560 is not too far away considering you are on the mend. The real key will be what your credit report really looks like and how long it will take to get the score to a minimum level. I just worked with a client who had a 560 credit score 30 days ago and now she is approved for a VA loan so it can happen. Is there a time we can talk by phone to review your full credit report?I can be reached at 603-543-3700 ext 1Don LaPlume

It would be tough to buy with a score that low. There is a lot of risk for the lender with a score that low and the government is monitoring mortgage companies on how many defaults they have and to make sure it is not too high. That is why it is unlikely to get a loan where you are credit-wise now.Ken

In today's world, the big banks are just too busy to take the time to help someone like you that needs some guidance on how to get your scores up to where you will qualify. If you are not loan ready today, they will likely just send you packing. Contact a local Mortgage Banker/Broker, rather than one of the big banks. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. More importantly, He/She is trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

560 is a low score and most lenders want to see 640 or above, however there are lenders out there that go as low as 500... The guidelines are very strict, but none the less, there is a loan product out there... to get the best options, you need to improve your score. Contact a local mortgage broker, not a bank, and apply with them.. They can analyze your credit report and show you the necessary steps to help your score improve in the shortest time. If it's too big of a job for them, they will refer you to one of the credit restoration companies they use and trust. Being able to look at your complete profile is crucial when there are low scores involved. Some folks try to attempt to repair their own credit and do more harm than good, so it's best to leave this to the professionals.. WilliamAcres.com