I am in Michigan, we are 2nd in the US in forclosures, I have a 610 mid score with a not so good credit history. I have found a home that I love but can't get financed for it without at least 10% down. I don't have that much and don't have anyone to co-sign for me. A few years ago, I was told I needed a 550, then last year a 600, I've surpassed both and still can't get a home eventhough there is one for sell on just about every block. Any ideas on where I can get a zero down approval for a $100,000 home with a mid score of 610?
Thanks all who've responded. I've tried FHA and there response was the one of two things remaining on my credit needed to be paid on for 6months before they would approve. I've considered doing a personal loan for the down payment, but I don't have any collateral to stand on. The home has equity in it and will most likely be worth at least 50thousand more than what their asking in a year or so. The home is currently bank owned. Has anyone heard of a lease with guarantee to buy? I wanted to try that as a possible option.

Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.

Of course, some will cost you more money in the long run, but a home it's still one of the best investments that you can make, so, in many cases, it's worth it, especially for the first year of ownership.

You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. You can find some bad credit mortgage lenders listed on this page on and off:

http://www.axalda.info/bad-credit-mortgage.html