Home mortgage loans for people with poor credit are available at reasonable rates if you find the right lender. With some time spent online researching for low credit score lenders, you can base your financing decision on loan estimate numbers. Even with bad credit, you can find flexible terms, so you can find the right home loan for your budget.

The limit on your home-equity line of credit has been reduced, causing the amount of debt you have compared with the limit to shoot up — that’s bad news for your credit score.

If you’re a little savvy about credit, you probably know that each of us is entitled to a free copy of our credit report, once a year, from each of the three main credit-reporting agencies. You can access these easily online at annualcreditreport.com — and if you’re willing to pay a few dollars, you can get your credit score, as well.

FICO stands for the Fair Isaac Corporation, and you can thank them for the credit scores that most major lenders use to determine if you’re worthy of a mortgage. FICO takes the scores from all three major credit bureaus and combines them into one score. The credit score is a big part of the formula when it comes to determining whether you get a loan. A low score can get you in the door, but a high score will get you much farther.

Credit scores — they’re like report cards for grown-ups. It’s a three-digit “grade” you get on a scale that ranges from 300 to 850. Your score indicates your creditworthiness to potential lenders, banks, landlords, insurance companies, and even to some employers, for instance. I’m sure you know that the higher your score the better.