A: Yes, it is possible to get a mortgage if you have bad credit. However, you may have to pay a higher interest rate and/or make a larger down payment. There are also government-backed loans available for borrowers with bad credit.
Q: What are the closing costs associated with getting a mortgage?
A: Closing costs are the fees that you pay when you close on your mortgage. These costs can include the loan origination fee, the appraisal fee, the title insurance fee, and the recording fee. Closing costs typically range from 2% to 5% of the loan amount.
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