Can we get approved?

So, we make around $115,000 per year, but we have quite a bit of debt between student loans and credit cards. Because of our outstanding debt, we bought a home well under what a couple making $115,000 would probably buy, and put 20% down on it. We've also paid off our cars, and both are functioning beautifully, so we expect no car payment in the next few years. We have around $2,000 leftover each month after all utilities, mortgage, debt repayments, and all necessary living expenses (food, gas, etc.). So in our opinion, we are more than financially able to support a child. We actually waited to have a child as long as we did so that we could become financially stable. Despite our past debt, we have made solid financial decisions in the past 5 years. Unfortunately, due to infertility and treatments, we have not been able to pay off debts like we would like to. We have almost $20,000 in the bank, $11,000 in retirement, and will also be receiving money from relatives to help with our adoption costs. I am just worried that our past high debt will put us in jeopardy. Our plan is to present the SW with a plan of how we will pay off our debts in the next 5 years, even with having a child. Also, how do they ask you to determine the value of your home? Our last formal appraisal was 4 years ago, and we had tons of equity. Now, I have no idea, but I doubt we have much. Which would put us in a breakeven or even negative net worth situation. Did any of you have to have a new appraisal? What do you think? Could we have trouble? This is the one thing that is driving me insane, and if I can hear perhaps some positive feedback, I might feel a bit better. TIA!