If you need someone to work with you that is local, I would be happy to help. I have some great lenders that I have worked with in the past that can complete an FHA loan with that credit score as long as you have not owned a home in the past 3 years.
There are obviously a lot more requirements than that as Dan said, but you wouldn't want to discuss those publicly. Give me a call and I'll give you the name and phone number of a great lender that can certainly give you all of the answers that you need.
It's more than real estate. It's RAYL-Estate!
Keller Williams Elite
I can't approve your loan, but your scores won't be a problem for FHA. There are other criteria they look at, debt, assets & income, but I would suggest you meet with a good full service local lender and apply. Once you have an approval you can start to consider your options.
FHA requires 3.5% down and is more flexible than other options may be for credit.
If you need a great agent, let me know I have a great Frisco referral for you.