Your low credit scores will be a big impediment to getting a new mortgage. How big? Go online to GuaranteedRate.com (yes, the folks that now have the naming rights to the White Sox ballpark!). There you can securely input your credit information, and the amount of your down payment. They will let you know how much additional money you can borrow, and at what cost. You've done a great job if you paid off your house. Now, maybe go for something smaller and don't take on so much more debt?