With the options available today, a 5% or 10% down payment will provide you almost all of the benefits of a 20% down payment - benefits such as no mortgage insurance required, and the option to pay the property taxes and home insurance separate from the mortgage.  See the Conventional Quick Facts for additional information.

The seller is normally allowed to pay 3% of the sales price toward your closing costs.  Based on the price you offer, the seller may agree to do this.  If so, it will be a nice way to reduce the amount of cash you need to purchase a home.

FHA loans are available to all homebuyers, not just "first-time homebuyers".  FHA loans with a 3.5% downpayment will have a lower monthly payment than a conventional loan with the same downpayment, and the underwriting guidelines are more flexible than conventional loans.

The buyer's closing costs on an FHA loan are identical to the closing costs on a conventional loan, with the exception that the tax service fee ($94) must be paid by the seller.  The seller is allowed to pay up to 6% of the sales price towards the buyer's closing costs, but not to exceed the buyer's total closing costs.  See the FHA Quick Facts for more information. 

It's still the best loan offered, no downpayment is required, and if you are successful in getting the seller to pay all of your closing fees, you can move in for ZERO.

You can use your VA Eligibility more than once.  So, if you have had a VA loan before or you currently have a VA loan, call me to discuss how you can take advantage of this great program again.  For additional information see the VA Quick Facts.