You really should be working with a lender and a Realtor who know the program.
If you have a 620 or more score, downpayment is 3.5%. We do work with lenders that allow for 580 plus scores as long as you have 5% down. Please visit my website http://www.smartmortageinc.com to get prequalified or email me.
I look foward to working with you.
Smart Mortgage Center