Molly gave you great answer to your question. Unfortunately, for you, any loan from a bank these days, it requires a person to have decent credit. If, on the off chance, that you have a good personal relationship with your bank, then you may be able to obtain a loan, but at a much higher interest rate since you say your credit is bad. Doing a contract sale with an owner is an option, but I would not recommend you sign any documents until an attorney, who represents you, reviews that contract...better safe, than sorry. What I would strongly recommend you do is set an appointment with your lender to counsel you on what steps you need to take to improve your credit situation, that is the best solution to addressing your short and long term needs. If your lender is unable to assist in this process, please contact me and I have a few lenders I would highly recommend for you to set an appointment and meet with. You may be surprised on the information and advice they can counsel you on to get you on the right track in the shortest amount of time!