what if you had $15K with a credit score of 520 average and your brother-in-law is selling his home to you?

for $140K, what are my chances of getting a loan with that down payment and the seller agrees to pay closing costs?

Public Comments

1. More than likely your % rate will still be high as 520 is not the greatest credit score - unfortunately. I would shop around especially since you have a down payment to see which lender can offer you the lowest rate.
2. I could get you approved www.quickenloans.com check out the fresh start product its your only shot.
3. It depends on a few other factors particularly what the home will appraise for; it becomes just a question of numbers. Your income will play a part in this as well. I know probably 6 different loan officers who could likely get this done for you. Fill out the free evaluation form at www.totaldebtsolutionsllc.com and I will have 1 contact you.
4. There are a lot of factors that go into getting a loan. Credit score is one of them. 520 is a pretty low score and a lot of banks might balk at financing a loan. Job history, income, debt ratio are also important things that banks look at. Now, that isn't to say that you can't get a loan, but you will most likely have a high interest rate and a high payment. A good loan officer will be able to get you something, it just depends on all these things.
5. You can resore the credit report in 1 week ....then buy the home. Here is some additional info. Hope this helps.