Hi, I'm trying to purchase a single family home in Maryland, but our credit scores are below 580. We need to move quickly, due to bad tenants in the building. My husband is self employed and I just started working after a medical illness. We have credit issues and are working on correcting them but it will take time. Any help is appreciated.

Hello a:

You're going to need a hefty down payment... Or, you're just going to have to wait until your score is better.

Your need to move quickly doesn't really matter.

excon

Most of the lenders in the sub prime market has went bankrupt so finding one is going to be harder. The larger down payment you have the better.
The only real choice is to go to a mortgage broker and see if they can find one still doing a higher risk market.

SO the saying is not true that you can buy a house with bad credit and no money down?