Due to all of the changes in the guidelines for conventional & FHA financing, I do not know of any lender that will give a mortgage with a credit score below 620. The gentleman mentioned the exception below but that is a "rare" case and you have to have "extenuating circumstances" that shows your had excellent credit before the situation. The loan is probably portfolio'd at a local bank and is probably on an adjustable interest rate, not favorable to most people. One person mentioned to purchase on contract which is an option but that is not getting financing through any lender. You are negotiating directly with the seller and agree to pay him for a certain number of years and then you try to get a loan through a lender at that point.
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