Your debt ratio may be fine, but most lenders do not make loans under $50,000. A private seller who will lease with the option to buy, and who will finance for a long term, may be you best answer.
It depends what you mean by "poor credit" plus, how much you have for a downpayment and reserves ($ left over after closing), debt ratio's, type and condition of the property, etc. Check out my blog on this website, "First Steps". Good luck!
There isn't enough information here for anyone to give you a great answer... But poor credit is a major hurdle.
Not gonna happen.. who will lend to someone who has a proven track record of not paying the bills? Clean up your credit, save some money, and then apply..
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