Is it possible to get a home loan with bad credit?

We would like to purchase a home listed around $125K and can put 20% down. Current salary is $192K. We have $500 p/m in vehicle payments, but no other long term debt. DH is ex military, so he should be eligible for a VA loan. Should I even bother looking into this or do I just need to wait until enough time has... show more We would like to purchase a home listed around $125K and can put 20% down. Current salary is $192K. We have $500 p/m in vehicle payments, but no other long term debt. DH is ex military, so he should be eligible for a VA loan.

Should I even bother looking into this or do I just need to wait until enough time has passed that our credit no longer looks so bad?
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