Approved for a mortgage with credit score of 515?

Me and my wife are wanting to buy a house soon. Together we both gross a little over $43,000. All the accounts on our credit report are nearly two to three years old. I was wondering is it in any way possible to be approved for say a 50-75k mortgage?Approved for a mortgage with credit score of 515?
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I seriously doubt it. 620 credit score is usually a minimum unless you have some very large amount of cash to put down. And why do you want to own a cheap home, in what is most likey a bad neighborhood on what is a so so income. Most homes in that price range offer little or no appreciation over the years. No insult intended but it if I were you I would spend a couple more years building your credit and increasing your income and savings. Then make a move. It all sounds borderline to me, and I just want you to make a wise descision.
nope not at all anyone that has even good credit is getting turned down because of all what happened with the housing crisis. if you dont have a good score at least 650 and at least 20% down forget it.
A FICO of 515 is not going to get you a mortgage.





Work on your credit and get your score at least to the mid 600's before even attempting to think of buying.
not with that score. Unless you have at least 20 to 30% to put down and your interest rate will be very high. (SUBPRIME).





I would save some money AND FIX THE PROBLEMS.
Sorry but not until your credit score gets up quite a bit more
No way ...sorry