It’s natural to want your own place -- a house that’s yours and yours alone. But if the home-buying process is new to you, you might be a bit intimidated. Most conventional loans require a down payment of five to ten percent. Don’t let that scare you. Here are some alternatives. An FHA loan requires you put down only three percent of the loan value. VA loans get you into a home for nothing down! You can only get a VA loan if you’ve served in the U-S military. A tried-and- true method of buying your first home is getting a relative’s financial support. Lenders call it "gift money". Some will allow you to put down only 10% gift money. Others will take much more.

Here’s another option: Take advantage of one of the many specialty loans targeted at various segments of the population. They usually get you into a house for nothing down. Typically, there are income limitations and stipulations about areas where you can buy. Ask your realtor or lender to tell you what’s available locally. Buying a home is a big step in building a great future. But it’s probably the biggest purchase you’ll ever make—so it’s natural to be a little nervous. Relax. There are plenty of ways to buy that are tailor-made for new buyers just like you.