Not anymore. It was possible before the bust, but now if you need a mortgage you have to have excellent credit and a hefty down payment.
If you have no money and want to buy a house, you can still buy a house very cheaply at Sheriff's auction. You have to be willing to work on a messed up house and it might not be in the best city or best neighborhood, and you'll need to pay cash if you win the house, so you do have to cobble together a sum of cash. In my home town, foreclosures are selling for the price of a used car, and some aren't selling at any price.
Not for the faint of heart, but if you do that you have no rent, no mortgage payment, just taxes and the money you spend to fix the place up and keep the crack addicts from crawling in the windows and taking your stuff.