I apologize to hear about the difficulty you are having. By FHA's rules, you are eligible for maximum financing if your credit score is above a 580. However, investor guidelines generally dictate a score of at least 640.
An issue that many people run into is the score may meet the minimum criteria, but in examining why the score is lower may create problems. Collections, judgements, etc. all factor into the score, but will cause concerns with underwriters.
I would be more than happy to speak with you to get more information and see if there is some resolution. The important thing would be continue to make the payments. A late mortgage payment appearing on your credit report will disqualify you for 6 months to a year from taking any action.
Loan Officer â€“ NMLS # 883774
300 32nd Street, Suite 200 . Virginia Beach, VA 23451