lender. I would contact a mortgage broker instead of a bank, then they'll find something for you.





PS - Keep in mind, the financial markets were just rocked by a subprime failure - meaning a lot of lenders giving out loans to those with bad credit defaulted on their obligations. What this means is in the coming months it will get even harder to be approved.