Where can I get a mortgage with less than 500 credit score?
With a FICO credit score less than 500 the mortgage you will get will be from a Sub Prime lender(as someone else mentioned) and will have a VERY High rate (possibly close to 10%+) and will probably have a 2-3 year prepayment penalty. Find a nice apt/house to rent that meets your minimum needs and begin working on your credit. You can radically increase your score within 12 months, and you will get a lot better interest rate. In your case even if fixed mortgage rates rise 1% over the next 12 months(probably not likely)you will still be in a better shape than paying on a high rate mortgage for the next 2-3 years.
