Many people see owning a home as an investment that will not only provide for them in the future but also will be some sort of marker for accomplishment in life. Like somehow owning your own home means you have succeeded in some way or another. While not everyone feels this way, enough people do that owning a home can be a very big deal for people. Many people who may want to buy a home may feel like they won’t be able to get a home loan because of bad credit but that is not always the case. In fact, almost half of Americans have a credit score that would not normally constitute eligibility for a typical home loan. That leaves a huge whole that leaves a lot of Americans with bad credit without home loans. That is why the government and different organizations have stepped up to help all of those people who might otherwise not be able to get into the home that they want. To help all of these people a number of different kinds of loans and programs have been created specifically to help people with bad credit get into their new home. Bad credit home loans can help anyone who may have made mistakes in the past that have caused some damage to their credit score but who still think that they want to own their own home and think they can do it. Many home loans for people with bad credit are different from normal home loans in that they offer lower fees, require a lower down payment on the home and are given to a much wider set of people than normal home loans. The federal government is a huge source for many of these home loan programs for people with bad credit. The government offers a variety of different programs or insured home loans for people with bad credit. These government insured loans are one of the most popular options for people with a low credit score to get a home loan because they are efficient and make the process a lot easier for home buyers. Through a government insured loan the homebuyer can get a much better loan option than they would otherwise be able to get with a lower interest rate and usually a significantly lower down payment which makes these home loan options particularly great for first time home buyers. Once you get a government backed loan you go on with a normal mortgage just like everyone else. You just have the added benefit of not being held down by an insanely high rate or unfair terms just because of your credit score. If you are looking to buy a home an think that you might be eligible for a government backed home loan, talk to your local lender or better yet, you can find a huge wealth of information online from government sites that will answer all of your questions about how to get a home loan with bad credit.