NO PROBLEM. You are looking at an FHA Mortgage. Only requires 3.5% down ... but you need to hurry as the $8,000 stimulus package runs out the end of November. (only applies if you are a 1st time home buyer, but there are some exceptions, and a good accountant, or the IRS will be able to tell you if you would have any credit coming)
FHA does require mortgage insurance and an education class (which reduces premiums upfront by 1/4%.
BUT, THIS WOULD BE PERFECT FOR YOU. (you can finance the mortgage insurance)
Your husband might qualify under FHA with his low score, because FHA will take this into consider ... and you may have more income to qualify. CAUTION: There are limits to what $/amount of home you can afford.
Thru 12/31/09 ... FHA is allowing you to purchase a home based on 125% of the median price for the area you choose. IN 2010, IT REVERTS BACK TO 100%
DONNA BELL, BROKER/OWNER OF REALTY RESULTS INC. IN BUS. SINCE JAN. 1974.
dbell4444@att.net Phone: 262-695-5744
IF you call us, we would be willing to represent you. We are not just buyer representatives, but ACCREDITED BUYER REPRESENTIVES. That means the past norm of working for the seller no longer applies. It means that we are working directly for you. Metropolitian Milwaukee (Includes more than just Milw. County) is our territory.

As everyone has told you the you can go FHA. Now remember that their are closing cost on top of that. There is several ways you can work with closing cost and pre paids. You can ask the seller to help you. Or if you are a first time home buyer you can see if your lender will work with the $8,000 first time home buyers tax credit. Or you can borrow the money from a family member. So you answer is yes you can buy a home buyt you will need additional funds to close on the home.

At Lake Bluff condos you can currently put only 5% down on the purchase of your new home. In order to qualify, this would have to be your primary residency. I would be happy to help you regarding your purchase of a new home and assist you with financing. I can be reached at 414-273-2300. Our office hours are 11am to 6pm daily. I hope to speak with you soon.
Sincerely,
Tim Flannery

Yes there are programs out there for low down payment, FHA is one of them. I would be happy to meet with you and show you how it works.
Ken 414-964-3636

Yes they are. You can do an FHA loan with 3.5% down. Or depending where you are looking there is USDA loans but still regular conventional loans are available as well. If you work with a portfolio type lender especially.
I have 2 that I work with. If you want to contact me for names I can provide that info to you.
Best
Dave Eyrise
Realty Executives Integrity
262-9010-0801 or daveyrse@mac.com

Yes! You can go 5% with a conventional loan and 3 1/2% with an FHA loan. I recommend Michele Takach at Associated Bank (414) 303-8544.