I am a 27 year old married, first home buyer with BAD credit and no money for a down payment or closing cost. I live in Texas is there a company out there that will approve me for a home loan with low fixed interest rates? We have not even started trying to fix our credit.

You would be lucky to find ANY lender willing to take a chance on you. Forget about low rates.

Your only chance of getting a mortgage is if you can show way more income then the mortgage payments.

What you might try pursuing is a contract for sale.

Do you qualify for a VA loan? That is about the only way you are going to even have a shot at it...