Can i get approve for a mortgage loan with a credit score of 585?

My wife and I are looking into buying a house (The American dream). But our credit scores are low. My credit score is 575, 585, 590. Can we qualify for 1st time buyers? we have little down payment, $5000 to $7000? Will a bank approve us. My last year earnings where $50k. thx!

Public Comments

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2. You might be able to with a friendly lender, but its tough for someone with a 700 score to get a loan in this economy.
3. It sounds like you may be a good candidate for an FHA loan...ask your lender. Good Luck!
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