One 10 minute phone call will get you pre-qualified, and give you a good idea of exactly what type of loan you will qualify for.
If you would like more information, call or email me. I would be happy to put you in touch with a lender we trust to be honest about what types of loan options are avaliable for your credit score.
If you want to buy a house while getting a loan with decent terms, then yes - you need good credit. However there will always be someone willing to lend you money no matter what your credit score if the terms are right (i.e. higher interest rate, higher down payment).
You can have a 300 credit score and I can find someone who will get you a loan...you'll just have to put money down and accept a higher interest rate.
If you have any further questions, or would like a referral to some great lenders, feel free to contact me at http:// http://www.HernandoLuxuryHomes.com - I'd be happy to help.