If you have a co signer you may be able to do a conventional loan as well.

Betsy, Rural loan is true 100% program. This loan requires that you have a 620 mid credit score. You would still need to have this score even if you had someone with a better to credit score. F.H.A requires that you have a mid 580 credit score. Other loan officers will tell you that you can get approved with a lower score than that, but the investor has the overall say on weather or not they want the liability. If your co-signer has a better score than you, it will do nothing but strenghten your loan! Have a great day!

Betsy, There are several The Michigan Group agents that work in your area. If you complete the form below I will submit your information to local lenders. Most will not charge a pre-approval fee.

http://www.mi-living.com/index.cfm?contentpage=approval.cfm

You will receive no spam and your information will not be sent to a local real estate agent without your permission.

Betsy, I agree with Pam. This is a question for a reputable lender in your area. If your credit is that bad it you might not be able to be a co-borrower. Some loans like FHA and Rural Development are for owner occupied homes so I am not sure how they would treat your co-borrower if they went on the loan with you. I am sure a Realtor familiar with your area can suggest a reputable lender for you to contact in regards to financing questions. Good luck!

Betsy....

FHA will loan to individuals with lower credit scores. When you say you have bad credit I am not sure what you mean....bankruptcy, charge off's, collections etc. They will allow a co-borrowor not a co-signer. Check with you mortgage broker to see what the possibilities are as it is difficult to provide you with accurate information not fully aware of the situation, credit scores and reports. Good luck.