You can still get a mortgage with bad credit. The question is, how large of a mortgage and how high of an interest rate are you willing to live with. Your credit score directly impacts both those things.

Having a good down payment helps, you should really never go for less than 20% if possible. And, it’s never too late to start getting your credit back on track.As the money is borrowed against the property its often easier to get a mortgage ,than for example a tv on credit , however because of the poor credit history , the lenders that will accommodate you will cover their risk by charging you more in interest than most of the more popular banksI had this very same problem, and it was a mobile phone contract, and a MAC Tools Compressor that I bought on credit that finally got me a credit rating. I have now moved house and traded up, and also have a car on the "never never" aswell. Try a company called Countrywide mortgages. Not the cheapest, not the greatest service, but they know all the "how-tos" when it comes to filling in forms, and they do take a cut, but seem, on the whole to be reliable, and will help you find a mortgageThose things will eventually drop off your report.
In the meatime follow these rules:

- Pay everything on time.
- You will need at least 10% down payment – start saving today
- Also have at least 6 months worth of MINIMUM living expenses socked away in a separte account
- If you have a credit card(s), pay them in full each month. Carrying balances DESTROYS your credit worthiness. Nothing could be more harmfull.
- Get your credit reports once a year at annualcreditreport.com totally free
- Get a book from your library on "buying your first home for dummies" – its really a good book.
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