I need a loan!

It's possible, but much more info needed to advise you.. First, with a 550 credit score, it's obvious you have some major derogatory credit.. Certain derogatory items have mandatory waiting periods.. BK, Short Sale, Foreclosure, all have mandatory waiting periods.. Also, If you have a judgement, tax liens, delinquent student loans... then regardless of what your credit score's are, you wont qualify until those items are dealt with.. Realistically, you need to contact a mortgage banker/broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with a Banker/Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the banker/broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the big box banks. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893