Can i buy a house if my credit score is between 615 and 650? i have good income and very little debt?

I'm not sure why my score is that low because i don't have any bad stuff on there except one late payment to the power company which was an accident. i want to buy a house but i was told you need at least 650 for buying houses.

Tough question. I have worked in all fields of credit including mitigation. The atmosphere out there now is HORRIBLE for anyone trying to get auto, or mortgage. I'm in touch w/mortgage brokers, and they are screaming bloody murder, can't get anyone done in my location anyway, the southeast, without a 720. And often, wanting the old fashioned 20%down standard 80/20, doing 10% down, with high credit scores.

It might depend on where you live also. California, Nevada, Colorado, Florida, almost forget it.

As for the reason your score is so low I would guess it is because you don't have enough debt believe it, or not. The lender likes to see a couple of credit cards, couple of years old, older the better, well managed, and never late, maybe get some credit cards, wait a year, or two, till this mess is over, other solution is co-signer,,,,,,,,,w/very high score.

Mortgage mitigators are having trouble adjusting mortgages of a million dollars, not uncommon, the industry in a state of confusion, and flux.

There are parts of the country where the markets, are not so bad, I'm told Dallas-Fort Worth, Austin, Tx., parts of the Midwest. Other areas you would have problems with would probably be Ohio, and Michigan, horror stories galore, Detroit reporting a 25% H.S. graduation rate, high unemployment, Cleveland, another similar problem area.

For the most part word in the industry, without large downpayment, banks looking for 700's last few months.

Problems in auto loan industry also.

Good luck,,,,,,,,,,

You can buy one, but your interest rate will probably be high, unless you get a co-signor.

You might be able to get a mortgage, if you have a big enough down payment. Check with your bank or credit union about local first time home owner education program. That way your can know what you are getting into.
Good Luck

No, you should take time and raise your score. Talk to a recommended mortgage broker and ask them to refer you to a credit repair agency. They can tell you what to do to raise your credit score.
I wish I could find it but I recently read a comparison of how much a house will actually cost with various credit scores. The difference between you score and a good score is huge. You could wind up paying $100k more over the life of the loan.

Credit score is only one thing they look at. A biggie is how much are you putting down.

What really matters is what a lender says. Go and ask to be pre-qualified. Then you will know exactly what you can afford.

I would like to suggest you get as much information as you could before taking action,here is a good place for that.http://credit-score.onlinebestoffer.info...