I have good news. Brattleboro is an area that's eligible for the no money down USDA Mortgage.
The county income limit for the area is $75,600 for a household of 1-4 people and goes up if you have more people living in the home.
While most lenders have increased the minimum credit score requirements to 640 or better I can still do these loans down to a 620 so you should be good to go.
One of the best things about this mortgage is the monthly mortgage insurance is substantially less than an FHA or conventional mortgage and that's with no money down.
Here's an example: An FHA mortgage of $155,000 is going to have a monthly mortgage insurance payment of $161.45 & that's going up in April but on a USDA mortgage it's only going to add $51.66 to your monthly payment.
The other nice thing is you can actually roll your closing costs into the loan as long as the appraised value supports it.
Please feel free to contact me for more information or help. You can also find info on my USDA Mortgage website by clicking the link below.
Senior Mortgage Banker
Peoples Bank & Trust
There are options for you with those scores. However, I suggest working with a loan officer to bring your scores up. Many times scores can be brought up quickly by pay down debt. With higher scores, you will not be confined to one or two loan products. I wish you the best of luck.
If you are a first time buyer you may qualify for the USDA (old Farmer's Home) loan and they do not look at credit score as heavily as other lenders. It is a federal first time buyer program. They will look to see if you have paid all your bills on time for the last 12 months. There are income limits and they do want to know what has affected the score. It is 100% financing but you also may have a downpayment. If you want to know if you qualify, go to the USDA website and check out the income limits for the Driect program.
Call or email Deb Boyd 802-257-7878 x 101 "Boyd, Deborah - Brattleboro, VT"
Pleae feel free to call for a more indepth conversation about the other programs that might work for you. I have been finding homes for first time bueyrs for 25 years now and would love to help.