I would suggest repairing your credit first... With a higher score you will qualify for a better rate, be able to finance a higher amount, and put less down payment..
Why start off the hard way, and not get the best loan and rate possible. But all this just doesn't just depend on your Fico score..
It all depends you many factors.
So asking a simple question like this is just not really going to get you an effective answer. I suggest you visit a loan officer or got o your bank and get pre approved. Take your 2 years of tax returns, recent credit report if available, and the loan amount you want to finance. Now you will know at price range houses to look for and what payments you're facing..
If you're a first time home buyer:
Don't forget the property tax
The mortgage insurance - *may apply to some loans but not all
Home owners warranty - at the time of purchase - but may be cancelled next year
Home owners insurance
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