FHA loans will allow you a smaller down payment (5%) IF you have a good FICO score and good credit.
The better credit score you have, the better the loan you get. There are also programs for 1st time buyers where you may qualify for grants to assist you with the down payment. FHA is another way to go with 3% down. Once you decide to proceed, an informed agent can assist you with all your options.
For more details, you can contact me locally at 818.487-4475.
Please feel free to visit my website and search the MLS free, or you can email me and I can set up listings emailed to you on a daily or weekly basis.
Selling or buying an REO/Bank Owned property, please visit my website:
Julia Huntsman, 562-896-2609
It is not as difficult as you may have been led to believe. You can still put as little as 3% down on a home and even get that 3% as a seller paid down payment assistance for an FHA loan. Mortgages are still pretty clear cut if you are buying your primary home and are fully stating your income. Your credit still has to be good, but it doesn't have to be pristine.
If you have any questions about pre-qualifying for a mortgage, please do not hesitate to contact me. I can originate in all 50 states, including FHA because I work directly for a mortgage bank.