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Buying: Still a Possibility
We thought there was no way we would be able to buy the home we fell in love with, but it may still be a possibility. When DH checked his email tonight he had a message from the realtor. She said she was going to suggest seller financing, but found out we already contacted the buyer about it. She said she would have preferred we went through her because the buyer was upset we contacted him directly. Anyway she asked how much of a down payment we could put down, which is barely anything, maybe our income tax refund. She ended the email saying she thought the house would be a perfect fit for us. He wrote back so now we are patiently waiting her response.
We haven't given a deposit yet on the house we found to rent and hope we can get more of an answer on the house we'd like to buy first. Cross your fingers for us 
Re: Buying: Still a Possibility
01.21.2012---> I married a redhead I'm crazy about.
04.2016: IT'S A BOY! Elias Alan is due!
WDW trips: 05/14 (1st trip! Art of Animation; Little Mermaid), 05/15 (Pop Century!). DL Trips: 12/15
Lots of luck to you!
Not to be a downer but just a warning, if you both didn't declare M0 on your taxes you might not be getting back as much as you think. DH and I had hopes of getting back a fair amount but we ended up owing $711. Not saying that will happen to you guys but don't count on money until you actually file your return.
Married the love of my life on 1-21-12. Our princess arrived on 5-28-13.
Fingers crossed for you guys!! I really hope you can work something out. I've never purchased a house so I don't have advice or experience on closing costs or anything.
But I'll second Tara, don't count on your taxes until you file. My hubby was all pumped in thinking we'd be getting even more than last year because we were filing as married. I'm not sure where he got the idea we would. Having just taken Tax Accounting last summer, I knew we wouldn't. But even I was surprised at how little we got. I think it has to do with our withholdings like Tara said. I know I checked mine, but I don't think DH did for his and he's the main bread winner.
We did an FHA loan that had a 3.5% down payment. Our purchase price was $233,000 and we had to pay a total of $7,500(ish). The home builder paid 3% of our closing, which was about $3600 if I remember correctly. If I can remember correctly I was told that closing costs would be about 4% of the purchase price, give or take. Also remember you'll need a few hundred to conduct the inspection of the home and possibly the appraisal.
I agree with all the tax talk. I was hoping to get money back, instead we owe a big chunk. My recoomendation (if this doesnt go through) is to move in with a parent if possible and start saving like crazy. I also HIGHLY reccomend visitng the myfico.com forums. Those people have a ton of information that will help you prepare to buy a house and clean up your credit. Even if you don't post there, you can learn so much from reading what they've said to others.