First time home buyer with poor credit

[needhelp]

I am buying a home from my parents their balance is 200k or less. The house has been appraised before around 1.5yr ago, and it valued at 400k. My FICO score is 580. My yearly income is 45k. I dont have a lot of debt but have a car loan of 600 a month. What do you think my chances are of getting approved for the loan.

[nittygritty]

wow car loan of 600 thats a lot.( sorry had to comment) think of selling the car buy a cheaper one. you might be able to get a loan with a score of 580 did you check all your reports to make sure there are no errors. having a down payment might help since you dont have steller credit. like me- my credit score is worse than yours.Good luck on buying your home

[apple27]

I heard that if you have a credit score below 620, don't bother. But I would try anyway. They have a lot of programs for first time home buyers maybe you could check into. If all else fails, why not ask your parents to let you make payments to them? (As high as a payment you can afford so there is less of a chance of them getting screwed)