Buying new home but poor credit?

My parents are divorcing and my mom decided to move closer to family which is about 2 hours away. We've found several homes but the problem is that my mom's credit score is around 550. I can't remember the exact number but it's close to that. May be a little higher. Not completely horrible credit but still should be better. The house we are in right now is under my dad's name so my mom will be eligible for first time home buyer. Does anyone know a mortgage company that would give out a loan to someone with poor credit? We know the interest rate would be high. We're just trying to find someone who would help. We have a few names such as Lending Tree,GMC,Quicken loans,And Century point but we have to wait until tomorrow to call since today is Sunday. And please do not say my mom should work on her credit,we already know that but every house we've looked at that was for rent would cost over 900 dollars a month. Any information you can give will be greatly appreciated. Mom actually decided to rent a home for about a year or so while working on improving her credit. Thanks though. =]

1 month ago - 4 answers