100% loan, Owner Occ 1x buyer

Most recent fico pull was 563

I know this is the “impossible dream” mortgage. But if someone can make this happen, or advise me, I would appreciate it.
I can come up with some funds by the end of Jan/ early Feb, but only a couple of thousand.


There are a few lenders that will do a 560 purchase to 100%, but there are many stipulations to go along with it. It must be OO, you must meet income requirements to go full doc, and you must meet tradeline requirements. Its a long shot. :-\

I would work on your credit score before you purchase your home. Check out www.myfico.com to see what a diference your score makes.

Like the others here have said, there are lenders that will finance you with your current score, but it also depends on the contents of your credit. Is your score what it is due to consumer credit or is it due to larger purchases in default, like cars, student loans etc… .? I work as a loan officer in Atlanta and have seen lower scores get financed.

In your case, is the home you are trying to purchase being sold by a private seller of a institution like a builder or developement company? Private sellers may be more open to "creative " financing to help you get your home. After your purchase continue to work on your credit and refinance into a better situation 6 to 12 months later. If time isn’t a issue I would listen to what the others have said and work on improving your credit before attempting to purchase your home.


MILA does 100% with a 560 mid score. Pretty sure you can only access them through a broker.

You can get 80 to 90 percent financing (meaning 80 to 90% of the purchase price). Tell your real estate Agent or seller that you need a seller who can help you with the other 10-20 percent as a seller carryback. Have the carryback short term, like 5 years.

Make your payments on time for 6 months to 1 year and you can get refinanced to pay off the 2nd mortgage from the seller.