How to get approved for a home loan with bad credit?

Most institutional lenders and credit unions will tell you that you can’t get a loan if your FICO score is under 620, but poor credit is no reason not to get a mortgage.
You can probably get a bad credit mortgage. It’s just that the guys you’re talking to?the banks and credit unions?don’t offer bad credit mortgages, so they won’t steer you in that direction. And this might not be your best option anyway.
You might have other alternatives, depending on just how bad your credit is and what went wrong.

Darryl founded Smith Financial Advisors Inc. in 2006 after over 30 years experience in financial services including Mergers & Acquisitions, Investment Banking and traditional Commercial Banking activities at Bank One. Smith Financial Advisors is a Registered Investment Advisor in the State of Illinois. The firm specializes in Investment management, financial planning, and retirement planning.