I have a 540 credit score and need a mortgage?

i just got notice from my lanlord that he is selling the property - my family has lived here for 4 yrs its a very nice house appraised at 92,000 - lanlord is giving me option to buy for 40,000 problem is my credit score is only 540 and i cant get a loan - i have one month to purchase the property or move - any advice on where i could get a mortgage? i have no family or friends that can help and the lanlord wont do a land contract.i need advice fast - please help!

I have a 540 credit score and need a mortgage?

Why would landlord sell for less than 1/2 of the appraised value?

The may be loan program for your credit score. I am mortgage broker. www.easy-loan-application.com

I have a 540 credit score and need a mortgage?

You are going to have a very hard time right now with this, most banks are feeling the pain for the subprime problem. I would try and get the loan from one of the loaning websites out there.

I have a 540 credit score and need a mortgage?

I would suggest you look to family for a co-signer. Try your parent or grandparent. The amount you want is very small. And, if the apprasal is correct, then it%26#039;s fairly low risk for the bank as you%26#039;d own well over 50% of the house already.

I have a 540 credit score and need a mortgage?

Wow, I%26#039;m not sure what you can do in that short of time. What state is it in. Some states have first time home buyers programs that will help you with the loan. Almost everyone who will lend you money with a low score will need you to put some money down to show that they are invested in it. Are you putting money down? You can try an investor, someone who will but the home and rent it to you until you can get it in your name. You won%26#039;t be able to get it for that price, most investors will want to make money. Do you have income for something like that? I would look into finding someone who will buy it and rent it to you for one year, That should give you enought time to get your credit score up, Then have them sell it to you for $50K. They will make 25% off their investment and you got the house for 40K below the value. Even I would do that.

I will be very hard to find a lender with a score that low without any downpayment unless you have a good income. I hope that helps you.

I have a 540 credit score and need a mortgage?

Try: http://www.NACA.com

I have a 540 credit score and need a mortgage?

I am sorry but you are not ready to buy a house yet. Move some where else and rent. While you do that work to increase your credit score and save up money for the down payment. If you do get a mortgage it is going to be a rip off sub-prime mortgage and it could really cause you some problems and you will end up paying a huge interest rate. Rent for a couple more years and fix your credit and then you will be ready.

I have a 540 credit score and need a mortgage?

I smell shark attack throughout this whole series of replies.

Don%26#039;t be taken in!