OK my husband and I have less than stellar credit... most of our problems stem from our previous divorces.. all of mine do... since then I have kept current on everything

The house we want to purchase is a little over 200k, we have saved and came into some money and are going to be able to put well over 20% down, we could put down 50%. Is this going to help us in financing?

Or will bad credit outweigh the downpayment?

Thanks

A downpayment over 20% will ALWAYS help. And if 50% is possible, then even better.

My opinion: Get 3 bids on rate and term for 20% and 50% down from 1) A loan broker, 2) a big bank and 3)m a small local bank or savings and loan.

Depending on the debt load you are carrying now, it could only mean that your interest rates are higher than normal. Or it could mean that you will not qualify for a load.

FIX YOUR CREDIT FIRST. We learned the hard way. Its SOOOO much cheaper when you have good credit - literally, thousands less. You can get your credit fixed within 6 - 12 months if you pay down all your cc debt (dont close the accounts, leave them open but make sure to have them paid off at the end of every month). In 6 months you could have much much better credit.