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Mortgage interest rates are as low as they have been in decades. Yes, they have gone up slightly in the last year, but today's rates are still lower than have been seen in recent history. These low rates are across the board. That is to say that even with bad credit mortgage loans, the interest rates are comparatively low to what they were years ago. For people looking for the lowest rates on bad credit mortgage loans, the key is in shopping around.
The best place to start is on the Web. Applying at sites such as our sponsor's will present you with a range of bad credit mortgage loan offers for you to compare. You will see that the rates vary greatly depending on the lender and there is still room to move even with bad credit. Do not sell yourself short simply because of credit problems. Settling for the first loan you can get approved for with bad credit would be a big mistake. If you are facing a bad credit situation and want to get a mortgage, keep at it. Do not settle for a loan that you are not comfortable with. Even with bad credit there are options out there for you.