Do you plan on selling your current home first, before you buy another home? If so, were you planning on putting down the money you make on the sale of your home?

Right now most Lenders are requiring a 620 credit score to qualify for a mortgage loan., but with 20% down, you may be able to go down as far as a 580, with good compensating factors. To be able to give you an accurate answer on whether or not you can qualify, a Loan Officer would need to look at the entire picture when it comes to down payment, credit scores, debt to income ratios, etc. Once they can get all the details, then they could let you know if you can qualify or not.

Just with the few details you have given, I would say there is a shot at getting approved, but a full application would be needed to give you a definite "yes" or "no".

I'm a Texas Mortgage Broker, you should be able to do an FHA loan as long as mid scores are 620 or above...you can call me at 832-725-4990

Thanks, Tom

you can contact http://www.eaglenationwidemortgagetx.com/
hope they can help you out....

James,

Both of the answers below are right. You need to put in a full application with a loan officer. One that knows credit.
http://www.dallasloanguy.com/docs/about_credit.pdf
Here is a little book about credit.
Read this and feel free to contact me regarding follow up questions.
You really need to be over 620 FICO score.... And you are really close

Tom Burris
Mortgage Banker
DallasLoanGuy.com

I would advise you to meet with a loan officer (actually 2 or 3) to find out what your financing options are. As you are probably aware, financing is not as easy to obtain as it was a couple of years ago, so it is best to compare and make sure that you are getting the best rates available to you, the least amount of fees and a reputable mortgage professional that will guide you through the qualifying process.

James,
In order to get the best and correct answer to your question, I would highly recommend you talk to a loan officer. There you would find the "right" answer to your question. If you would like me to have one contact you, just let me know either via email or call.