Hi Doris, I am a mortgage Banker and these questions come up often when working with my clients. If you are purchasing your home as a primary residence, you should qualify for programs such as FHA, VA or USDA, which require very little or no down payment. These programs are more flexible on credit. You need to talk to a lender in your area who offers these programs. If you are purchasing an investment home or a second home, a much higher down payment and higher credit scores are required.