Is there a way to get a mortgage loan with very low credit score?

My husband and I both have bad credit scores…his is bad b/c we found out his mother had stolen his social security number and had been using it since he was a toddler. Mine is bad b/c I just was desperate to pay for college but then I couldn’t pay it all back and it went downhill from that but the house would be going in my husband’s name and not mine.

Our situation is this: we pay 0 a month for rent and don’t see why we can’t get a loan to finance us because we don’t have problems paying this amount with only my husband working right now. If we got this house it would benefit us b/c we would live closer to downtown where I might be able to find a job in walking distance (I don’t have a car and my husbands needs our only means of transportation for his work). I called up a mortgage lender and she says the only way we can get financed is if we had a credit score of 620. The town we live in has very very unlimited number of houses for sale (right now…5) otherwise there is a bunch of land to build a house on…but we wouldn’t be able to afford that.

The mortgage lender said the only other way for us to get financed is going to a bank which they would look at our credit plus would want a certain amount for a down payment and we only have 00 down b/c when we moved here we had to put a 00 down to rent this house as well as 0 to put the utilities in our name b/c the town bases off the highest amount the previous owner had to pay…which is bull.

I just need to know if there is any options out there for us…we live in Iowa…or is there any Grants that can help us….I tried to look up grants but I just don’t know who is a true credible site to use. Please help because we would like to start our family in a home we can call our own.
The Realtor calculated what our payments would be with the insurance as well as property taxes at is at 0 to 7 a month
We took his mom to court and all she had to pay was 00 and it didn’t go to us
And we have already contacted Social Security, they said they were going to do their own investigation…but have not gotten back to us and that was several months ago…my friend says that they probably just shoved it to the side…IDK??
IF YOUR NOT GOING TO REALLY HELP US THEN DON’T ANSWER!!! I WANT TO KNOW HOW TO GET A HOUSE WITH OUR CREDIT SCORE NOW AND DON’T ANSWER IF YOUR GOING TO SAY THE SAME CRAP EVERYONE ELSE IS SAYING…I’M SICK OF SEEING THE SAME THING OVER AND OVER. OBVIOUSLY THERE HAS TO BE SOME WAY BECAUSE THERE ARE PEOPLE OUT THERE IN WORSE SITUATIONS THAN US AND YET THEY CAN GET FINANCED FOR A HOUSE.

Chances of getting a mortgage with a low credit score but have 20% down, & a co-signer?

Currently, I’m renting a 1 bedroom apt. I’ve found a 2 bdrm condo I’d like to buy. Even with the mortgage payment, utilities, taxes, & insurance, its about the same amount of money that I’m currently paying in rent. So its not an issue of whether I can afford it. But my credit score is only in the low 500s. I’ve only been at my job for 2 years, before that I was in school. As I said, I have 20% cash to put down. My co-signer is my grandmother, who has no debt. She’s a small business owner, which the business has no real debt, maybe a few thousand owed to vendors at any given time. The building the business is paid off, as is her house & car. Will her credit help me enough to qualify for a loan?

can a person with a very low credit score qualify for a mortgage?

5 years on the job and have 00.00 ,want to buy a house worth 80K
any options?no co-signer available.