can we get approved for a first time home buyers program loan with a 550 credit score

Yes you can as long as you haven't been late on any payments for the last 12-24 months and have enough to put 10% down for and FHA loan. Now if you can get you scores up to a 580 FHA then only requires 3.5% down. the easiest way to get your scores up is to pay down your balances to 20-30% of whatever your limits are on your cards.I hope this helps, Anthony Hood

You should contact a local mortgage broker, not a bank, and let him work on your file. He has a vast network of lenders he works with and can find the right loan for your particular scenario. WilliamAcres.com