My best advice is to work on improving your score. It's unrealistic to expect a lender to approve a loan to a borrower with that low a score. Check out my blog on this website "First Steps" and pay attention in particular to the part about credit. Good luck!
It is possible to qualify with a mid fico score of 520. Having said that, I will say itis not easy! There are very few lenders that are willing to provide mortgage loans,FHA insured, with that low of a score. We are one of them. It is critical that youshow you are on the way up by in establishing better credit by managing your debts far better in the past 12 months. Also, you will need to come up with a minimum down payment of 10%. It may be you need to take steps to get to a mid score of 580 as rapidly as you can. That is the minimum score to qualifyfor requiring only a 3.5% down payment. I will refer you to an associate in Washington if you would like. I only do mortgage lending in CA. www.graylending.com, nmls #335290.
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