Hi J. Cortes,
I have a better option if you're buying in Mohave Valley, the no money down USDA mortgage!
One of the best things about this mortgage is the monthly mortgage insurance is substantially less than an FHA or conventional mortgage and that's with no money down.
Here's an example: An FHA mortgage of $215,000 is going to have a monthly mortgage insurance payment of $241.87 but on a USDA mortgage it's only going to add $71.66 to your monthly payment. That's a savings of $170 per month!
The other nice thing is you can actually roll your closing costs into the loan as long as the appraised value supports it.
Check out my recommendations here on Trulia from some of my past clients by clicking the following link. http://www.trulia.com/profile/johnburke/#__rec
Please feel free to contact me for more information or help. You can also find info on my USDA Mortgage website by clicking the link below.
Senior Mortgage Banker
Great Plains National Bank
Lending in ALL 50 States