Starting Score: 565
I am in IBR and I purchased my home April 2012. 2 years prior to my app I reached out to some lenders and they seemed pretty uneducated about IBR and all of them basically wanted to treat it as a deferrment and either wanted proof that I was going to pay the $0 for more than 12 months (which is probably near impossible) or use my standard payment which was $950. I didn't want to deal with the headache so I didn't apply until my income increased and the payment reflected on my credit reports increased to a more believeable payment plan (now its $250).
When I applied the lender only confirmed that I was paying $250 per month. She did not ask for any further documentation or payment plan information. I'm also glad I waited because if I had purchased with $0 payment I probably would have purchased a home with larger payments that would have been more difficult to manage with my increased IBR payment. I know that's not what you want to hear. Been there, done that. But I will tell you that my approval process was very easy compared to some of the other experiences I've read when applicants have $0 payments.
Best of luck to you!
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