You received some good advice from some of the agents below. I would suggest you talk with a knowledgeable lender as well. Some programs you can qualify with a lower score. Being that you are in Clarksville, are you a Veteran? Credit score requirements are lower on these loans. How is your mortgage history on your current home? Can you get approved with both mortgages? As you can see, the credit score isn't the only thing we look at.
Since you are putting a sizable down payment, this should help you with an approval. If you have further questions, don't hesitate by emailing or calling me. I know a lot of personal information shouldn't be discussed in an opening setting like this.
Best of luck,
There are lenders providing FHA insured mortgages with credit scores under 640. Some FHA approved lenders will go below 600. In the few cases seen, a score of 500 is required for a refinance and a credit score of at least 531 is required for a purchase.
I work with several reputable lenders that can find what works best for you.
Contact me with any questions or concerns you may have.