As a banker, I know our lower cutoff for beacon score (credit score) is 629. Having said that, I have approved loans for people with lower scores.
Also, I don't know how old you are and what your net worth is. If you are young, we would typically expect you to have a low or even negative net worth, dependand on your life stage.
Generally speaking, the higher the downpayment, the more likely the financial instution is likely to give you the loan.
Like Big Poppy had said, get a hold of your credit report and see what it says. Feel free to PM me if you have any questions. Sometimes they can be difficult to decipher.
Hope this helps a little.
