You should look for a lease option, your first job is to meet with a local and trusted loan officer. they can tell you what to do so you can get a mortgage in the future, he will let you know how long you need to lease for and what price range to look in as well as how much a month you can afford. then you should find a buyer broker to assist you in your search. negotiate the lease and the purchase. makes sure the lease is as long as you need, usually 2 years, make sure you are getting at least 5% of your total rent paid credited to you at lcosing towards your down payment, it is also common to negotiate in 3% back towards your closing costs,. it is common the seller adds this to the price they agree on. good luck

I think you should WAIT and save some money towards a new home. Pay off all other debts too. If you are having trouble now to save any money you will struggle later too. There are other expenses with a new home such as regular maintance and if anything breaks YOU will have to pay to fix it. Try to live cheaply till you have some savings to put towards a new home. When the time comes the market may be looking better too.
If you must get into a new home look to family members for the 10% down you may need . Or finance that part with any other collateral you may have.

Brad - if you are a 1st time homebuyer or have not owned a home in the last 3 years, check with your lender to see if you can go MS Bond. As mentioned before, USDA or VA may be a possibility. Work with a local lender to see if there is a program for your needs.

Unfortunately, with the exception of VA and USDA Rural Development loans, there are no 100% financing programs available today.

If you are a veteran, you may qualify for a VA loan with no money down. If not, consider a USDA Rural Development loan. However, USDA has income restrictions, the adress of the property must qualify. Both programs allow up to 6% seller assist towards closing costs.

Another alternative is FHA. FHA also allows 6% seller assist towards closing costs. While FHA requires that you put 3% of your own funds towards the transaction, that 3% can come from a gift of funds from a relative, from your employer, a church, a non-profit organization, or a government entity. Most (if not all) states have a program to assist first time homebuyes with grants or "select second" mortgages to help with a down payment and/or closing costs.