Are there any companies out there willing to do FHA loans with a credit score of 580?

not very likely, lise. supposedly there are a few lenders out there who'll charge you a higher rate for the privilege of taking a loan with that kind of score, but they are certainly a rarity.

And a co-signer with excellent credit wouldn't help?

At this pint, insted of rushign in to buying, you will be better off improving your score to 620

Lise

A co-signer will not help with credit. The bank will use the lower of your two scores anyway. Co-signers typically help by bringing additional income to the table.

i long ago began to go by this adage: a co-signer doesn't make a bad loan good.

i think sunnyca is right - fix what's wrong with the credit report and try later.

does cosigner helps as trust for main owner of loan?

what's that mean litisham?

Very interestign question by litisham

man i feel stuck in some sort of parallel universe here...what in the world (or what out of the world) is going on? where did yall come from?

i want to ask if owner of loan fails to pay installments then, is co signer is responsible for payment?

a cosigner is 100% liable for payments at all times. that doesn't mean that a borrower ought to pass along the responsibility, but it does mean that a cosigner needs to be prepared to always have to make payments.

people who lend money don't care at all who actually makes payments as long as the repayment money comes in.

Thats correct

Both of them are equally responsible for makign payment

Lenders do nto care who pays as logn as they get paid. You cannot blame them also, becuase both of you signed on the dotted line