Please also keep in mind that regardless of the type of property you're purchasing, many times the property condition (if it's a fixer upper you'll need to put more down payment due to the higher risk the lender/investor incurs), seller or, most commonly, your lender will dictate the amount of down you need for the type of loan program you select. If you are a "professional" (i.e. firefighter, police, teacher), there are wonderful loan programs available to assist you. Ask for options from lenders. Sometimes your Realtor can also assist you with good referrals.