Bad credit but 50,000 down???

Unfotunately, nothing overcomes bad credit. A cosigner does not. A large down payment does not.

What is the credit score?

I have seen FHA recently advertised own to a 530 credit score and a large down payment would seem to make them happy, but, score below 530 I have not seen. While I have seen it, I am not sure they really do it.

A large down payment can sometimes get one a hard money loan, not FHA.

Angela, what is your definition of "bad credit"? As stated above, there are a limited amount of lenders going below the 620 credit mark.

The programs I know are still available along select states on the East goes as follows:
~ 540+ Credit = 10% Down Payment
*Must provide 12 month rent verification*

~ 580+ Credit = 3.5% Down Payment

Hi Angela,

To qualify for a Federal Housing Administration (FHA) Loan, you need to have a credit score of at least 620. Along with this bankruptcy on your credit report (if any) should be at least 2 years old, and foreclosures (if any), at least 3 years old.

So, can you tell what your credit score is, and what are the negatives on your account?

Thanks,

Sandra