We've been pretty irresponsible financially most of our lives and are just now looking to buy our first home early 2014 (long story). My husband's credit is hopeless at this point. He has many recent derogs, and I'd rather not include him on the mortgage application. My credit isn't all that great, either. But I've been rebuilding on my own since May 2012 with some success. I figure by March 2014 (when one of my auto loans will be paid off), that I could seriously start the homebuying process.
$55k-$60k annual income
Same employer 12 years
Current scores in my signature
$50k annual income
Same employer 20+ years
Scores in mid-500s
2 medical judgments, to be paid off by summer 2013
6 collection accounts that will fall off this year
1 unpaid collection from Midland that I'm still trying to figure out. will fall off credit 2014
2 paid small collections (property tax and overlooked old cable bill)
Auto loan $4000 balance, final payment March 2014
Auto loan $11000 balance, unplanned new loan 12/2012 (son totalled the old car)
Credit card total balance $2100 as of today (plan is to pay off all cards with refund and store them in the sock drawer, with the exception of 1 card)
Starter loan $250 balance, final payment August 2013
First of all, is there a lender out there that would approve just me for a mortgage? I'm assuming I can't include my husband's income if I apply on my own. I know if I could get approved, it wouldn't be for much (I live around Washington DC). And by next year, I may only have about $7000 in savings. How likely is it that this whole homebuying situation would acutally work for me? Also, any homebuying programs for registered nurses?