Remember, here are a few aspects that you will need to learn if you are a person in the home loan for people with bad credit category.  Remember that every secured loan requires some sort of collateral.  If you have some good collateral such as another real estate property, then you will have a higher chance of getting the loan that you want.  Remember, when you have collateral on the line, you could potential lose it if you default on your loan.  This means you have to absolutely make sure that you know that you can pay off this loan or you your collateral will be possessed by the bank and there’s nothing you can do about it.  However, if you can generate enough money from other means, the you might try and obtain a loan based on how much you make on a monthly basis.