Is there a way to get a loan for 485k with a fico between 500-600?

Assuming you are looking for a home loan, the answer is......it depends. If you are looking for 100% financing then you will find it extremely difficult, maybe even impossible for you to find that kind of loan with the credit scores indicated. Also, the sub-prime lending market has all but collapsed so people with lower credit scores now have far less loan programs available to them. It wasn't that long ago that a 580 mid score could get you 100% financing. Those days are gone however. If you have a low score but make good money at your job, been at the job for a few years, have a hefty bank account, and can get them to sell you the house for $417,000 or lower, you might have a shot. I have seen that type of scenario work in certain situations.

The one factor you will need to pay attention to is whats called loan to value or LTV. This is simply the amount you are borrowing compared to how much the property is worth. For example, If you applied to buy a $100,000 property and only qualified for a 80% LTV loan, that would mean that the lender would be willing to lend you $80,000 towards the purchase of that home. You would have to put a down payment of $20,000 to buy the house. This would probably be the case with your scenario. You may only need to put down 10% but you will most likely have to come up with a down payment and may even have to pay for closing costs which can be an extra $5000 to $10,000. There are several other factors that will affect your ability to qualify for a loan such as debt to income, property type, etc.
You may want to find out how much you do qualify for first. The difference can be handled in a couple of different ways. One way is to ask the seller to do whats called a seller carried second mortgage. This means that the seller would be willing to take monthly payments on the portion of the purchase price that is not covered by the loan you qualified for. Using my previous example, it would mean that the seller would create a note in the amount of $20,000 to be paid at a certain interest rate dictated by the seller over a certain term. Usually 15 to 30 years. This would mean that you would have a payment every month due to the lender you got the first loan from and a second payment due to the seller for the $20,000 you didn't have. This essentially is 100% financing but more and more lenders are not allowing this option with out you putting at least 5% to 10% down payment. The other option is to ask the seller to gift you a certain amount of equity on the property. Using my previous example again, this would mean that the $20,000 not covered by the loan from your lender would be gifted to you. This would mean that the seller does not expect any repayment of that equity and is giving that equity to you as a gift. This is common between family members but isn't very common between buyers and sellers on normal real estate transactions. The seller would be literally losing out on that money. This scenario is highly unlikely but might be worth a shot.

Other than that, your options will be limited. If it is an investment property, you may consider partnering up with someone that has a better credit rating so you can get 100% financing. You may have to split ownership rights of the property for a while but at least you can buy the property with 0 down. This option however is prohibited by laws in some states so check with an attorney or a good mortgage broker in your area.
The same things apply for a commercial loan with the addition of several other factors but you would almost definately need a down payment.

Hope this helps.