Yes, it is possible to obtain a mortgage with bad credit, but it may be more challenging and come with certain limitations compared to getting a mortgage with good credit. Here are some options to consider if you have bad credit and are seeking a mortgage:

1. Specialist Lenders: Some lenders specialize in providing mortgages to individuals with bad credit. These lenders may be more flexible in their eligibility criteria and may consider factors beyond just your credit score when assessing your application.
2. Higher Interest Rates: Lenders may offer mortgages to individuals with bad credit but at higher interest rates to offset the perceived risk. While this means higher monthly payments, it may still be a viable option if you can afford the payments and improve your credit over time.
3. Large Deposit: Offering a larger deposit can sometimes offset a poor credit history, as it reduces the lender’s risk. Saving up a larger down payment demonstrates financial responsibility and may improve your chances of getting approved for a mortgage.
4. Government Programs: In some countries, there are government-backed programs designed to help individuals with bad credit obtain mortgages. These programs may have less stringent credit requirements or offer assistance with down payments.
5. Co-Signer: Having a co-signer with good credit can strengthen your mortgage application. The co-signer agrees to take responsibility for the mortgage if you default, providing reassurance to the lender.
6. Improving Credit Score: Before applying for a mortgage, work on improving your credit score. This may involve paying off outstanding debts, making timely bill payments, and reducing credit card balances. Even a small improvement in your credit score can make a significant difference in your mortgage options.
7. Credit Repair Services: Consider seeking assistance from credit repair services to help address any inaccuracies or negative items on your credit report. Improving your credit history can increase your chances of qualifying for a mortgage with better terms.

It’s important to research and compare different options carefully before applying for a mortgage with bad credit. Be prepared to provide detailed documentation of your financial situation and be transparent with lenders about your credit history. Working with a mortgage broker or financial advisor can also help you navigate the process and find the best solution for your individual circumstances.