Thanks for reaching out. Lots of good people here on the Trulia boards. Some good answers so far too. Let me offer you a licensed MA lender's perspective.
Your situation looks very possible as-is with a 630 score. You should also know that there are much better terms out there for you with a 640 FICO score. That's the threshold to open the door for the best loan terms. And I'm sure you want the best terms you can qualify for so let's take a look at that for you. Let's talk about what we can do to get you from here to there.
I live right in Danvers BTW, so we can talk more about this in more detail either over the phone or in person. Whatever works best for you. Here's the short version in the meantime. We have some elaborate resources here at Annie Mac Home Mortgage, including software which has the ability to analyze your credit and then recommend some specific moves we can make to help you make the jump the 640. We then have the ability to have you re-scored immediately without having to wait for the next natural reporting cycle. We can do it on the spot. It's actually pretty easy when you have the right resources like we do here. That's the short version.
We also want to do a proper pre-approval for you too. We'll iron out any wrinkles for you and we'll put together the program, rate and payment which are right for you.
Give me a shout when you're free and we'll get the ball rolling for you. 781-258-1293.