Financial mistakes in your past don't automatically prohibit you from achieving your goals for the future. Rather than assuming you will be denied a mortgage because of a low credit score or other factors, keep an open mind to various opportunities that are available.

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Various government programs exist for the sole purpose of making homeownership a real possibility for more people. If you have been turned down when applying for a conventional mortgage, that doesn't mean you should give up on your dream.

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From the FHA Loan and FHA Choice Loan to the U.S. Department of Agriculture's Rural Housing Loan, there are legitimate mortgage options for people of low to moderate income levels with less than perfect credit scores.

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Depending on which option is right for you, you can have access to fixed or adjustable rates as well as mortgages with no down payment requirement and no mortgage insurance. All of these factors can contribute to a lower monthly payment, allowing you to enjoy the benefits of homeownership while building your financial strength.