Some lenders are able to use "alternative credit" to qualify you. That depends on the lender. Most traditional lenders will shy away from you, but the larger than normal down payment will help make your case.
If you have time, you can establish credit in a matter of months. It just takes some savvy action on your part and a reasonable, dedication to the effort.
Many families who make high $$$,$$$ per year truly have no credit they torn up credit cards years ago.
Contact my office today where I can show you many amazing homes work with your family specifications.
Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer
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So from what you are saying you have about 25% downpayment which is great!
You will still need to qualify for a home loan for 60k. Please email me and I would be more than happy to share my lenders contact.
We are closing on a client's home next week and she has a 550 credit score and she got a rate at 3.5%!!!
My email is email@example.com.
Thanks and good luck
JP and Associate
Licensed Mortgage Loan Officer
100% Home Loans All Over Texas!