Are there any inside tips on down payments for first-time buyers?

• Revisit your "wish list"
  Reconsider what you're looking for in a first home. Find out what you can afford now, and consider buying a starter home that requires a small down payment with the idea of moving up in a few years.

• Take advantage of special programs
  Look into special low- and no-down payment programs like loans guaranteed by the Department of Veterans Affairs (VA) and Federal Housing Administration (FHA). Some areas also have local programs for low- and moderate-income families or first-time buyers, offering lower interest rates or down payments.
• Gather gifts
  Check with parents and relatives for monetary gifts that can go toward a down payment or closing costs. A 20% down payment can dramatically cut monthly costs and eliminate monthly mortgage insurance premiums.
• Consider "sweat equity"
  If you can fix up a home that’s in poor condition, you increase the value of your investment faster. Ask us about special combination loans that provide fix-up funds as well as purchase money.
• Scour market for bargains
  Call on me to research foreclosure properties, housing auctions and other homes available at below-market costs.