Yep, Deb is right...most credit-based offers nowadays are based on having a score of 700 or higher. There are some banks that specialize in helping people with lower credit scores obtain financing, but generally at a significantly higher rate. You'd be best to find a good credit counselor who can help walk you through all the things you need to do to get your combined credit to 700. It will only take about a year, provided the numbers you list are accurate.... more
Unfortunately, Kevin is right about the difficulties of financing an investment property. Honestly, you'd probably be better off to save up for 4 or 5 years and then either buy a place in cash, or get preapproved with 20+% down with a normal loan.