First time home buyer?

Sorry, but the bad credit is a 100% deal breaker UNLESS you can find a co-signer with excellent credit. The fact that you defaulted on a car loan is REALLY not helping you. Would you do the same thing if you bought a house that needed $25,000 in repairs within a few months??? That is question #1 any lender will ask you and they would LOVE to hear you dance around that question.