How can we recive a loan on a house with bad credit?

We just rented this beautiful house for 400 dollars a month. The guy is 85 years old and he is trying to sell it for 35,000. Now our situation in trying to get a house is before he dies and we have to move out. one Im 17 and im asking this question for my parents. There credit is weird. my dad has no debt but has a credit score of 450 and owes 2500. He never owned a house. he payed his car off with cash. never got a loan. My moms credit is 550 and has debt up to 55,000. She has gotten loans,owned a house, pays for 2 cars. How can we get a loan in our position? We need up to 35,000 or somehow get a deal for first time house buyer with my dads non house buy history. Thanks for reading and helping.How can we recive a loan on a house with bad credit?
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Let's assess the situation based on the information you provided:



1) Your parents credit scores are relatively low - Banks are not going to be lining up to give them a mortgage.

2) Your parents have a lot of debt ($58,000 if my math is correct) - This will probably make it more difficult to borrow but it depends on their income.



We really need to know what your parents income is to assess the situation, but I'm thinking they probably don't have a snowball's chance in hell of getting a mortgage loan.
With those credit scores, your parents won't get a mortgage from a traditional lender.



If they are on friendly terms with the owner of this place, why not just do an owner financing deal?