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sosabn

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15 People Helped
My credit score is a 490-520 based on which one you look at. I need a home loan. Any banks for me?
I have until September to purchase the home we are living in. I am in a contract for deed agreement where I rented for 2 yrs and have to buy before 2 yrs. Any place I can get a loan with a low score?

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6 Contributions
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You could try a hard money loan and then work like hell to bring your score up within the year before the hard money loan is due....most mortgage brokers know hard money lenders.  You could try getting in touch with them via a mortage broker, and then during this year, work with the broker regarding increasing your score sufficiently to obtain the mortgage via FHA.  Wells Fargo will do FHA loans down to credit sore of 500 or 520 I believe. 

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Try and extend the land contract .  To be considered for  FHA home loan you need a minimum 620 middle credit score.  Extend the contract and build your credit score.  Read all you can under credit scores on this site.  Good Luck.

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