If you are interested in buying a new home or refinancing the one you are currently living in, but think that you are out of luck because you have bad credit, think again.

The mortgage industry is probably larger and more diverse than you realize. You no longer have to go down the street to your local bank to get a mortgage where they only work with people with excellent credit.

There are literally thousands of mortgage lenders across the United States, better known as wholesale lenders with programs specializing in lending money to people with challenged credit.

These lending institutions are called wholesale lenders because they work with brokers, who in turn, find the wholesalers customers.

A broker is not a lender, they council and educate you during the mortgage process from beginning to end, they also are responsible for finding a lender to accommodate your mortgage needs.

Mortgage brokers have access too literally hundreds of lenders across the country. So chances are, they can find you a lender with a specific program to fit your needs. Regardless if you have poor credit or need a program that offers no money down.

Keep in mind, the mortgage industry is a very competitive one, and these brokers and wholesale lenders will compete for your business, so let them.

So don't ever feel as though you are at the mercy of the mortgage companies or the brokers just because you have bad credit. Best of Luck.