...I'd say it has a fair chance ...DU (Desktop Underwriting) is essentially an automated preapproval ...but a mid score of 595 is only 15 points above minimum for FHA ...any score drop could change that and score changes tend to be larger the lower your score is ...80% utilization is having a severe impact on your scores ...optimal is a single revolving account between 3-9% utiliztion, the other accounts at zero ...but you'll see good score improvements at under 30% ...the CAs under 2 years old will be holding you down as well ...you should spend some time in the Rebuilding Credit forum to see if you can get any of them removed.
...you should immediately opt out of any 3rd party notifications on the CRA site ...CAs are well known to buy lists of mortgage applicants and then load their reports up with negs ...valid or not, knowing that many will pay just to get them off before they damage your mortgage.
...don't forget that you will have up to several thousand in closing/prepaid costs besides your dp ...you must be able to show where that will come from ...if your builder is telling you that they will cover xx of the closing costs, be sure "whose" closing costs they are including in that number ...its common for builders to include what are normally seller closing costs in their sales pitch
...do you have your own realtor working with you? ...a good realtor can protect your interests and save you money even in a new build transaction.
...hth
