Should I even consider buying a house?
I have been married and living with my husband, the breadwinner, for the last 5 years. We are separating and I am thinking about buying a modest home for me and my two daughters. But I have NO idea if I would even qualify for a loan. On paper, I can definitely afford to buy a small home. I have enough money coming in monthly. But I don't want to venture down that road if I don't even stand a shot.
Here are some basic facts of why I think the odds are stacked against me. I have a part-time job ($700/mo) and have only been employed since last September. Almost 3/4's of my income comes from child support or spousal support ($1800). My credit isn't fantabulous. And lastly, my husband and I together have a few vehicle loans and they are in my name, but he is paying for all of them. However, I'm pretty sure this counts against my debt-to-income ratio, even though I am not responsible for those loans. We can't get them in his name due to his credit.
To those with experience, is this insurmountable? Is there any way around it? Or am I just doomed for home ownership?
Thank you for any of your time and advice that you throw in my direction.