I have submitted to numerous loan adverts on here,,Need to find a loan for First time buyer with Credit score 540. Loan for $40000

Not gonna happen until you do some major adjustments to how you approach credit. Also, very few lenders will lend on a $40K home.. current guidelines limit how much a lender can charge to originate a loan.. it's based on a percentage of the loan amount, and for $40K, it's not profitable enough for lenders to do this low of a loan. But the biggest problem is your credit score.. 540 is extremely low and most likely reflects zero satisfactory accounts.. so there's no lender in the country that will lend to someone who has a proven track record of never paying anyone on time.. It's best you contact a local credit repair/restoration company and work on rebuilding your credit, and I would suggest you seek out some credit counseling agency's which will help you get educated on how credit works and why it's important to maintain and monitor your credit profile. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

William gives a good answer.

Sorry, the odds of getting a loan with a credit score of 540 are basically zero. To make it even worse, small loan amounts (under $50 - $60,000) are very difficult for lenders to provide due to silly government regulations. You really need to work on improving your credit. Once that is done, then try for a loan.

You should try to work with 1 Trusted Mortgage Professional who can actually provide a loan for the amount you are seeking and that should be Step 1. Once you find that person, work with them to help with your credit as you need to get your score up as it will not only benefit you with mortgage options, but for anything else you need credit for, such as Insurance, Credit Cards, Installment Loans, and even a potential job offer. Good Luck with your search!