The world of mortgage lending has changed significantly due to rapidly improving technology. This has opened new doors for borrowers that lenders would traditionally overlook in the past.

This new lineage of lender understands that credit problems such as late payments, current outstanding liabilities or even bankruptcies may be a result of a variety of causes beyond your control and not a reflection upon your willingness to make timely monthly mortgage payments.

Zero Down:
Even for those that have impaired credit can purchase a home with no money down.

Limited Closing Costs:
If fees, closing costs and down payment are preventing you from entry into the home ownership market, ask your lender about their "Limited Costs" loans. Combined with a Zero Down loan you could easily be in your new home with little cash.

Interest Only Loans:
A borrower wanting a moderate price and the stability of a fixed payment during the initial period of the loan term could choose this type of loan. Also will do well with borrowers looking for cash-flow management options that will allow them to optimize their discretionary cash flow and take advantage of other short-term investment opportunities.

Portfolio Loans:
Lenders have investors that prefer to hold their credit challenged loans in their own lending portfolio, rather than selling them on the secondary market. Typically these loans allow for more liberal underwriting guidelines.

A – D Grade:
This is the measure that loan applications are graded. An "A" grade would be less risky than a "D" loan; therefore, the "A" grade loan will have a lower interest rate.