The fact is that you CAN own a home but you will have to work on a few things first. There are government programs that you can participate in such as USDA, which will provide 100% financing for homes in rural areas as defined in by the USDA map. Considering that you are a 1st time homebuyer, you may also want to consider going to NACA or the Neighborhood Assistance Corporation of America. They provide credit counseling, budget training and low interest mortgages. You attend the training class and subsequent meetings all geared towards getting you ready to buy a home. When you finish all the meetings, you are automatically qualified for a home based on you really can afford. This may be good for you so you can get an idea of ALL costs involved in owning a home. The website is http://www.NACA.com and you can register for classes online. Do be discourage on what people may tell you about what you can do TODAY. If you are willing to work at it, you can own a home.
Take care and good luck!
Unfortunately, that combination of low income and bad credit will not pass lender guidelines. You should also consider as a homeowner, you'll be taking on financial responsibility for the maintenance of the home, which may present financial burdens you don't need.
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However bad credit is more difficult to work with. If you would like to elaborate more on your bad credit situation maybe we can shed some more light on what is possible.
Government agencies usually give help to consumers that are lacking in income. I do not know of any programs that will assist you in having a credit situation as a result of not paying their obligations.