Closing costs encompass more than just down payment; plus there are other expenses with which many first-time homebuyers are unfamiliar. A loan officer could give you an estimate of how much to save for closing costs (e.g. taxes, attorney fee, title insurance, homeowner's insurance). (Your agent's commission would most likely be paid by the seller.) Some of the $10k may also be used for home inspection prior to closing, home & garden maintenance/repairs, home furnishings, and any increase in utility bills over your current utility bills. With $0 down payment, $10k should be enough, if your family already has an emergency fund. For those who wouldn't qualify for a V.A. loan, there are loans with 5% down payment (FHA, SONYMA, HomePath, etc.)
As a buyer's agent providing complimentary concierge service, I could help you from mortgage prequalification to property tax grievance (in May) to prepping for higher resale and/or purchases of investment property. Work with me to find out how your family can save & enjoy more from life for years to come.
Email: Nina.Lee at ColdwellBankerPrime.com