What is my chance of getting a home loan?

I have a credit score of 607 with about 26.500 salary and my wife has about a 37,500 salary with credit score of 668 and we're brand new to home buying first timers. we got other expenses like a car thats still 16,000 left on the car payment and other credit card expenses including school loans.. by the looks of this how thin is our chance of getting a home loan? i tried finiancing a $4,000 car alon and got denied to get a co-signer... is car loan also different from home loan? is it harder to get approve now vs. home loan? thanks.