If you go through FHA, than yes you will need to put a minimum of 3.5% of the sales price. The USDA loan requires no down pymt but it is only in rural cities. Another option would be assistance w/ your down pymt. The City of Dallas offers a program where they will assist homebuyers w/ down pymt and/or closing costs. Qualifications are based on income and debt-to-income ratios.
Please feel free to call or email me if you need any assistance.
Make it a Blessed Day!
Tamika Turner, New Homes Specialist
Hendrickson Realty Group
Cell: (972) 697-1178
Fax: (682) 222-1049