You may be able to co-
sign something with your daughter or she may be able to purchase on her own. Definitely talk to a couple of lenders first before you invest too much of your time into looking at properties. I recommend talking to both a local bank and credit union. Between the two of them they should very clearly be able to show you what you and your daughter will be qualified to purchase.
Best idea is to talk to a lender/bank to get preapproved. If they check your credit they may find that you can improve it. Different loans have different credit requirements. I am a realtor in Grinnell and would be happy to help you in any way. Give me a call at 641-990-2503. Sally Lovig
University of Iowa Credit Union in Grinnell has some in-house loan products that are often good at working with challenges. I would suggest giving them a call, they can do an application over the phone for you and just tell you where you stand. They also have a program to loan you the $8000.00 first time homebuyer credit if you qualify that you can use as down payment.