First time home buyer?

My husband makes 25,000 a year. We found a house we really realy want for 124,500. I figure we could get it for 120k. The guy at lending tree told us he wants to give it to us but hes skectip. My husbands credit is 630. his debt to ratio however is almost 60% which is horrible but we can afford up to 1000/month easily ( i do work but can't use that on loan) Would it be possible for my husbands father who makes 50,000 and has free rent and all he pays is 300/month for a car payment? His debt ratio is 15%, we would use him as a co-signer. He has no problem with this btw, they both work at the apartment complex we currently live at which is why his dad gets free rent. Im sick of putting all this money in this apartment, and we want to start a family in a 2-3 years.( Please dont ask why ican't use my money on the loan application.) We dont have a downpayment. We are trying to get approved for the OFHA loan. Do you think we have a good chance@the loan w/ his dad co-singing? thanks