Buying home with down payment, but not so great credit?

My husband and I want to buy a house in about 2 or 3 years. By that time we will have between 20,000 and 25,000 dollars saved for a down payment and closing, but my husbands credit is not great, (around 600) and mine isn't much better, but I'm not working.





So my questions are, if we have that much saved up by the time we are ready to buy, does that help when you try to get a loan? Or is it all about the credit score?





And since I don't work (I don't know if I will be at that time though), do they only look at my husbands credit or mine too? Because when we've bought cars before they only looked at him and left me off because I had no income. Is buying a house the same?





And has anyone bought a house with a VA loan? If so, was it an easier experience do you think? Are they any added benefits of getting a VA loan?





I know its a little early, but this would be our first time buying a house and I want us to be well informed beforehand. Thanks for answering!Buying home with down payment, but not so great credit?
Consider cleaning up your credit, some companies will do it for $300. Or pay off some of the old debts, in the long run it may help give you a lower rate which will save you thousands of dollars.Buying home with down payment, but not so great credit?
In 2-3 yrs both of the credit scores should go up if you are diligent on paying your bills. They will only look at your hubby's score if he is the only one working. I have a VA loan and it was easy to do. Go to the VA website and apply for your VA certificate. Remember you can also buy a home from another VA homeowner and transfer their VA loan to you at their interest rate. Plus a VA loan you don't have to pay a funding fee.





If this is your first house you don't need a down payment! You can use that $ for paying off points. That will save you $ in the long run!!!
talk to a loan officer they have loans for every situation. I have a relative that does loans and they say if your credit score is at least 500 they can get someone a loan. these are called subprime loans.You can ask about the va loan but that isn't always the best way to go. so talk to a few loan officers.
First of all a 600 is not so bad,almost any home loan is considered even if your in the 500's but your rate would be higher.also you probaly will not need all that money as a down payment,you would be first time buyers.and yes they probaly would put the loan only in your husbands name but you could be added to the title and if and whenever you refinanced your home you would also be able to be add to the loan even if you still are not working.