The house iam asking to buy iam renting from from family. How do I go about get loan with credit score being around I think 530-54

you are unlikely to be able to get a loan with a score of 530-540...get a lender credit report . review it and try to fix / payoff items as needed to improve the score ...if buying from a relative - offer them some cash upfront and then ask them to carry the balance as a private note that you end up paying to them directly ( versus getting a loan at a bank/ lender)

If your family is willing to work with you, it may make the most sense to talk with them about buying on a "contract for deed." This is where you buy the home and have your name on Title, but the Seller (your family member) still has a "vested interest" in the property and carries the financing (if they have a mortgage themselves to pay still). Once you can get into a qualifying position for a home loan (hopefully within 1-3 years at most), you could then "refinance" this property you own into your own name. Your family member would then be removed from the title and the mortgage would be in your name only.However depending on WHY your scores are lower, there may actually be loan programs available for you to buy the home still in your name. In order to explore these options, you would most likely need to talk with a wholesale mortgage broker, who could share what might be available. If you are planning to buy in Minnesota or Wisconsin (the states I am licensed in), I would be happy to review your situation and let you know what options might be available. Feel free to call me at 651-636-2840 Ext 12 or email me at dyoungs@progressivels.com anytime. Thanks!