I make good money a year. I can pay a mortgage because I have paid 775 for 6 years now 1000 a month the last 5 but my credit a 540

With a good income, you should be able to repair your credit pretty quickly. I am not aware of anyone currently lending with a 540 credit score. The higher you get your score, the more options you will have available to you. Best of luck!

Work on your credit, pay down all credit cards and auto loans; with careful money management, your credit can improve.

generally, you should work on your credit first, is there any specific reason why your score is 540?

Michael, approval for a mortgage is based on a lot of factors of which ability to pay is only one. Your credit profile is treated as an idication of your likelihood to pay - there are people who have the ability to make payments but do not. Check out my Blog on this site "first steps" which has some suggestions for quickly improving credit scores. While a FHA loan is possible from some lenders with a relatively low score, you'll get a much better rate on the loan and have an easier time qualifying if you can improve your credit to at least 620 and preferably over 640 (but the best rates are given to those with 720-740+ credit scores). Good luck!

In order to get a mortgage you will want to work on repairing your credit. With a credit score of 740 or higher you can expect to be offered the best interest rates and can qualify for more loan programs. Pay down any out standing credit card debt that you may have and check your credit report for errors that can be disputed.

You have to get your scores up in order to qualify for financing.

If you can pay your bills, why is your score so bad?