There are many mortgage companies that specialize in financing for potential home buyers with high debt-to-income ratios and other credit problems - and I cannot name the best mortgage companies, because a mortgage depends so much on your specific situation.
I can tell you, as with all major financial decisions, I HIGHLY recommend getting competing quotes... don't take the first offer... take the BEST offer from the best mortgage company for YOU. Bills.com makes it easy to compare mortgage offers and different loan types. Please visit the loan page and find a loan that meets your needs at:
Because there are so many mortgage brokers and lenders willing to assist consumers with credit problems, I do not wish to recommend a specific company. Rather, I advise you to shop around with various different lenders to find the one offering you the best deal. I encourage you to visit the Bills.com Mortgage Resources page, where you can read about the various types of mortgages available on the market and determine what type of loan you are interested in borrowing. If you enter your contact information, several pre-screened mortgage brokers contact you to discuss the options available to you.
Keep in mind that the sub-prime mortgage market, which specializes in lending to people with credit problems, has all but disappeared. This has made finding a mortgage extremely difficult for people with less than perfect credit or high debt-to-income ratios. Once you have spoken with several brokers, if you cannot find a mortgage that fits your needs, or if the mortgage being offered is more expensive than you can afford, you may want to focus on rebuilding your credit before obtaining a mortgage loan.
Since you mention that you have a high debt-to-income ratio, the first step would be to work on paying down your outstanding debts. You can pay down your debts through a "strategic" repayment plan, if you can afford to pay more than your minimum payments on your debts each month. In this plan, you would make the minimum payments on all of your account, but would pay an additional amount each month (whatever you can afford) on the account charging the highest interest rate. Once the account with the highest rate is paid off, you would start paying down your second highest rate account, and so on until most or all of your debts have been repaid. This type of plan would not only help by ridding you of your highest interest debts, it should also improve your credit score by lowering your debt to income ratio and creating a long history of timely payments on all of your accounts. If you cannot afford to pay more than the minimums on your other debts, you may want to think twice before committing yourself to a mortgage loan. If you are already struggling to meet your financial obligations, adding a mortgage may no be a wise move.
I wish you the best of luck in finding a lender willing to work with you to obtain a mortgage. Even if you cannot find an affordable mortgage now, you can put yourself on the right path by paying down your debts to improve your credit rating, which should help you obtain a mortgage in the future.
I hope that the information I have provided helps you Find. Learn. Save.