I want a home. But my credit score is 520. PLEASE HELP!?

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essentially a score of 530, assuming it's your middle score and not your high score, will require you to make a sizeable deposit in order to obtain a loan. usually with this kind of score the deposit needed is around 20%. quite a steep price to pay really. some lenders will give you 100% loans however the rates will be overwhelming and if you don;t keep on top of your payments, you will foreclose. stay in the rent house and either build up your credit again or start saving up for that deposit. if you can get your score around the 650 and up mark you generally won't have to pay the deopsit.

I want a home. But my credit score is 520. PLEASE HELP!?

A privately financed sale might be an option - if someone will essentially sell you the property in return for a monthly income, rather than a flat out payment.

Otherwise, you are better off working to repair your credit. Pay off all your credit cards, and work on not missing any payments for at least a year on anything. Once your score is up a little, you'll have a better chance of buying something affordable without huge costs/restrictions.

I want a home. But my credit score is 520. PLEASE HELP!?

WOW talk about a lot of answers. some of them, from the mortgage banker and broker were reasonable. the others that tod you not to buy (if you can) or that you cant because of your score and even the one that told you that you will have to take a 2/28 loan with a pre-payment penalty ... well lets just say THEY ARE WRONG!

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I want a home. But my credit score is 520. PLEASE HELP!?

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