Besides the price of the home and your income, there are other facters that determine being approved for a mortgage loan...with credit score being one of them. I spoke with a morgtage lender in Lexington this morning that said that they are likely to get a 640 to go through. I would recommend sitting down with a lender in your area for a pre-qualification. That would best answer your question.
Best of luck!
Century 21 Wilson Realty & Auction Company