Larry Gray (lgray_312_247)
#1 ranked lender in California - 978 contributions
Normally, with such a credit score I would say the only avenue you would have is a hard money loan which allows you to borrow up to 60% loan to value, though in some cases as high as 65%. Rates and costs are quite high compared to a Fannie mae or Freddie mac standard conventional or government loan. As Joe Metzler commented, you are best off working on increasing your credit scores. Having worked with so many borrowers with credit issues I can say that it need not take all that long to increase your score from 537 to 580, which is about the minimum score we can work with for a government insured loan. However, you can qualify for a conventional loan with as little as a 620 mid fico score.