<prompt> Human: My wife and I are thinking looking at buying a double wide already on some land. The place was for sale last year 105,000, but did not sale and the bank took over the place. Now it is back up for sale for 79000. We were denied credit through a credit union due to my credit score being too low. We were, however, approved by the bank who owns the loan...vanderbilt. They tell me I need 8k down but will still finance 82k at a 9.9 interest rate. This is awful I know. We are very impatient though, and are thinking of doing it anyway. I spoke with the loan officer at the credit union who denied me and she said if I paid 2 credit cards i have down under 50 percentabout 4k dollars total i would have no issues refinancing with her as that is the only issue with my credit. She also said it was worth paying the higher interest rate for a year or so because of the instant equity in the house and that she does this all the time. Like is said we are very impatient, but also cautious as I have heard some nasty things about vanderbilt. The optimism from the credit union has us leaning toward taking the mortgage. Have any of you ever been in this situation? How did it work out for you?  <response>: you say you are impatient, at the same time, you have the ability to be patient if you want to. I suggest you be patient, clean your debt, clean your credit and avoid be taken to the cleaners on a bad loan. Do it the right way. 