Bad credit history refers to any negative items on your credit report that can make it more difficult to qualify for a home loan or result in higher interest rates and fees. Some common examples of bad credit history include:

• Unpaid credit card bills

• Unpaid or late payments on loans

• Collections accounts

• Charge-offs (debt that has been written off by a creditor)

• Repossessions

• Foreclosures

• Bankruptcies

If you have bad credit history, there are a number of things you can do to improve your chances of qualifying for a home loan, such as:

• Pay off all of your outstanding debts.

• Make all of your future payments on time and in full.

Some lenders may be willing to offer you a home loan with a higher interest rate or larger down payment if you have bad credit history. You may also be able to qualify for a home loan with a cosigner, who is someone with good credit who is willing to guarantee your loan.

Note: This FAQ is intended for informational purposes only and is not a substitute for professional financial advice.