Mortgage Loan Turned Down For Past Credit Histories?

I am applying for a mortgage loan and I know the system has changed because of the many foreclosures now. However I was turned down for past credit histories. I will admit I have about 1400 in hospital bills from back in 2003. Does this mean I can’t be financed with anyone at this time or should I try another lender. My credit score is 601 and I am applying for a FHA loan. I have been so discourage but don’t know if I should presue this thing or not. I have all my money to put down on the house but if its not my season to purchase I have to accept. I know people with worst credit than mine have gotten homes and had no problems. Is it just me or this is normal sometimes please someone answer that knows. Thanks for all your help and advice.

Can I get a mortgage loan with a good interest rate, and a excellent
credit score with no money down. Thanks for the help.

tosa
So you dont really need a down payment with a score of like 800

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