Your chances are pretty slim for getting the mortgage with those scores. Also, if they are going by Fed guidelines and not a private mortgage you can't be past due on student loans on an FHA loan. No disrespect to the other poster but you shouldn't be looking for a mortgage at a 500 credit score as even if you did get approved the interest, points that you would pay on that loan would be crazy and would be much wiser to fix your report to raise the scores that are credible to get a decent rate with lower cost.
