My answer is based on my experience helping buyers in the Phoenix area:
1 - most lenders require a 620 credit score. There are a few that will do with 580+ but you will have to put significantly more money down.
2 - your income is fine for the price range you are looking for. I have helped home buyers that make less money than you buy more expensive houses than you are planning to buy.
3 - being maxed out on your credit cards has a huge negative impact on your credit. Believe it or not, it is usually better to have a lower credit limit and not use it all, than to have a higher credit and use it all. The good news is that even though you are maxed out on your credit cards, your score is still not too low. You can probably bring your score above the 620 if you reduce your debt to credit limit ratio. Two ways of doing it - one you can pay off a significant part of the debt. Or you can ask the credit card companies to increase your credit limit. IMPORTANT NOTE - I am not advocating that you should do this. I am just making a point that this is an option that most people forget.
Jose Dias, REALTOR | (623) 418-5700 | Jose@MyFirstHouseAZ.com | http://www.MyFirstHouseAZ.com