Your home is your largest asset.  When you get a home loan, you are putting your largest asset on mortgage.  If you fail to repay the loan, then you may have to vacate your home.  Hence, you must be very sure of the reason as to why you need a home loan and how are you going to repay the loan.  If you have a bad credit score, then it is obvious that you are not in sound financial health and would find repaying the loan extremely difficult, if it is not properly planned.  You may avail the services of an online credit-counseling firm to plan effectively.  They make take some fees but it is worth it.  They can show you ways and means of improving your credit and guide you towards financial recovery so that you may never have to take a loan again.
 

Searching the Internet

You can search for a moneylender who will provide you with a home loan in spite of your bad rating on the Internet.  You must find someone who is a legitimate loan provider, otherwise you may be duped into paying application fees, processing fees, and other charges only to find that the loan provider is not legitimate and your money will be lost.  National and state business regulatory sites can be referenced to find out the legitimacy of the moneylender.  You may get loan quotes from numerous moneylenders so that you can compare their quotes and come to a rational decision.  Online moneylenders usually do not charge any application fees and will immediately give you a free loan quote.  You may be also pre-qualified and pre-approved for the loan within minutes.
 

Working out the details of the loan

Once you have found out a legitimate moneylender, after due verification and comparison of the loan quotes, you should focus your attention to the details of the loan.  You should see the rate of interest charged, the duration of the loan, and read the terms and conditions very carefully, especially the fine print.  You should check for application fee charges, processing charges are one time or monthly, does the monthly payment comprise of interest plus some portion of the principal or is it only interest, what are the closing costs, are there penalties for pre-payment of the loan or for late payments.  You can multiply the amount of the monthly payments into the number of payments to find out how much you are paying for the loan.  Long-term loans have small monthly payments but you end up paying more interest.  Short-term loans have large monthly payments but you end up paying less interest.  You have to work out the best term so that you can conveniently pay the monthly payments at the lowest rate of interest possible.  Paying attention to the details of the loan can go a long way in making the experience of getting a home loan a comfortable one.  Your aim should be to pay the loan as fast as possible.  You may find out alternative sources of income, like part-time jobs to enhance your earning potential, increase savings, and pay off the loan in installments or at one go.