Here are a few things the lenders will consider (aside from how much you make at your current job):
1) Capital – this is the amount of money you have on hand (for down payments, closing costs, etc). Sounds like you have a little bit of that stashed away…
2) Capacity – this is your ability to repay monthly loan payments. Lenders will use a ratio to figure out what your monthly take-home income is after any other debts you may pay out each month (like rotating credit card bills, student loans, car payments, etc).
3) Credit History – you already know about this, it sounds like.
The general rule I’ve heard is that you shouldn’t spend more on a house than 2.5 to 3 times your annual income. Of course, this is probably flexible depending on the other variables I mentioned, like how much of a down payment you can afford or how much outstanding debt you have…
I suggest taking a home buying class through a local non-profit. I took a class in Portland, Oregon through the Portland Housing Center, which was awesome. They used a great textbook that’s published by “NeighborWorks America.” Might be available where you live.
Also might want to check into land trusts. They’re a good option for folks below a certain income level.
Good luck!