I will encourage you as you plan ahead to ask as many questions as you like on Trulia. We are here for you and we'll guide you as best we can and within our authority as professional and experienced agents. Good luck to you!
20% of the Purchase Price for the DOWN PAYMENT
6% of the Purchase Price for Closing Costs
3 month's Gross wages in a Saving Account
This assumes that you find a TURN-KEY and do not need any repairs/upgrading.
$10,000-$20,000 for repairs and upgrading.
If you try to cut all the corners; you could end up like a lot of people who went through Foreclosure the instant things took a dip.
With a Conventional Mortgage, you are looking at 10% (with PERFECT credit and a GOOD bank) or most likely, 20% for a down payment and then the same, 3-4% for closing costs and misc fees as stated above.
Hopefully this will give you a general idea to help you get on the right track. If you have any other questions, please do not hesitate to ask.
Best of luck!!