Yes: FHA lends down to a 580 score at 3.5% down and to 500 with 10% down, and VA and USDA set no programme minimum, but a lower score means a higher rate and more mortgage insurance, so it costs more every month for as long as you keep the loan.
Bad credit is not one condition. A thin file with almost no history, a good file with one bad year in it and a file with an open collection are three different problems, and lenders read them differently even at the same score.
Which door is open
FHA is the usual answer, because its floors are the lowest and its underwriting is the most tolerant of a rough history. VA is better still where you are eligible, because there is no programme minimum and no monthly mortgage insurance. Conventional lending is the least forgiving below 660 and gets expensive quickly.
In every case lenders add their own overlays, so being told no by one lender is not the same as being ineligible. It is worth asking three, inside a short window so the credit inquiries count as one.
What it costs to buy now instead of later
A weaker score raises the rate and, on a conventional loan, raises the mortgage insurance too. Over a thirty-year loan that difference is large, and it does not go away by itself: it goes away when you refinance, which requires the score to have improved and the rates to cooperate.
So the real comparison is between buying now at a worse price and spending six to twelve months on the score first. If the score is close to a threshold, waiting usually wins. If it is far below one, waiting is a longer project than people expect and renting is not free either.
What moves a score in months rather than years
Paying down revolving balances, because utilisation is a large share of the score and it updates monthly. Not opening anything new before or during an application. Correcting errors on the report, which are more common than people assume and which are free to dispute. And simply making every payment on time, because recency counts.
What does not help: closing old cards, which shortens history and raises utilisation, and paying somebody to repair a report, which does nothing you cannot do yourself.
Questions people ask
What is the lowest credit score to buy a house?
500, through FHA with 10% down, though many lenders set their own floor at 580. VA and USDA have no programme minimum but lenders typically want around 620.
How long does it take to fix credit to buy a house?
Paying down balances can move a score within a month or two. Recovering from a serious event takes longer, and some programmes impose waiting periods after a foreclosure or bankruptcy regardless of the score.
Is it better to wait or buy with bad credit?
It depends on how far the score is from the next threshold. A few points below one, waiting is usually worth it. Far below, waiting is a long project, and the cost of renting through it belongs in the comparison.