Yes, you can put down 5%! There a multiple loan products that would fit that requirement. As long as you are looking at a property that isn't located within the urban growth boundary of Bend I would suggest the USDA Rural Development loan. This loan doesn't require any down payment, however you can put as much or as little down as you like. USDA does require a higher upfront mortgage insurance premium then a FHA loan (which can be financed in), but the great thing about USDA is it doesn't have a monthly mortgage insurance premium. This generally keeps your monthly payment lower then a FHA loan!
If you would like to talk more about your options please call me at 541-390-3148 or email me at firstname.lastname@example.org.