I understand this is an older thread, just thought I would add my two cents in case anyone new reads this.
Like many of the other members said, what is not good, that is a subjective term. That being said you should know that there are a number of products on the market that can help people with lower credit scores. Programs like FHA loans, SONYMA loans, SONYMA FHA+, SONYMA "Achieving the Dream" just to name a few. I would suggest contacting a mortgage broker to go through your financial history to determine where you stand.