Collection holding me back from being approved for first home.

[Mathew Fuller]

Hello,

I am looking for suggestions on helping me get approved for a home loan in Denver, Colorado. I am 24 years old and recently almost got approved for a home loan up to 400k. The process has been held up because of two collections on my credit report for a $100 internet bill I forgot to pay when I moved out of state two years ago, and very small medical bill that I also forgot to pay. I have now paid the collections, but it could take some time (months) for the report to bounce back and me be within good standing.

I am single with no debt other than a small amount of credit card debt that is used for bills \ small consumer things (eating out, movies, etc) and is paid off in full every month. My car is paid for, I have no student loans, and i'm currently renting an apartment with a roommate for $650 a month. I have a perfect rental history of making payments on time and in full for the last two year and a half years as a renter. I've had consistent employment for the past three years and currently work as a Software Engineer. According to Mint and Credit Karma, after paying the collection a few weeks ago, I have a credit score of 760. Lender informed me mortgage loans are based on a different credit score which apparently mine is in the 500's from these two collections.

I understand that these collections are 100% my fault and responsibility, and I own it. However, I also want to see if there is anything that I can do to help me get approved. I plan on renting out all the rooms in my home when I do purchase, so my mortgage will be paid for or almost paid for each month by renters. 

With my current high income, lack of debt, and the plan to rent out the rooms in the home I do purchase, is there anything I can do to help me get past these dings on my credit report without having to wait for months?

I appreciate any advice that I can get. Thank you for your time and have a great week.