FHA is now the best financing for entry level buyers

The credit crisis has all but eliminated 100% financing for most buyers.  If you can get the 100% financing you will pay a heavy mortgage insurance fee each month.  The best option is now to get qualified for an FHA loan.  These loans are about 1/2 a percentage point less in interest than conventional 100% loans.  The standard FHA loan requires the buyer to put 3% down, but allows the sellers to pay some of the buyers closing costs.

For more information on the types and the benefits of FHA loans go to their website.

http://www.hud.gov/fha/choosefha.cfm