I am currently looking to purchase a home and my credit score is in the 500's, am I able to qualify?

We do have some FHA programs in California that go down to 500 score. There are some parameters that need to be followed and some FHA counseling, etc.. but we have a shot at it. It is 3.5% down. Go ahead and get into touch with me to see if you qualify. P: 888-320-7888 - ken@mortgagesforamerica.org - www.MortgagesforAmerica.org - Ken Burrows

Sorry 620

10% down below 580 to 500 Fico

10% down below 580 FICO to 500

See sources for 500 FICO, with 10% down.

It's best to determine why your scores are low and see if there is a relatively fast way to improve them. A LOCAL mortgage lender should be able to refer you to reputable credit repair firm. Otherwise yes, FHA can work with scores down to 500 but many lenders impose their own minimum score requirements. Good luck to you!

With that low of credit score it will be hard to find financing, especially with zero down. FHA loans, which are typically the best option for buyers with lower credit scores and low down payments require a down payment of at least 10 percent with credit scores below 580.

Charlie had the first half of your needed answer -- find a Local Licensed Mortgage broker to help you review why your credit is so low, and to see if there is much that can be changed quickly. Then he should be checking into the CA down payment assistance program as well.You might want to check with a Bay Equity office in your area for such assistance.

We need to take a look at your credit to see the reasons it is low. In the past I have done many subprime before it ended so I have a lot of experience dealing with lower credit please call me at 702-605-4984. Kate

Depends on your age. If you're at least 62, your credit score doesn't matter with my programs. Somebody with a 500 FICO score receives the exact same interest rate and fees as somebody with 800.