If you really want to buy now, a 570 score certainly isn't good, but I can refer you to a loan officer in Northern California who does FHA loans down to a 500 score - with 50% down and taking a 15-year fixed loan, you would have a real low interest rate and wouldn't have to pay any monthly mortgage insurance. I can do FHA loans down to a 600 score, so if you worked on things a bit I'd be able to help you out once you hit that level (I could also help you work on your credit).
Jeremy and John
Every lender is different. Some can do loans with credit scores around 580 and some around 640. Also, it depends what is going on with the bad credit too. Are there judgments, collections, charge-offs, late mortgages? All of these have to be determined before figuring out if you can qualify. Do you have a minimum loan amount in mind as well?
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