Certain mortgage loans, such as Federal Housing Administration (FHA) loans or Veteran Affairs (VA) loans, are specifically designed to help Americans achieve the dream of home ownership. Because of this, they have lower down payment requirements and more lenient criteria for approval, so even those with a shaky credit history can obtain one of these loans.
These loans do have other criteria that you must meet however. You must have veteran status or meet certain income restrictions in order to apply for these special mortgage loans. You also may have to pay a little extra on your interest and fees. These are small prices to pay however to get on track to owning your very own home.
Speak with a mortgage lenders to find out if you are eligible for one of these loans.