Answer: -Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.Of course, some will cost you more money in the long run, but a home it's still one of the best investments that you can make, so, in many cases, it's worth it, especially for the first year of ownership. You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages.You can find some bad credit mortgage lenders listed on this page on and off: http://tiny.wackyb.net/k2rp/odtl... -Your resltor is right,if you have bad credit you need to consider if you can afford a house when you have trouble paying your bills now. I'm not trying to talk bad about you but a house is really expensive.It will cost you about $500 more per month than renting. -You may not qualify for 100% financing, however, some lenders may qualify you for 85%. For example: A Seller may offer a lease option, allowing you to rent for a year and then purchase. A savvy Seller may want you to pay a large option (a few thousand dollars) that would be nonrefundable, just in case you change your mind.If you find an older house (more than 15 years old), where the Seller has some equity, the Seller may be willing to provide some financing. So if a lender approves you for 85% financing, and the Seller accepts the 15% as a second mortgage (private between you two), then you might be able to work out an arrangement. If the Seller is content with receiving 85%, then they may cancel the second deed without you having to pay it. Otherwise, they'll agree to charge you a certain amount monthly until the next year (or two), at which time you refinance to pay off the 15% that the Seller is still due.