It depends how bad your credit is. Most mortgage underwriters these days are very nervous about writing any loan to someone with bad credit. Then again, they're also desperate to get some good loans on their books, too, so you might have a shot.
I don't know how it works in your state or what company you're looking at, but banks generally take the "average of the median" of your scores. Meaning, there are 3 major credit bureaus, and they will take the middle score of the 3 reports for each of you. Then, they will average those two out. As long as that combined score is higher than 620, you have a very good shot at getting a loan. If it doesn't, then I'd recommend you wait until you clean up your credit a bit. If only one of you has bad credit, you might want to qualify by yourself as long as your income is enough to support the house you want.
Since your income is relatively high compared to your debts, figure out what's causing the problem. If you have credit card balances, get those down as soon as possible. It's the fastest, easiest way to raise your credit score. Make sure you have nothing in your report that you can't take care of, either by removing it, or by paying it if it's legitimate. The only other way to get the score up is time. The good news is it's possible to raise a score about 100 points in 6 months as long as nothing is outstanding and you have virtually no credit card debt. Good luck.