<prompt> Human: My husband and I both have foreclosures on our credit reports. Both around 5 years old. Our credit scores are around 670. We made around 150k last year, but we have no savings. We want to buy a house early next year. Are we crazy to think this will work? How much of a down payment do we need to save? Will a lender even give us a mortgage? I dont know where to start.  <response>: The question should not be if you can get a mortgage. Plenty of people who make far less than you can get a mortgage. The question is whether or not you are ready for a mortgage. It appears you and your husband may have a budgetingspending issue. No savings? Where is the 12,500month going?Ideally you should have at least 20 for a down payment.Plus enough to cover the cost of moving and furnishing the home. You should likely consider first:Repairing your creditCreating a budgetSticking to your budget 