When a borrower has a low score, lenders typically implement safeguards to mitigate their risk:
: A noted option for borrowers with no credit history .
: These government-backed loans generally require a minimum score of 580 for a 3.5% down payment .
: Expect APRs on the higher end of a lender’s range, sometimes reaching up to 35.99% for personal loans.
Buying a home with bad credit often requires looking beyond conventional loans.