Hello A_cool_09, you may consider FHA or conventional depending on what the lowest middle scores are between all borrowers. You and you wife could be co-borrowers with your grandparents also as co-borrowers. A VA loan could not be utilized as all borrowers would have to be veterans.
You may consider 3.5% down FHA from a minimum 580 fico score and from 3% down conventional from a minimum 620 fico score. All qualifications will be determined by credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the purchase.
Your scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary. You will need to be pre-approved to be able to meet an agent to view and submit offers on any hones of your choice.
How much do you pay in rent and what is the maximum payment you are all looking to afford? If you figure out what cities/zip codes you are considering, minimum number of bedrooms, baths and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria.
You will need to gather paystubs/income documentation, bank statements, tax returns and copies of your drivers license/ID and social security cards. Check out the web reference link below...