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Bad credit mortgage financing can have higher interest rates than those for standard mortgages, sometimes by as much as five per cent. One reason for this is that bad credit mortgage financing is seen as a risky business. People who have had problems with credit and debt in the past may do so again in the future, posing a risk for lenders. As a sub prime mortgage, bad credit mortgage financing is available to people with impaired credit, and this type of mortgage is similar to other mortgages in that applicants can choose interest types and repayment methods to suit their pockets.

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