Hello Marie, Yes, FHA is a good way to go for a 3% down, there are also some local programs that, if you meet their guidelines, may be a source of down payment assistance, Some 5% down programs are advertised, but I don't know how good their rates are. Your FICO score is very significant for "conventional" loans, and 10% down is the basis for most of them. It's not impossible to pay less than 20% down, you just need to take the time to get preapproved. You may be in a different area of Los Angeles, but if you're considering the Long Beach/South Bay area, please contact me.
Julia Huntsman, 562-896-2609
http://www.longbeachrealestate.blogspot.com - Sun Jul 20 2008, 14:37