Q. How can I find a mortgage lender that will finance me with bad credit? I have had some down falls in the past and I filed for bankruptcy years ago. I just need a fresh start.

A. As you've probably heard, it can be a lot harder for people with blemishes on their credit report to get mortgages these days. Many lenders have stopped offering programs for people with credit scores less than 620, which is generally considered to be the top of the subprime credit category.

You didn't say what your credit score is, which is something you definitely need to find out before beginning this process. If you've been out of bankruptcy for a number of years and paying bills on time for awhile, it may not be as bad as you think.

That being said, every mortgage consultant we've spoken with says that the credit score isn't the sole determinant of your credit worthiness. Other key factors are:

• Do you have at least two years of steady, salaried income that you can document (usually with several years of tax returns)?
• How much other debt do you have? Ideally, the total of your monthly obligations, including the potential mortgage payment, would be 36% or less of your monthly net income.
• How much are you willing to put down? If your credit score is below 620, 100% financing loans are no longer available. And if you have a low score, it is more likely that lenders will want to see you put as much as 20-25% down.

The better you look in these three areas, the more likely it is that you can find a loan even with a credit score in the 500s -- especially if you're a first-time home buyer. If you're under 500 though, your time is better spent working with a credit counselor to improve your credit score and get you that fresh start you're aiming for.

Wells Fargo is one major lender still willing to work with subprime borrowers, but you've got to call or visit one of its offices. It's no longer making loans through mortgage brokers.

Another route is to ask friends and Realtors for a mortgage broker who is still working with subprime borrowers and has an underwriter on site. They work for a lender and are responsible for the up-or-down decision on your application. If you can speak directly with them, they may be more flexible. And if an in-house underwriter won't approve your application, the broker can still seek out other lenders.