Minimum score is 580. The 1,000 is not a down payment; it take the home off the market and reserves it for you. If you are deemed unfinancable then you get it back, otherwise its applied to closing cost. The USDA loan program is ZERO down with a minimum credit score of 581 - so its possible to move in with just 1,000. I'm a lender for LGI in another region. It's worth going by and getting prequalified on the spot. Also, if you have credit issues we work with you to get corrected to purchase in the future. Why rent when you can own
No. If you have bad credit <620 credit score, they won't sell. However, if you meet >=620 they do something like 3% down and the $1000 to cover closing.
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