Is it possable for a couple to buy a house when husband (me) has bad credit?

“D” asked:


Well me and my fience are engaged to be married on 8/12/2008 and were trying to figure out housing arrangements. Together we have the correct income to debt ratio of about 33-40 precent of our money being spent before morgage payments. She has great credit, approximately a 735-750. BUT I have bad credit.. approximately 550.. made some mistakes when I turned 18 and some medical collections. Less than 2200 in total debt though. Is it possible for us to buy a house with little to no down payment? If we buy with her only on the house, is my income included when it comes to their consideration still because we will be married? Should we just try to get it with both of us on it? See were considering a FHA loan with a program that pays 3-6% of the total cost of the house toward down payment and closing costs if we qualify. We have a list of realitors who can set that up as long as the FHA loan goes thru. BUT with all this information shaired is it possible? We want in now due to low %% rates.

Matthew
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