Do you think my mortgage loan has a chance to go through?

We found a house for $ 129,900, appraised by lender at $ 135,000. The seller is agreeing to pay $ 7k in closing costs and thats included in the price. We make $ 67k combined (her 35k, me 32k) I’ve been at my job for 9 years and she just started but was at her previous school for 3 years (she transferred). We have 10k in the bank for reserves and our debt to income with mortgage and all bills will be 33%. The kicker is her credit score is 573 (average from the 3 credit bureaus) mine is 710 (same average). She has many late payments on her account and a few collections but these happened when she was previously married, I’m paying off collections now. We were pre-approved and our rate locked in. The lady said we’d get a better rate if we just went with my information but we needed her income to get the house so our rate is 5.75%. We submitted everything they asked before our rate was locked in and my loan officer said she didn’t see anything that would cause the underwriter to deny us…I trusted her and we’re supposed to close on Aug 21st. We’ve paid over $ 1,500 in appraisal, inspection and earnest. Now I’m reading most banks don’t approve anyone with under a 620 credit score. Anyone have anything similar or know anyone who was in a similar situation and got approved? I’m a little freaked out to say the least and it sucks.
It’s $ 129,900. With FHA, mortgage amount will be $ 127,500 +/-. Also, when I said I was paying off collections, I’m paying off hers…I don’t have any. Just wanted to clear that up

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