There is no person in this world who wouldn't like to have his or her own home.  If you have bad credit, it can be difficult to get loans to support your dreams of having your own home.   One way is to take steps to rectify your credit situation and then buy a home after a year.   There are some subprime lenders who are open to mortgage financing to people whom they classify as ‘high risk borrowers' with high fees and increased interest rates.   * Start by Making Online Researches   You may get good deals even for a bad credit situation if you search online. There are some lenders who are willing to offer mortgage to people with the same situation as yours.   * Make Necessary Negotiations   You have to negotiate with the lender telling them that you have the sufficient financial resources to pay the money, even though your credit situation has not been good.   * Start Paying Your Dues   Make sure you put yourself on the road to good credit management, by paying your bills on time and not going over the limit with your credit. You can show your debt management habits to the lender with relevant proofs.  Start making regular payments on your mortgage and pay all bills on time. When you are coasting along smoothly, you can also refinance the mortgage at a lower interest rate.