But with a little preparation you should be able to get your financing with little to no problems.
I know you are thinking "I have bad credit can I still get financing?" The answer is 'Yes' you can still get financing with bad credit.
You can still qualify for real estate financing even with major credit problems.
True, it will be difficult, but it will not be impossible.
If you have a bankruptcy that has been discharged less then two years ago, you will be disqualified from a conventional mortgage.
Even though you will not be able to get a conventional mortgage, you may still qualify for a "sub-prime" mortgage even with a current bankruptcy.
But remember you will pay higher fees, higher rates and have higher payments.
If your bankruptcy has been discharged for more than two years and your credit has been good since then can qualify for a conventional mortgage.
Even after you have filed bankruptcy you can get the same terms and conditions as someone with perfect credit all their lives.
Before you shop for your house you should get a pre-approval for your mortgage.
When you are pre-approved you know how much house you can afford to buy.
You are not wasting your time looking at properties outside your price range.
With a pre-approved real estate mortgage in your hand, you have a better chance of having your offer accepted and more often than not it will shorten the entire home buying process.