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Things Bad Credit Lenders Don't Want You To Know By: David Lee
Getting The Rate You Deserve,Bad Credit Mortgage. Don't get fooled into a higher interest rate. What you need to know about Bad Credit Lending.

The next time you apply for a mortgage ask your lender what is the yeild spread premium (ysp) that he will be receiving for the rate he is giving you. Lenders, Bankers, Brokers make money by giving you a higher rate then they could give you. If you applied for a conventional loan, VA Loan or a FHA Loan and were approved, then you are intitled to the best rate for that loan.
Don't be fooled that a little ding on your credit report will raise your rate, and give you a bad credit loan. You are either approved or you are not, telling someone you have to have a slightly higher rate because of a 30 day late, or some other little ding should be in my opion criminal.

Now there are Bad Credit Mortgages that the rates are higher, but even still if the Banker is getting YSP then he can give you a better rate.
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