What's the best I could do with a 560 fico and 8k down

using some of that $8k to improve your credit score to get a better rate and program.

As of right now you would need to put at least 10% down , so that would give you a loan amount of 80K , once you get your scores to 580 you would only need to put down 3.5%. Give us a call and we'd be happy to go over your scenario and give you your options right nowand how to get your credit up to 580 if that's what you choose. 800-991-5309

You would need to get to 580 and then FHA would be an option with 3.5% down. Give us a call we would love to walk you through it. 800-446-9043 ext 801

FHA allows down to 500 credit score with 3.5% down. Of course it is difficult and having a larger down payment is helpful but it is possible. The main item is the debt to income needs to be at 31/43. Also showing that the credit issues are seasoning from any lates and that it wont happen again is needed.

While you will hear and see that the FHA allows credit scores lower, it is hard to find a lender that will offer a loan below 580. These loans still have a special review by credit committee and special pricing, you need to raise you score to 620 to get better rates, so take a little time and work on it. Get all your card balances down to an area closer to 30% of limit, pay off what you can, and never be late on a payment and you will quickly reach you goal. If you need to work with credit repair, you can start with your county, they often have great resources at no cost.