We need to leave our rental soon and are thinking about buying a home for the first time. We have very good credit -never pay anything late, always pay off the credit card every month with no interest and dh has been at the same company for a very long time.
The problem is we have very little to put down ... maybe 5%. We are not looking to buy anything fancy or expensive. Is there any way we could even get a loan? I've been looking into the FHA loans because it seems you can put so little down and even roll the closing costs in but I wonder what the catch is? Does anyone know? Since we have good credit would we be eligible for a conventional loan even though we don't have the cash? Any advice?