There are lenders who finance properties for people with bad credit, but the rates are high and they require pretty large down payments -- a minimum of 25 percent in most cases. That said, FHA does allow 90 percent loans to people with scores as low as 500. Your best bet would be to pay your bills on time and wait until it's been at least 12 months since your last derogatory credit event (late payment, collection, etc.). Because FHA allows low scores but not a pattern of slow or missed payments, etc. If your credit was good before the divorce, and you can show that you're paying your bills now, you have a better chance of getting lenders to overlook it. but if it's been bad for an extended period of time, and was bad pre-divorce, you won't get a pass on the FICO.