Each state is different and some even have gift programs that are for fisrt time home owners. Let me know what state you live in, I may be able to look into it. Aslo Nehmeiah program has help with downpayments for first time home owners. Your question is really too broad with out me knowing what your salary will premit or for better words your Debt to Income ratio. Your credit score the "almighty" pain in the ooty tooty...lol
There are also 2/28 arm programs and 4/26 arm programs, and the most popular Interest Only loans.....and of course if your credit is a challange FHA if your creditors are paid off and the score is just.....not so great. You can still get a loan with them. In all actuality I work with A-D credit and many of our lenders can help with scores as low as 500 but that means money down of course and we have loans for people 1 day out of bankruptcy! Now remember credit scores and debt to income ratios are still figured in. So Marie a lot goes in to play when you ask what I can recommend, each person has different variables. If you have specific you do not want to post message me and I can post your answer that would possibly help others or I can email you or message you back.
Oh yeah , the interest Only program is good if your not going to be in a home a long time and its like paying interest only, yet it is not for everyone. Also there are also home loans for people who do not work or have income. Lawd makes my head spin sometime. What ever you do do not do a balloon loan!!!!! That would be a "Hell to the naw" thingy to do. Fixed interest loans where the rate is fixed for the entire loan is still available.
REMEMBER anyone can buy a home with the poorest credit the question is "HOW BAD DO YOU REALLY WANT IT?????"
Peace and Blessings