I don't know what Michael is talking about... you have to have low debt to income and job stability/stable earnings even if you have a decent credit score. you pay a risk adjusted premium that might be 2% for being a low credit score, however, you wont get the loan if you are independent contractor, no proof of income or recent job change. You could have a 700 score and if you just started a job 3 months, went thru a BK one year ago, had purchased a new car with a $600 per month payment, you still wont get a loan!
best of luck!
Yes there are opportunities. Contact a mortgage broker to explore what is available. In addition sometimes Credit Unions are more lenient to someone with a lower credit score.
All the best,
The short answer is - it really depends on the score. If you are in the 400-500's, it's going to be very challenging. You can qualify for some programs with scores in the low 600's, but I would call a mortgage broker to discuss your options. If you'd like some referrals/contact information of some that I trust, please feel free to contact me.