There are a lot of programs out there. Besides FHA loans at 3.5% down payment, there is another product I have that can allow you to go 5% down payment on a conventional loan with no mortgage insurance. You have to qualify either by meeting income guidelines or the property itself qualifies, but it's a great product for a first time home buyer. Let me know if you would like to talk about further programs and rates.
Have a great day.
RPM Los Angeles
Cell: (310) 995-0975
a local mortgage broker with access to many lenders and loan products can best answer your question...you can find a link to one and also learn about getting loan pre-approved on my website
BUYER CASH REBATE 50%-60% / SELLER DISCOUNT 50%
Flavio Tejada, MBA-Finance, Broker/Owner, Realtor
Web Reference: http://americarealtyonline.com/